This bill amends current law by repealing the requirement that vehicle funding loan contracts must have successive periodic payments that are substantially equal in amount. Specifically, it targets RSA 361-A:17, VI(c), which previously mandated this condition for such contracts. The removal of this requirement allows for greater flexibility in structuring loan repayment terms.

The bill is set to take effect 60 days after its passage, with an approval date of July 15, 2025, and an effective date of September 13, 2025. This change aims to facilitate more varied payment arrangements for borrowers, potentially making vehicle financing more accessible.

Statutes affected:
Introduced: 674:16, 674:21, 674:44, 674:16-a
As Amended by the House: 674:16
As Amended by the Senate: 361-A:17
Version adopted by both bodies: 361-A:17
CHAPTERED FINAL VERSION: 361-A:17