On Jun. 25, NH LEG bill on consumer guarantee contract standards.
NH LEG passed SB 515 to revise requirements for consumer guarantee contracts.
Amended NH INS 415-C on consumer guaranty contracts registration, disclosures.
Bill Provisions
Obligor's registration must include the obligor's name, address, and phone number.
Other information on obligor's condition as may be required including, name, address, phone number of all administrators and sellers which must be updated at least yearly.
Defined contract form and language consumer disclosure and filing requirements.
Established prohibited acts and terms related to consumer guaranty contracts.
Legislative History
On Dec. 14, 2023, bill was introduced in Senate; on Jun. 24, 2024, bill passed Senate.
On Mar. 2, 2024, bill was introduced in House; on Jun. 25, 2024, bill passed House.
Effectiveness
If approved, act shall take effect Jan. 1, 2025.
Jul. 3, 2024 NH LEG Governor Approval
On Jul. 3, 2024, NH LEG reported governor approved bill, effective on Jan. 1, 2025.
Jul. 10, 2024 NH LEG Governor Approval
On Jul. 10, 2024, NH LEG reported bill assigned Chapter 166 after Jul. 3rd signing.
In Jul. 2024, NH INS reported on SB 515 passage and consumer protections, #219442
Regulators
NH LEG
Entity Types
Corp; Ins
Reference
NH LEG: Ch. 166, 7/10/2024; PR, Act, 7/3/2024; Bill SB515, 6/25/2024; Citation: NH INS 415-C;
