CHAPTER 291
SB 26 - FINAL VERSION
03/20/2025...0906s
5Jun2025...1976h
06/26/2025...2905EBA
2025 SESSION
25-1070
07/05
SENATE BILL 26
SPONSORS: Sen. Pearl, Dist 17; Sen. Lang, Dist 2; Sen. Reardon, Dist 15; Sen. Innis, Dist 7; Sen. Murphy, Dist 16; Rep. See, Merr. 26; Rep. C. McGuire, Merr. 27; Rep. Moffett, Merr. 4; Rep. Verville, Rock. 2; Rep. Bryer, Rock. 1
COMMITTEE: Commerce
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AMENDED ANALYSIS
This bill allows the department of justice to authorize the preclosing use of a portion of a deposit held in escrow for the payment of certain construction customizations, upgrades, or change orders.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
03/20/2025...0906s
5Jun2025...1976h
06/26/2025...2905EBA 25-1070
07/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Five
Be it Enacted by the Senate and House of Representatives in General Court convened:
291:1 Trade and Commerce; Land Sales Full Disclosure Act; Escrow of Deposits. Amend RSA 356-A:9-a to read as follows:
356-A:9-a Escrow of Deposits. Any deposit made in regard to any disposition of a lot, parcel, unit or interest in subdivided lands shall be held in escrow until settlement or closing. Such escrow funds shall be deposited in a separate account designated for this purpose; provided, however, if such funds are being held by a real estate broker or attorney licensed under the laws of this state, they may be placed in that broker's or attorney's regular escrow account and need not be placed in a separate designated account. Such escrow funds shall not be subject to attachment by the creditors of either the purchaser or the subdivider. Notwithstanding the foregoing requirement that the deposit be held in escrow, the department of justice's consumer protection and antitrust bureau may authorize the preclosing use of a portion of a deposit designated pursuant to a purchase and sales agreement for the payment of any of the following, on such terms as the bureau might reasonably impose:
I. Customizations;
II. Upgrades;
III. Change orders;
IV. Similar items; and
V. Any combination of paragraphs I through IV.
291:2 Trade and Commerce; Condominium Act; Escrow of Deposits. Amend RSA 356-B:57 to read as follows:
356-B:57 Escrow of Deposits. Any deposit made in regard to any disposition of any interest in a unit shall either be held in escrow until settlement or closing or shall be delivered to the person providing construction financing, who shall either hold said deposit in escrow or shall apply said deposit to the construction of the condominium; provided, however, that any deposit made under a nonbinding reservation agreement shall be placed in escrow. Subject to the foregoing, such escrow funds shall be deposited in a separate account designated for this purpose; provided, however, if such funds are being held by a real estate broker or attorney licensed under the laws of this state, they may be placed in that broker's or attorney's regular escrow account and need not be placed in a separate designated account. Such escrow funds shall not be subject to attachment by the creditors of either the purchaser or the declarant. Notwithstanding the foregoing requirement that the deposit be held in escrow, the department of justice's consumer protection and antitrust bureau may authorize the preclosing use of a portion of a deposit designated pursuant to a purchase and sales agreement for the payment of any of the following, on such terms as the bureau might reasonably impose:
I. Customizations;
II. Upgrades;
III. Change orders;
IV. Similar items; and
V. Any combination of paragraphs I through IV.
291:3 Effective Date. This act shall take effect upon its passage.
Approved: August 01, 2025
Effective Date: August 01, 2025
| Date | Amendment |
|---|---|
| March 11, 2025 | 2025-0906s |
| May 28, 2025 | 2025-1976h |
| July 8, 2025 | 2025-2905EBA |
| Date | Body | Type |
|---|---|---|
| Jan. 14, 2025 | Senate | Hearing |
| March 20, 2025 | Senate | Floor Vote |
| April 22, 2025 | House | Hearing |
| May 27, 2025 | House | Exec Session |
| May 27, 2025 | House | Floor Vote |
Aug. 4, 2025: Signed by the Governor on 08/01/2025; Chapter 291; Effective 08/01/2025
July 16, 2025: Enrolled Adopted, VV, (In recess 06/26/2025); SJ 17
July 16, 2025: Enrolled (in recess of) 06/26/2025 HJ 18
July 8, 2025: Enrolled Bill Amendment # 2025-2905e Adopted, VV, (In recess of 06/26/2025); SJ 17
July 7, 2025: Enrolled Bill Amendment # 2025-2905e: AA VV (in recess of) 06/26/2025 HJ 18
June 12, 2025: Sen. Innis Moved to Concur with the House Amendment, MA, VV; 06/12/2025; SJ 16
June 5, 2025: Ought to Pass with Amendment 2025-1976h: MA VV 06/05/2025 HJ 16 P. 2
June 5, 2025: Amendment # 2025-1976h (NT): AA VV 06/05/2025 HJ 16 P. 2
May 28, 2025: Committee Report: Ought to Pass with Amendment # 2025-1976h (NT) 05/27/2025 (Vote 16-0; CC) HC 27 P. 6
May 21, 2025: Executive Session: 05/27/2025 01:15 pm LOB 302-304
May 7, 2025: Subcommittee Work Session: 05/14/2025 10:30 am LOB 302-304
April 30, 2025: Subcommittee Work Session: 05/06/2025 10:00 am LOB 302-304
April 16, 2025: Public Hearing: 04/22/2025 01:30 pm LOB 302-304
March 28, 2025: Introduced (in recess of) 03/27/2025 and referred to Commerce and Consumer Affairs HJ 11 P. 109
March 20, 2025: Ought to Pass with Amendment #2025-0906s, MA, VV; OT3rdg; 03/20/2025; SJ 8
March 20, 2025: Committee Amendment # 2025-0906s, AA, VV; 03/20/2025; SJ 8
March 12, 2025: Committee Report: Ought to Pass with Amendment # 2025-0906s, 03/20/2025; Vote 6-0; CC; SC 13
Jan. 9, 2025: Hearing: 01/14/2025, Room 100, SH, 10:15 am; SC 5
Jan. 7, 2025: Introduced 01/08/2025 and Referred to Commerce; SJ 2