399-C:1-a Inducement Check Disclosure. –
No person subject to the provisions of this chapter shall induce any potential borrower who is not a loan customer of the person to enter into a closed-end loan agreement, by delivering in the first instance a negotiable check for such loan to such potential borrower, without including the following information clearly printed on the endorsement side of the check:
I. A statement which reads, "By endorsing this check, you become legally liable for repaying all moneys, including interest, as specified in the following loan agreement/disclosure statement";
II. The amount financed;
III. The annual percentage rate;
IV. The number of installments; and
V. The amount of each installment payment.
Source. 2015, 272:24, eff. Oct. 1, 2015.