Section 361-D:27 – Administrative Enforcement.
361-D:27 Administrative Enforcement. – In addition to the private rights created by this chapter, compliance with the requirements imposed under this chapter shall be enforced by the department of justice. Source. 1996, 85:1, eff. Nov. 15, 1996.
Section 361-D:28 – Rulemaking.
361-D:28 Rulemaking. – The attorney general shall adopt rules, pursuant to RSA 541-A, relative to: I. The information required to be included with the solicitation under RSA 361-D:2. II. The guidelines for forms necessary to comply with the provision of RSA 361-D:3. III. [Repealed.] Source. 1996, 85:1, eff. Nov. 15, 1996. 2012, 171:26, XVII, […]
Section 361-E:1 – Scope.
361-E:1 Scope. – I. The purpose of this chapter is to provide a framework within which retail sellers and sales finance companies may offer guaranteed asset protection waivers in New Hampshire. II. This chapter shall not apply to: (a) An insurance policy offered by an insurer under the insurance laws of this state; or […]
Section 361-E:2 – Definitions.
361-E:2 Definitions. – I. In this chapter: (a) " Administrator " means a person, other than an insurer or creditor, that performs administrative or operational functions pursuant to guaranteed asset protection waiver programs. (b) " Borrower " means any retail buyer, as defined in RSA 361-A:1, IX. (c) " Creditor " means: (1) Any […]
Section 361-E:3 – Requirements for Offering Guaranteed Asset Protection Waivers.
361-E:3 Requirements for Offering Guaranteed Asset Protection Waivers. – I. GAP waivers may, at the option of the creditor, be sold for a single payment or may be offered with a monthly or periodic payment option. II. Any cost to the borrower for a guaranteed asset protection waiver entered into in compliance with the […]
Section 361-E:4 – Disclosures.
361-E:4 Disclosures. – Guaranteed asset protection waivers shall disclose, as applicable, in writing and in clear, understandable language that is easy to read, the following: I. The name and address of the initial creditor and the borrower at the time of sale, the identity of any administrator if different from the creditor, and a […]
Section 361-E:5 – Cancellation.
361-E:5 Cancellation. – I. Guaranteed asset protection waiver agreements may be cancellable or noncancellable after the free look period. GAP waivers shall provide that if a borrower cancels a waiver within the free look period, the borrower shall be entitled to a full refund of the purchase price, if no benefits have been provided. […]
Section 361-D:17 – Restriction on Liability for Early Termination.
361-D:17 Restriction on Liability for Early Termination. – I. The lessee shall have the right to terminate the lease at any time after the lessee has made 12 full periodic lease payments for which lease charges have been accrued by the holder, or, in the case of a single payment lease, at the expiration […]
Section 361-D:18 – Restriction on the Reporting of Early Terminations.
361-D:18 Restriction on the Reporting of Early Terminations. – The holder of a lease shall not report the voluntary early termination of a lease to a consumer reporting agency as a default unless the lessee fails to satisfy the lessee’s early termination obligations under the lease. Source. 1996, 85:1, eff. Nov. 15, 1996.
Section 361-D:19 – Assessment of Excess Wear and Damage to the Vehicle.
361-D:19 Assessment of Excess Wear and Damage to the Vehicle. – I. The lease shall contain a clause complying with the Consumer Leasing Act, 15 U.S.C. section 1677 et seq., which describes the standards for determining excess wear and damage to the vehicle for which the lessee will be liable. Upon the lessee’s exercise […]