This bill introduces new requirements for consumer contracts related to home heating oil, kerosene, and liquefied petroleum gas. It amends RSA 339:79 to include provisions for guaranteed price plans, prepaid contracts, and other petroleum contracts. Key insertions include mandates for written contracts that disclose terms and conditions, including pre-buy fees and ancillary charges, as well as dealer contact information and consumer protection hotline details. Additionally, the bill specifies that contracts must clearly state the total payment amount, gallons committed, price per gallon, payment terms, and any tank rental or ancillary fees. It also establishes that dealers must reimburse consumers for undelivered fuel and prorated fees within 30 days after contract termination.

Furthermore, the bill outlines security requirements for dealers offering prepaid contracts, such as obtaining futures contracts or surety bonds to ensure they can fulfill their obligations. It also mandates that dealers register their intent to offer prepaid contracts and file annual reports demonstrating compliance with the new regulations. New provisions include a 60-day timeframe for dealers to remove tanks upon consumer notification of contract discontinuation and a prohibition on charging rental fees for tanks owned by other companies or consumers. Failure to comply with these regulations is classified as an unfair or deceptive act under RSA 358-A. The act will take effect 60 days after passage.

Statutes affected:
Introduced: 339:79
HB1262 text: 339:79