399-A:1 Definitions. – In this chapter: I. " Affiliate " means a partnership, corporation, trust, limited liability company, or other organization that directly or indirectly owns a lender, is under common ownership with a lender, or is directly or indirectly owned by a lender. II. "Annual percentage rate" shall be calculated according to the […]
399-A:10 Reporting and Filing Requirements. – I. (a) Each licensee shall file, under oath, an annual report through the Nationwide Multistate Licensing System and Registry on or before March 31 each year concerning its business and operations for the preceding calendar year or license period ending December 31 in the form prescribed by the […]
399-A:11 Record Keeping Requirements. – I. The licensee shall maintain such books and records in accordance with sound business and accepted accounting practices as will enable the department to determine whether the licensee’s business is in compliance with the provisions of this chapter and the rules adopted pursuant to it. Such records shall be […]
399-A:12 Consumer Inquiries. – I. Consumer complaints naming licensees under this chapter, which are filed in writing with the office of the commissioner, shall be forwarded via electronic mail or certified or registered mail to the licensee for response within 10 days of receipt by the department. Licensees shall, within 10 days after receipt […]
399-A:13 Examinations and Investigations. – I. The commissioner or the commissioner’s duly authorized representative shall, in accordance with RSA 383:9 and, with or without notice to the licensee or person, examine the business affairs of any licensee or any other person subject to this chapter, whether licensed or not, or more often when necessary, […]
399-A:14 Prohibitions; Fraud and Dishonesty. – I. No person in connection with engaging in the business of a small loan lender, directly or indirectly shall: (a) Employ any device, scheme, or artifice to defraud; (b) Make any untrue statement of a material fact or to omit to state a material fact necessary in order […]
399-A:15 Provisions Applicable to All Persons Under This Chapter. – I. Any loan made outside this state, as permitted by the laws of the state in which the loan was made, may be collected in this state in accordance with its terms. II. No person making a small loan, shall advertise, print, display, publish, […]
399-A:16 Small Loans Other Than Payday Loans or Title Loans. – The following provisions are applicable only to small loans other than payday loans or title loans: I. The annual percentage rate for small loans shall not exceed 36 percent. Notwithstanding the federal definition of annual percentage rate, for purposes of calculating annual percentage […]
399-A:17 Payday Loan Lenders. – I. The annual percentage rate for payday loans shall not exceed 36 percent. II. Each payday loan lender shall conspicuously post in its licensed location a schedule of interest charges, with examples using a $300 loan payable in 14 days and 30 days. Payday loans shall incur interest only. […]
399-A:18 Title Loan Lenders. – I. No title loan lender shall: (a) Charge the consumer more than one fee for dishonored checks when the consumer issues more than one check to the title loan lender. However, the title loan lender may recover from the consumer any fee charged to the lender by an unaffiliated […]
399-A:19 Title Loan Renewals. – I. A title loan shall be for an original term of no more than one month. II. A title loan lender may allow such loan to be renewed no more than 9 additional periods each equal to the original term, provided however, that at each such renewal the borrower […]
399-A:2 License Required. – I. No person shall engage in the business of a small loan lender in this state or with consumers located in this state without first obtaining a license from the commissioner as provided in this chapter. II. Each such license shall terminate on December 31 of each year. Each license […]
399-A:20 Powers of the Commissioner. – I. The commissioner shall have the power to subpoena witnesses and administer oaths in any adjudicative proceeding and to compel, by subpoena duces tecum, the production of documents, papers, books, records, files, and other evidence, whether electronically stored or otherwise, before the commissioner in any matter over which […]
399-A:21 Order to Show Cause. – I. The commissioner may issue an order requiring a person to whom any license has been granted or any person under the commissioner’s jurisdiction to show cause why the license should not be revoked, suspended, or penalties imposed, or both, for violations of this chapter. II. (a) The […]
399-A:22 Cease and Desist Orders. – I. The department may issue a cease and desist order against any person who it has reasonable cause to believe has violated or is about to violate the provisions of this chapter or any rule or order under this chapter. II. (a) The order shall be calculated to […]
399-A:23 Penalty. – I. Any person or the members, officers, directors, agents, and employees thereof who knowingly violate any provision of this chapter shall be guilty of a misdemeanor if a natural person, or a felony if any other person. II. Any person violating the provisions of RSA 399-A:15 through RSA 399-A:19 or engaging […]
399-A:24 Consumer Credit Administration License Fund. – The balance in the consumer credit administration license fund shall be transferred and shall be payable to the state treasurer as restricted revenue and credited to the appropriation for the commissioner, consumer credit administration division. Sums collected under this chapter shall be payable to the state treasurer […]
399-A:3 Exemptions. – This chapter shall not apply to: I. Any person lawfully engaged in business as permitted by the laws of this state, the laws of any other state, or federal law relative to banks, trust companies, insurance companies, savings or building and loan associations, or credit unions, or to loans made by […]
399-A:4 Application and Fees. – I. Every applicant for licensing under this chapter shall file with the commissioner a written verified application through the Nationwide Multistate Licensing System and Registry, using the Nationwide Multistate Licensing System and Registry form which shall include, but is not limited to, the following information: (a) The name of […]
399-A:5 License Grant and Renewal. – I. Upon the filing of the complete application, payment of the required application fee, and completion of a pre-licensing investigation by the department, the commissioner shall issue a license to the applicant and to the applicant’s branches to engage in the business of a small loan lender if […]
