New Hampshire § 358-K:4 Actuarial Method Required for Computation of Interest on Closed-End Consumer Credit Transactions Entered Into After June 30, 1985

New Hampshire Statutes

§ 358-K:4 — Actuarial Method Required for Computation of Interest on Closed-End Consumer Credit Transactions Entered Into After June 30, 1985

New Hampshire § 358-K:4

Title XXXITRADE AND COMMERCE

Ch. 358-KREGULATION OF CONSUMER CREDIT TRANSACTIONS

This text of New Hampshire § 358-K:4 (Actuarial Method Required for Computation of Interest on Closed-End Consumer Credit Transactions Entered Into 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:4 (2026).

Text

Interest on closed-end consumer credit transactions entered into after June 30, 1985 shall be contracted for at an annual rate or rates and computed only on the scheduled outstanding balances of the amount financed according to the actuarial method. Interest on such transactions shall be collected only as earned on actual unpaid balances for the actual time outstanding, and the consumer shall not be entitled to any rebate of interest on prepayment in full of a closed-end consumer credit transaction.

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

Interest on closed-end consumer credit transactions entered into after June 30, 1985 shall be contracted for at an annual rate or rates and computed only on the scheduled outstanding balances of the amount financed according to the actuarial method. Interest on such transactions shall be collected only as earned on actual unpaid balances for the actual time outstanding, and the consumer shall not be entitled to any rebate of interest on prepayment in full of a closed-end consumer credit transaction.