2009 New Hampshire Statutes
TITLE XXXVI — PAWNBROKERS AND MONEYLENDERS (Includes Chapters 398 - 399-G)
CHAPTER 399-C — LENDERS OF MONEY
Section 399-C:1 Additional Fee or Charge for Substitution of Insurance Policy Prohibited.
It shall be unlawful for any person, partnership, association, corporation, unincorporated organization, savings bank or institution, trust company, national bank, building and loan association, credit union, or any other type of bank, whether federal or state chartered, that makes a loan secured by real or personal property in connection with such a transaction, to make any separate or additional charge to, or to require any fee from, or to require the payment of any money by an insurance company, insurance agency, borrower, mortgagor, or purchaser, other than the insurance premium on insurance written as additional security for the loan, for the substitution by a borrower, a mortgagor, or a purchaser of one insurance policy on the property for an existing policy on the property, when the existing or substituted policy is provided through an insurance company or insurance agent or broker licensed to do business in this state. However, nothing in this section prevents the payment of interest which may be charged on premium loans or premium advancements in accordance with the security agreement.
Source. 1969, 79:1, eff. June 3, 1969.
Disclaimer: These codes may not be the most recent version. New Hampshire may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
