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Can you summarize NHRS Chapter 399-B?
PAWNBROKERS AND MONEYLENDERS (Chapters 398 - 399-G) > DISCLOSURE OF FINANCE CHARGES
Short Summary
This legal document, part of the New Hampshire Revised Statutes, governs the disclosure of finance charges in credit-related transactions. It applies to any individual, partnership, association, corporation, or unincorporated organization. The document defines key terms related to credit and provides a broad definition of finance charges, including interest, fees, service charges, discounts, and other associated charges. Its main purpose is to ensure transparency and disclosure of finance charges in various credit-related transactions. The document requires any person engaged in the business of extending credit to furnish a clear written statement to each person to whom credit is extended, setting forth the finance charges to be borne by such person. It also states that a finance charge statement or disclosure made in conformity with Federal Reserve Board Regulation Z or Regulation M shall fulfill the finance charge statement requirements. Violation of this document may result in misdemeanor or felony charges, depending on the nature of the violator. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Any individual, partnership, association, corporation, or unincorporated organization
What does it govern?
Disclosure of finance charges
What are exemptions?
No exemptions are specified
What are the Penalties?
Whoever wilfully violates any provision of RSA 399-B shall be guilty of a misdemeanor if a natural person, or guilty of a felony if any other person.
Jurisdiction
New Hampshire