New Hampshire Revised Statutes 359-D:2 – Definitions
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In this chapter:
I. “Buyer” means any natural person who is solicited to purchase or who purchases the services of a credit services organization.
II. (a) “Credit services organization” means any person, who, with respect to the extension of consumer credit by others, sells, provides, or performs, or represents that he can or will sell, provide, or perform, in return for the payment of money or other valuable consideration, a service for the express or implied purpose of:
(1) Improving a buyer’s credit record, credit history, or credit rating.
(2) Obtaining an extension of consumer credit for a buyer.
(3) Providing advice or assistance to a buyer with regard to the buyer’s credit record, credit history, or credit rating.
(b) “Credit services organization” does not include:
(1) A depository institution whose deposits are insured by the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, or the National Credit Union Administration Board, or a depository institution chartered by this state.
(2) Any nonprofit organization exempt from taxation under section 501(c)(3) of the Internal Revenue Code.
(3) A real estate broker licensed by this state and acting within the course and scope of his license.
(4) An attorney licensed by this state or another state rendering services within the course and scope of that license.
(5) Any broker-dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of the regulations of these commissions.
(6) Any consumer reporting agency, as defined in N.H. Rev. Stat. § 359-B:3, VI, acting within the course and scope of that chapter.
(7) [Repealed.]
III. “Extension of credit” means the right to defer payment of debt or to incur debt and defer its payment, offered or granted primarily for personal, family, or household purposes.
IV. “Person” means any individual, partnership, corporation, trust, estate, cooperative, association, or other entity.
I. “Buyer” means any natural person who is solicited to purchase or who purchases the services of a credit services organization.
Terms Used In New Hampshire Revised Statutes 359-D:2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- real estate: shall include lands, tenements, and hereditaments, and all rights thereto and interests therein. See New Hampshire Revised Statutes 21:21
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
II. (a) “Credit services organization” means any person, who, with respect to the extension of consumer credit by others, sells, provides, or performs, or represents that he can or will sell, provide, or perform, in return for the payment of money or other valuable consideration, a service for the express or implied purpose of:
(1) Improving a buyer’s credit record, credit history, or credit rating.
(2) Obtaining an extension of consumer credit for a buyer.
(3) Providing advice or assistance to a buyer with regard to the buyer’s credit record, credit history, or credit rating.
(b) “Credit services organization” does not include:
(1) A depository institution whose deposits are insured by the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, or the National Credit Union Administration Board, or a depository institution chartered by this state.
(2) Any nonprofit organization exempt from taxation under section 501(c)(3) of the Internal Revenue Code.
(3) A real estate broker licensed by this state and acting within the course and scope of his license.
(4) An attorney licensed by this state or another state rendering services within the course and scope of that license.
(5) Any broker-dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of the regulations of these commissions.
(6) Any consumer reporting agency, as defined in N.H. Rev. Stat. § 359-B:3, VI, acting within the course and scope of that chapter.
(7) [Repealed.]
III. “Extension of credit” means the right to defer payment of debt or to incur debt and defer its payment, offered or granted primarily for personal, family, or household purposes.
IV. “Person” means any individual, partnership, corporation, trust, estate, cooperative, association, or other entity.