New Hampshire Revised Statutes 358-K:4-a – Exception to Achieve a Common or Convenient Monthly Payment Date
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Terms Used In New Hampshire Revised Statutes 358-K:4-a
- month: shall mean a calendar month, and the word "year" a calendar year, unless otherwise expressed; and the word "year" shall be equivalent to the expression "year of our Lord. See New Hampshire Revised Statutes 21:8
Any provision of this chapter to the contrary notwithstanding, interest on any closed-end consumer credit transaction may be collected in advance for origination fees at the inception of such transaction or for a fractional part of a month (less than 30 days) from the inception of such consumer credit transaction to a monthly payment date that the creditor commonly uses in such transactions, or that the creditor considers to be more convenient administratively as a monthly payment date than the transaction inception date, such as the first day of the month.