Bill Text: NH HB1473 | 2016 | Regular Session | Introduced

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Bill Title: Relative to small loans.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2016-03-09 - Inexpedient to Legislate: Motion Adopted Voice Vote 03/09/2016 House Journal 23 P. 7 [HB1473 Detail]

Download: New_Hampshire-2016-HB1473-Introduced.html

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HB 1473 - AS INTRODUCED

 

2016 SESSION

16-2550

08/09

 

HOUSE BILL 1473

 

AN ACT relative to small loans.

 

SPONSORS: Rep. Jones, Straf. 24

 

COMMITTEE: Commerce and Consumer Affairs

 

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ANALYSIS

 

This bill repeals a provision relative to late fees on small loan installments in default.

 

This bill also repeals a provision relative to the inclusion of a provision in the loan agreement that the borrower may cancel the loan transaction under certain circumstances.

 

This bill is a request of the banking department.

 

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

16-2550

08/09

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Sixteen

 

AN ACT relative to small loans.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

1  Repeal.  The following are repealed:

I.  RSA 399-A:15, XV, relative to late fees on small loan installments in default.

II.  RSA 399-A:15, XVIII, relative to the inclusion of a provision in the loan agreement that the borrower may cancel the loan transaction under certain circumstances.

2  Effective Date.  This act shall take effect 60 days after its passage.