New Hampshire § 358-K:3 Advance Collection of Interest in Consumer Credit Transactions Prohibited After June 30, 1985

New Hampshire Statutes

§ 358-K:3 — Advance Collection of Interest in Consumer Credit Transactions Prohibited After June 30, 1985

New Hampshire § 358-K:3

Title XXXITRADE AND COMMERCE

Ch. 358-KREGULATION OF CONSUMER CREDIT TRANSACTIONS

This text of New Hampshire § 358-K:3 (Advance Collection of Interest in Consumer Credit Transactions Prohibited After June 30, 1985) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 358-K:3 (2026).

Text

Notwithstanding any other law to the contrary, with respect to closed-end consumer credit transactions entered into after June 30, 1985, interest shall be collected only as earned, and no interest on such transactions shall be paid, deducted or added to principal in advance. This section shall not preclude the advance collection or prepayment of other charges to which the transaction is subject. This section shall not apply to the advance collection of interest at the inception of a closed-end consumer credit transaction for origination fees or for a fractional part of a month in order to achieve a common or convenient monthly payment date as provided by RSA 358-K:4-a.

Free access — add to your briefcase to read the full text and ask questions with AI

Notwithstanding any other law to the contrary, with respect to closed-end consumer credit transactions entered into after June 30, 1985, interest shall be collected only as earned, and no interest on such transactions shall be paid, deducted or added to principal in advance. This section shall not preclude the advance collection or prepayment of other charges to which the transaction is subject. This section shall not apply to the advance collection of interest at the inception of a closed-end consumer credit transaction for origination fees or for a fractional part of a month in order to achieve a common or convenient monthly payment date as provided by RSA 358-K:4-a.