DISCLOSURE OF FINANCE CHARGES

RSA tit. XXXVI, ch. 399-B

in effect

RSA 399-B:1 Definitions.

399-B:1. Definitions. Whenever used in this chapter the following words shall have the meaning set opposite them below: I. "Credit" means any loan, residential mortgage, deed of trust, advance, or discount; any conditional sales contract; any contract to sell, or sale, or contract of sale of property or services, either for present or future delivery, under which part or all of the price is payable subsequent to the making of such sale or contract; any rental-purchase contract; any contract or arrangement for the hire, bailment, or leasing of property; any option, demand, lien, pledge, or other claim against, or for the delivery of, property or money; any purchase, discount, or other acquisition of, or any credit upon the security of, any obligation or claim arising out of any of the foregoing; and any transaction or series of transactions having a similar purpose or effect. II. "Finance charges" includes charges such as interest, fees, service charges, discounts, and other charges associated with the extension of credit. III. "Person" means any individual, partnership, association, corporation, or unincorporated organization. Source. 1961, 245:7, eff. Aug. 30, 1961.

RSA 399-B:2 Statement Required.

399-B:2. Statement Required. Any person engaged in the business of extending credit shall furnish to each person to whom such credit is extended, concurrently with the consummation of the transaction or agreement to extend credit, a clear statement in writing setting forth the finance charges, expressed in dollars, rate of interest, or monthly rate of charge, or a combination thereof, to be borne by such person in connection with such extension of credit as originally scheduled. Source. 1961, 245:7, eff. Aug. 30, 1961.

RSA 399-B:2-a Exception.

399-B:2-a. Exception. A finance charge statement or disclosure in a consumer credit transaction, as defined in RSA 358-K:1, V, that is made in conformity with Federal Reserve Board Regulation Z, Truth in Lending, 12 CFR 226, as amended, or Regulation M, 12 CFR 213, as amended, shall be deemed to fulfill the finance charge statement requirements of RSA 399-B:2. Source. 1997, 193:2. 1999, 16:6, eff. June 26, 1999.

RSA 399-B:3 Prohibition.

399-B:3. Prohibition. No person shall extend credit in contravention of this chapter. Source. 1961, 245:7, eff. Aug. 30, 1961.

RSA 399-B:4 Penalty.

399-B:4. Penalty. Whoever wilfully violates any provision of RSA 399-B shall be guilty of a misdemeanor if a natural person, or guilty of a felony if any other person. Source. 1961, 245:7. 1973, 528:272, eff. Oct. 31, 1973 at 11:59 p.m.

RSA 399-B:5 Additional Purchases.

399-B:5. Additional Purchases. Where a buyer makes any subsequent purchases of consumer goods from a seller from whom he has previously purchased goods or services under one or more conditional sales contracts, and the amounts under the contract or contracts have not been fully paid, the subsequent purchases may be included in and consolidated with one or more of the prior contract or contracts. A memorandum of the additional purchases shall be prepared by the seller, inserted in or attached to the seller's counterpart of the contract and shall set forth: (a) A description of the additional goods or services so purchased; (b) The consolidated total indebtedness of the buyer; (c) The finance charge stating either as the additional amount on the subsequent purchase or as the total amount on the consolidated contract; (d) The revised installment payments. A copy of the memorandum shall be furnished to the buyer. Source. 1965, 376:1, eff. Sept. 6, 1965.

RSA 399-B:6 Repossession Procedure.

399-B:6. Repossession Procedure. Prior to or after any action by the seller or his agents to repossess consumer goods under the terms of any such conditional sales contract or contracts involving both previous and subsequent purchases which have not been fully paid, the seller must retroactively allocate all payments received under the contract or contracts to the various purchases in the same proportion or ratio as the original cash prices of the various purchases bear to one another. However, the amount of initial or down payment involved in each purchase shall be allocated in its entirety to such purchase. The result of such allocation shall be reported to the buyer who has the right to complete payment on any of the purchases consolidated in the conditional sales contract within 15 days from receipt of the allocation report from the seller. Any purchases upon which the payments have been so completed are exempt from repossession by the seller. Provisions of this section do not apply to sales involving equipment, parts, or other merchandise attached or affixed to goods previously purchased or repairs or services rendered by the seller in connection therewith at the buyer's request. Source. 1965, 376:1, eff. Sept. 6, 1965.

RSA 399-B:7 Not to Apply to Liens Upon Real Estate.

399-B:7. Not to Apply to Liens Upon Real Estate. Conditional sales contracts do not include any instrument creating or involving liens against real estate or any interest in real estate. Source. 1965, 376:1, eff. Sept. 6, 1965.

RSA 399-B:8 Definition.

399-B:8. Definition. "Consumer goods" means goods bought for use primarily for personal, family, or household purposes, as distinguished from goods bought for commercial, industrial, or business use, and does not include motor vehicles, accessories, equipment, parts, or repairs, the installment sales and financing of which are regulated by RSA 361-A. Source. 1965, 376:1, eff. Sept. 6, 1965.

Source: New Hampshire General Court (gc.nh.gov)URL: https://gc.nh.gov/rsa/html/NHTOC/NHTOC-XXXVI-399-B.htmFetched: 10/20/2026