MHHS · Consumer Protection Act
Part 12 — .01
124.02 Licence required
activities of the high-cost credit business unless the person is the
holder of a high-cost credit business licence issued under this Act.
(2) No person may claim or advertise that the person is a high-cost
credit business operator or carries on the activities of the high-cost
credit business unless the person is the holder of a high-cost credit
business licence issued under this Act.
(3) A high-cost credit business operator shall, in accordance with
the regulations,
(a) disclose information respec ting high-cost credit agreements,
and
(b) use prescribed agreements or contract terms for providing
high-cost credit.
(4) If required to do so by the applicable regulation, a person who
carries on the activities of the high-cost credit business at more
than one location must hold a separate licence issued under this Act
for each location that authorizes the person to carry on that
business.
(5) The Minister may make regulations respecting the high-cost
credit business including, without limitation, regulations
(a) respecting the calculation of the rate referred to in section
124.01(a);
(b) specifying activities that constitute engaging in the high -cost
credit business for the purposes of this Part;
(c) respecting the licensing o f high-cost credit business
operators;
(d) respecting the disclosure of information by high-cost cred it
business operators;
(e) respecting the form and cont ent of agreements or contract
terms used by high-cost credit business operators;
(f) respecting the duties and obligations of persons carrying on,
or engaged or employed in the high-cost credit business;
RSA 2000
(g) prescribing or adopting, with or without modification,
codes, standards or rules governing
(i) the manner of carrying on the high-cost credit business,
(ii) experience and education re quirements and requirements
as to the financial responsibility of persons carrying on
or wishing to carry on the high-cost credit business,
(iii) the type and condition of p remises and equipment used
in the high-cost credit business,
(iv) lending practices for high- cost credit business operators,
and
(v) the conduct of persons engaged in carrying on the
high-cost credit business;
(h) respecting the manner of in forming members of the public
of
(i) any sale of or dealing with goods, products or services of
the high-cost credit business operator, and
(ii) contraventions of this Part;
(i) respecting terms and conditions for a high-cost credit
business operator that has contravened this Part or the
regulations made under this Part to continue operating as a
high-cost credit business operator under this Part;
(j) respecting the suspension or cancellation of a high-cost
credit business licence;
(k) prescribing in respect of any high-cost credit business
operator that the approval of any authority specified by the
Minister is required for the obtaining or renewal of a licence
or the establishment of that business;
(l) respecting advertising by high-cost credit business
operators;
(m) requiring that specified rec ords be maintained by any class
of high-cost credit business operator;
(n) exempting a person or class of persons from high-cost cred it
business licensing requirements.
2017 c18 s1(12)
RSA 2000