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 " […]
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 […]
384-G:11 Attorney’s Fees; Costs. – In the event a borrower defaults under the terms of a plan, the bank may, if the borrower’s account is referred to an attorney (not a regularly salaried employee of the bank) or to a third party for collection and if the agreement governing the revolving credit plan so […]
384-G:12 Amendment of Agreement. – I. Unless the agreement governing a revolving credit plan otherwise provides, a bank may at any time and from time to time amend such agreement in any respect, whether or not the amendment or the subject of the amendment was originally contemplated or addressed by the parties or is […]
384-G:13 Examinations. – Subject to federal preemption where applicable: I. The banking department may examine the business affairs of any bank, as it deems necessary to determine whether a revolving credit plan complies with this chapter and the rules adopted hereunder and also with RSA 399-B, the Truth in Lending Act, 15 U.S.C. 1601 […]
384-G:14 Enforcement. – I. Subject to federal preemption where applicable, the bank commissioner shall administer and enforce the provisions of this chapter. The bank commissioner may take enforcement action to remedy any act or practice which violates this chapter, including injunctive relief and restitution. II. Any borrower injured by any such act or practice […]
384-G:15 Rulemaking. – Pursuant to RSA 541-A, the bank commissioner may adopt such rules as the bank commissioner deems necessary to the administration and enforcement of this chapter. Such rules shall be consistent with the provisions of this chapter. Source. 2002, 225:1, eff. July 16, 2002.
384-G:16 Application of Other State Laws. – Extensions of credit and other transactions conducted pursuant to this chapter shall be subject where applicable to the provisions of RSA 399-B. Any other law of this state limiting the rate or amount of interest, discount, points, finance charges, service charges or other charges which may be […]
384-G:17 Application; Captions. – I. The provisions of this chapter shall apply to and exclusively govern a revolving credit plan, provided that the plan references this chapter in the agreement and states that the provisions of this chapter shall so govern. II. Section headings and captions contained in this chapter are inserted only as […]
384-G:18 Materiality of Terms. – All terms, conditions, and other provisions of and relating to a plan as contained in this chapter or in the agreement governing the plan other than those which are interest under this chapter, including, without limitation, provisions relating to the method of determining the outstanding unpaid indebtedness on which […]
384-G:19 Governing Law. – A revolving credit plan between a bank and a borrower shall be governed by the laws of this state. Source. 2002, 225:1, eff. July 16, 2002.
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 […]
384-G:20 Severability. – If any provision of this chapter or the application of any section or part thereof to any person or circumstance is held invalid by a court of competent jurisdiction, such invalidity shall not affect other provisions or applications of the chapter that can be given effect without the invalid provision or […]
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 […]
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 […]
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 […]
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 […]
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 […]
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.
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 […]
