Section 358-P:1 – Short Title.

    358-P:1 Short Title. – This chapter is to be known as the "New Hampshire Rent-to-Own Agreement Act." Source. 1994, 406:1, eff. Jan. 1, 1995.

Section 358-P:10 – Renegotiations and Extensions.

    358-P:10 Renegotiations and Extensions. – I. A renegotiation shall occur when an existing rent-to-own agreement is satisfied and replaced by a new agreement undertaken by the same rent-to-own dealer and consumer. A renegotiation shall be considered a new agreement requiring new disclosures. A renegotiation shall not include: (a) The addition or return of property […]

Section 358-P:11 – Enforcement; Penalties.

    358-P:11 Enforcement; Penalties. – I. (a) A rent-to-own dealer who fails to comply with the requirements of this chapter is liable to the consumer damaged thereby in an amount equal to the greater of: (1) The actual damages sustained by the consumer as a result of the rent-to-own dealer’s failure to comply with this […]

Section 358-P:12 – Rent-to-Own Dealer’s Defenses.

    358-P:12 Rent-to-Own Dealer’s Defenses. – I. If a rent-to-own dealer establishes by a preponderance of evidence that a violation of this chapter was unintentional or the result of a bona fide error notwithstanding the maintenance of procedures reasonably adapted to avoid such errors, no penalty as specified in RSA 358-P:11 may be imposed and […]

Section 358-P:2 – Definitions.

    358-P:2 Definitions. – In this chapter: I. "Advertisement" means a commercial message in any medium that solicits a consumer to enter a rent-to-own agreement. II. "Cash price" means the price at which the lessor would have sold the property to the consumer for cash on the date of the rent-to-own agreement. III. "Consumer" means […]

Section 358-P:3 – General Requirements of Disclosure.

    358-P:3 General Requirements of Disclosure. – I. The rent-to-own dealer shall disclose to the consumer the information required by RSA 358-P:4. In a transaction involving more than one rent-to-own dealer, only one such dealer need make the disclosures, but all rent-to-own dealers shall be bound by such disclosures. II. The disclosures shall be made […]

Section 358-P:4 – Disclosures.

    358-P:4 Disclosures. – For each rent-to-own agreement, the rent-to-own dealer shall disclose in the agreement the following items, as applicable: I. Whether the periodic payment is weekly, monthly or otherwise, the dollar amount of each payment, and the total number and total dollar amount of all periodic payments necessary to acquire ownership of the […]

Section 358-P:5 – Advertising.

    358-P:5 Advertising. – I. If an advertisement for a rent-to-own agreement refers to or states the dollar amount of an initial, periodic, or final payment or offers a free initial, periodic, or final payment for any item and refers to or states the right to acquire ownership of the item, then for such item […]

Section 358-P:6 – Inapplicability of Other Laws; Exempted Transactions.

    358-P:6 Inapplicability of Other Laws; Exempted Transactions. – I. Rent-to-own agreements which comply with this chapter are not governed by the laws relating to: (a) A "security interest" as defined in RSA 382-A:1-201(37). (b) A "consumer credit transaction" as defined in RSA 358-C:1, II and RSA 358-K:1, V. (c) "Credit" as defined in RSA […]

Section 358-P:7 – Prohibited Practices.

    358-P:7 Prohibited Practices. – I. A rent-to-own agreement shall not contain: (a) A confession of judgment. (b) A negotiable instrument. (c) A security interest or any other claim of a property interest in any property of the consumer. (d) A wage assignment. (e) A waiver by the consumer of claims or defenses. (f) A […]

Section 358-P:8 – Reinstatement.

    358-P:8 Reinstatement. – I. A consumer who fails to make a timely rental payment may reinstate the agreement, without losing any rights or options which exist under the agreement, by the payment of: (a) All past due rental charges; (b) If the property has been picked up, the reasonable costs of pick-up and redelivery; […]

Section 358-P:9 – Receipts.

    358-P:9 Receipts. – Upon request by the consumer, a rent-to-own dealer shall provide the consumer with a written receipt for each payment. Source. 1994, 406:1, eff. Jan. 1, 1995.