MHHS · Consumer Protection Act
Part 9 — Cost of Credit Disclosure Division 1 Interpretation and Application
85 Statement of account
statement of account to the borrower at least monthly.
(2) A credit grantor is not required to send a statement of account
to a borrower at the end of any period during which there have
been no advances or payments where
(a) the outstanding balance is zero, or
(b) the borrower is in default and has been notified that the
privilege of obtaining advances under the agreement has
been cancelled or suspended and the credit grantor has
demanded payment of the outstanding balance.
(3) The credit grantor must provide a telephone number at which
the borrower can make inquiries about the borrower's account
during the credit grantor's ordinary business hours without
incurring any charges for the call.
(4) A statement of account must disclose the information
prescribed by the regulations.
(5) A credit grantor who, pursuant to the agreement, changes the
interest rate under the agreement shall deliver a disclosure
statement to the borrower disclosing the change
(a) in the next statement of account after the change, in the case
of a credit agreement that is not for a credit card, and
(b) at least 30 days before the change, in the case of a credit
agreement that is for a credit card where the interest rate is
not a floating rate.
RSA 2000
(6) A credit grantor who, pursuant to the agreement, changes any
of the information prescribed under section 84 other than the
interest rate under the agreement shall deliver a disclosure
statement to the borrower disclosing the change
(a) in the next statement of account after the change if the
change is not a material change, as prescribed, and
(b) at least 30 days before the change if the change is a mate rial
change, as prescribed.
RSA 2000 cF-2 s85;2005 c9 s31