Part 9 — Cost of Credit Disclosure Division 1 Interpretation and Application
73 Business credit grantors
agreement involving a credit grantor who enters into the credit
agreement in the course of carrying on a business.
(2) Where the credit grantor deducts a brokerage fee from an
advance, the credit grantor's initial disclosure statement must
(a) disclose the amount o f the brokerage fee, and
(b) account for the brokerage f ee in the APR and the total cost
of credit.
(3) A loan broker who takes a loan application from a borrower
and forwards it to a credit grantor must give the borrower a
disclosure statement containing the information referred to in
subsection (2) and any other information required by this Part and
the regulations to be disclosed in an initial disclosure statement.
(4) Where a loan broker is required by subsection (3) to give the
borrower a disclosure statement, the credit grantor may adopt the
disclosure statement given by the loan broker as its own disclosure
RSA 2000
statement or may elect to deliver a separate disclosure statement to
the borrower that contains the required information.
1998 cF-1.05 s73