Section 399-D:15 – Provisions Applicable to Debt Management Plans Under This Chapter.
399-D:15 Provisions Applicable to Debt Management Plans Under This Chapter. – I. Fees shall be amortized equally each month over the length of the contract. II. A licensee shall not be entitled to any fee until the contract has been in effect for at least 30 days, and thereafter, the monthly amortized fee may […]
Section 399-D:16 – Provisions Applicable to Debt Settlement Plans Under This Chapter.
399-D:16 Provisions Applicable to Debt Settlement Plans Under This Chapter. – I. A licensee shall not be entitled to any fee until the contract has been in effect for at least 30 days, and thereafter, the monthly amortized fee may be charged at 30-day intervals for the term of contract, except in the event […]
Section 399-D:17 – Provisions Applicable to Debt Repayment Plans Under This Chapter.
399-D:17 Provisions Applicable to Debt Repayment Plans Under This Chapter. – I. If the debtor gives the licensee 30 days’ written notice of cancellation and such licensee performed all of its contractually required services, such licensee shall be entitled to a cancellation fee of the lesser of: (a) 5 percent of the remaining service […]
Section 399-D:2 – License Required.
399-D:2 License Required. – Any person not exempt under RSA 399-D:3 that, in its own name or on behalf of other persons, engages in the business of debt adjustment in this state or with persons located in this state shall obtain a license from the department. Licensure in the state of New Hampshire under […]
Section 399-D:3 – Exemptions.
399-D:3 Exemptions. – The provisions of this chapter shall not apply to: I. Any attorney admitted to the practice of law in this state, when engaged in such practice. II. Any financial institution authorized to transact business in this state, which performs debt adjuster activity in the regular course of its principal business. III. […]
Section 399-D:4 – Application and Fees.
399-D:4 Application and Fees. – I. (a) To be considered for licensing, each person shall complete and file with the department one verified application through the Nationwide Multistate Licensing System and Registry, using the Nationwide Multistate Licensing System and Registry form which shall include, but not be limited to, the following information: (1) The […]
Section 399-D:5 – License Grant and Renewal.
399-D:5 License Grant and Renewal. – I. Upon the applicant’s filing of the complete application, and payment of the required fee, the commissioner shall have, in accordance with RSA 541-A:29, up to 120 days to investigate and determine whether the applicant’s financial resources, experience, personnel, and record of past or proposed conduct warrant the […]
Section 399-D:6 – License Denial or Abandonment; Appeal.
399-D:6 License Denial or Abandonment; Appeal. – I. If the commissioner determines that the applicant fails to meet the requirements of this chapter, the commissioner shall immediately, in writing, notify the applicant of that determination. II. The commissioner may deny a license application if it is in the public interest and the applicant or […]
Section 399-D:7 – License Surrender.
399-D:7 License Surrender. – I. A licensee who ceases to engage in the business of a debt adjuster at any time for any cause shall surrender such license and within 15 calendar days of such cessation: (a) Publish a notice of such cessation in a newspaper of general circulation in the licensee’s market area; […]
Section 399-D:8 – Continuing Obligation to Update.
399-D:8 Continuing Obligation to Update. – I. Licensees shall update information on file with the commissioner. If any information filed with the commissioner becomes materially inaccurate, the licensee shall, within 30 days of the event necessitating the update, submit an amendment to its application records that will correct the information on file with the […]