2015 New Hampshire Revised Statutes
Title XXXVI - PAWNBROKERS AND MONEYLENDERS
Chapter 399-A - REGULATION OF SMALL LOANS, TITLE LOANS, AND PAYDAY LOANS
Section 399-A:9 - Consumer Inquiries.

[RSA 399-A:9 effective until January 1, 2016; see also RSA 399-A:9 set out below.]     399-A:9 Consumer Inquiries. –
    I. Consumer complaints naming licensees under this chapter, which are filed in writing with the office of the bank commissioner, shall be forwarded via certified or registered mail to the licensee for response within 10 days of receipt by the department. Licensees shall, within 30 days after receipt of such complaint, send a written acknowledgement thereof to the consumer and the banking department. Not later than 60 days following receipt of such complaint, the licensee shall conduct an investigation of the complaint and either:
       (a) Make appropriate corrections in the account of the consumer and transmit to the consumer and the banking department written notification of such corrections, including documentary evidence thereof; or
       (b) Transmit a written explanation or clarification to the consumer and the banking department which sets forth, to the extent applicable, the reasons why the licensee believes its actions are correct, including copies of documentary evidence thereof.
    II. A licensee who fails to respond to consumer complaints as required by this section within the time prescribed shall pay to the commissioner the sum of $50 for each day such response is overdue. For purposes of this section, the date of transmission shall be the date such response is received by the commissioner.
    III. (a) Licensees who because of extenuating circumstances beyond the control of the licensee, are unable to comply with the time frames prescribed in this section, may make written request to the commissioner for a waiver of such time frames. Waivers shall not be granted or considered unless the request for the waiver:
          (1) Is received by the banking department within 50 days following the licensee's receipt of the complaint;
          (2) Specifies the reason for the request; and
          (3) Specifies a date certain by which the licensee shall comply with the provisions of this section.
       (b) Requests for waivers shall be either granted or denied within 5 days of receipt by the banking department.
    399-A:9 Continuing Obligation to Update. --
    I. Licensees shall update information on file with the commissioner. If any information filed with the commissioner becomes materially inaccurate, the licensee shall, within 30 days of the event necessitating the update, submit an amendment to its application records that will correct the information on file with the commissioner.
    II. (a) A licensee shall submit written notification to the department of the addition or deletion of a principal, and shall provide the name and address of each new principal no later than 30 days after such change.
       (b) Each new principal shall authorize the commissioner to conduct a background investigation and a criminal history records check.
       (c) The commissioner shall investigate management and ownership changes including, but not limited to, each principal's qualifications and business history.
       (d) The licensee shall investigate and disclose any injunction or administrative order that has been issued against the principal and whether the principal has been convicted of a misdemeanor involving the lending industry or any aspect of the lending business or convicted of any felony, prior to the commissioner's approval of such change.
    III. Licensees shall notify the department of any change of address and the commissioner shall endorse such change of address on the person's license.
    IV. No licensee shall transact any business provided for by this chapter under a trade name or any other name different from the name stated in its license or branch office license without immediately notifying the commissioner, who shall then amend the license accordingly.
    V. As defined by rule, certain significant events shall be reported to the department in writing within 10 calendar days.
    VI. Any officer, owner, manager, or agent of any licensee, and any person controlling or having a contract under which he or she has a right to control such a licensee, whether exclusively or otherwise, and any person with executive authority over or in charge of any segment of such a licensee's affairs, shall reply promptly in writing, or in other designated form, to any written inquiry from the commissioner requesting a reply. The commissioner may require that any communication made to him or her under this section be verified.

Source. 2015, 73:1, eff. Jan. 1, 2016.