§ 356-A:6 — Public Offering Statement

New Hampshire § 356-A:6

• Jurisdiction: New Hampshire
• Title XXXI: TRADE AND COMMERCE
• Ch. 356-A: LAND SALES FULL DISCLOSURE ACT

Text

I. A public offering statement shall be in a form prescribed by the attorney general and shall include the following:
(a) The name and principal address of the subdivider;
(b) A general description of the subdivided lands stating the total number of lots, parcels, units, or interests in the offering;
(c) The significant terms of any encumbrances, easements, liens, and restrictions, including zoning, water pollution and other regulations affecting the subdivided lands and each unit or lot, and a statement indicating whether or not any such zoning, water pollution and other regulations have been complied with;
(d) A statement of the use for which the property is offered;
(e) Information concerning improvements, including streets, water supply, levees, drainage control systems, irrigation systems, sewage disposal facilities and customary utilities, and the estimated cost, if any, to be borne by the purchaser, date of completion and responsibility for construction and maintenance of existing and proposed improvements which are referred to in connection with the offering or disposition of any interest in subdivided lands;
(f) Additional information reasonably required by rules adopted by the attorney general, pursuant to RSA 541-A, to assure full and fair disclosure to prospective purchasers, including a statement of the cancellation rights set forth in RSA 356-A:4, II.
II. The public offering statement shall not be used for any promotional purposes until it is approved by the attorney general. The attorney general may, in his discretion, authorize the use of such statement prior to his approval of the registration of the subdivided lands under such conditions as he deems appropriate. No person may advertise or represent that the attorney general approves or recommends the subdivided lands or disposition thereof. No portion of the public offering statement may be underscored, italicized, or printed in larger or heavier or different color type than the remainder of the statement unless the attorney general requires it, and no statement may be used unless in its entirety.
III. The attorney general may require the subdivider at any time to alter or amend the proposed public offering statement in order to assure full and fair disclosure to prospective purchasers. A public offering statement is not current unless all amendments are incorporated.
IV. Any subdivider which has been permitted to submit an abbreviated registration pursuant to RSA 356-A:5, II, and any subdivider or subdivided lands which has been registered under the federal Interstate Land Sales Full Disclosure Act is not required to prepare a public offering statement to be used in connection with the offer or disposition of any interest in the subdivided lands.

Legislative History

1970, 55:1. 1977, 469:13-15. 1985, 300:7, I(b), 15.