Section 384-G:1 – Definitions.
384-G:1 Definitions. – In this chapter: I. " Bank " means a bank as defined in RSA 383-A:2-201(a)(3). II. " Bank commissioner " means the New Hampshire bank commissioner. III. " Borrower " means any corporation, partnership, association, government or governmental subdivision or agency, trust, individual, or other entity. IV. " Credit device " […]
Section 384-G:2 – Extension of Credit.
384-G:2 Extension of Credit. – Any bank may, subject to any limitations on lending authorities contained in its charter or otherwise imposed by law and subject to the other provisions of this chapter, offer and extend credit under a revolving credit plan to a borrower and in connection therewith may charge and collect periodic […]
Section 384-G:3 – Periodic Interest.
384-G:3 Periodic Interest. – A bank may charge and collect periodic interest under a revolving credit plan on outstanding unpaid indebtedness in the borrower’s account under the plan at such daily, weekly, monthly, annual or other periodic percentage rate or rates as the agreement governing the plan provides or as established in the manner […]
Section 384-G:4 – Variable Rates.
384-G:4 Variable Rates. – If the agreement governing the revolving credit plan so provides, the periodic percentage rate or rates of interest under such plan may vary in accordance with a schedule or formula. Such periodic percentage rate or rates may vary from time to time as the rate determined in accordance with such […]
Section 384-G:5 – Interest Charges.
384-G:5 Interest Charges. – I. In addition to or in lieu of interest at a periodic percentage rate or rates as provided in RSA 384-G:3 and RSA 384-G:4, a bank may, if the agreement governing the revolving credit plan so provides, charge and collect, as interest, in such manner or form as the plan […]
Section 384-G:6 – Terms for Indebtedness.
384-G:6 Terms for Indebtedness. – A bank may, if the agreement governing a revolving credit plan so provides, impose different terms (including, without limitation, the terms governing the periodic percentage rate or rates used to calculate interest, the method of computing the outstanding unpaid indebtedness to which such rate or rates are applied, the […]
Section 384-G:7 – Overdraft Accounts.
384-G:7 Overdraft Accounts. – If credit under a revolving credit plan is offered and extended in connection with a demand deposit account or other transaction account maintained by the borrower with a bank that is also a depository institution pursuant to an agreement or arrangement whereby such bank agrees to honor checks, drafts, or […]
Section 384-G:8 – Omitted Installments.
384-G:8 Omitted Installments. – A bank may at any time and from time to time unilaterally extend to a borrower under a revolving credit plan the option of omitting monthly installments. Source. 2002, 225:1, eff. July 16, 2002.
Section 384-G:9 – Insurance.
384-G:9 Insurance. – I. A bank may request but not require an individual borrower to be insured in respect of a revolving credit plan under a life, health, accident, health and accident or other credit or other permissible insurance policy, whether group or individual, and in the event that an individual borrower’s outstanding unpaid […]
Section 384-G:10 – Delinquent Installments.
384-G:10 Delinquent Installments. – I. If the agreement governing a revolving credit plan so provides, a bank may impose, as interest, a late or delinquency charge upon any outstanding unpaid installment payments or portions thereof under the plan which are in default; provided however, that no more than one such late or delinquency charge […]