SB 429 – AS INTRODUCED
2010 SESSION
08/05
SENATE BILL 429
AN ACT relative to disclosure of finance charges.
SPONSORS: Sen. Downing, Dist 22; Rep. Kidder, Merr 1; Rep. R. Holden, Hills 7
COMMITTEE: Commerce, Labor and Consumer Protection
This bill defines consumer transaction and further defines credit to include consumer transactions.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
10-2831
08/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Ten
AN ACT relative to disclosure of finance charges.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Credit; Definition. Amend RSA 399-B:1, I to read as follows:
I. “Credit” means any credit for a consumer transaction including any loan, residential mortgage, deed of trust, advance, or discount; any conditional sales contract; any contract to sell, or sale, or contract of sale of property or services, either for present or future delivery, under which part or all of the price is payable subsequent to the making of such sale or contract; any rental-purchase contract; any contract or arrangement for the hire, bailment, or leasing of property; any option, demand, lien, pledge, or other claim against, or for the delivery of, property or money; any purchase, discount, or other acquisition of, or any credit upon the security of, any obligation or claim arising out of any of the foregoing; and any transaction or series of transactions having a similar purpose or effect.
2 New Paragraph; Consumer Transaction; Definition. Amend RSA 399-B:1 by inserting after paragraph III the following new paragraph:
IV. “Consumer transaction” means a transaction in which the party to whom credit is offered or extended is a natural person, and the money, property, or services which are the subject of the transaction are primarily used for personal family or household purposes.
3 Effective Date. This act shall take effect upon its passage.