CHAPTERCommerce 166February SB6, 5152024 -2024-0521s FINAL05/06 VERSIONAmendment 02/15/2024to 0521sSB SESSION515 24-2857Amend 05/10the SENATEbill BILLby 515replacing ANsections ACT3-6 relativewith tothe consumerfollowing: guarantee contracts.

SPONSORS:3 3 New Section;

Sen.

Lang, Dist 2;

Sen.

Pearl, Dist 17;

Sen.

Innis, Dist 7;

Rep.

Moffett, Merr.

4 COMMITTEE:

Commerce ───────────────────────────────────────────────────────────────── ANALYSIS This bill revises requirements for consumer guarantee contracts.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Explanation:

Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.] Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

CHAPTER 166 SB 515 - FINAL VERSION 02/15/2024 0521s 24-2857 05/10 STATE OF NEW HAMPSHIRE In the Year of Our Lord Two Thousand Twenty Four AN ACT relative to consumer guarantee contracts.

Be it Enacted by the Senate and House of Representatives in General Court convened:

166:1 New Subparagraph;

Definition of Consumer Guaranty Contracts;

Manufacturers' Service Contracts Added.

Amend RSA 415-C:1, III(b) by inserting after subparagraph (8) the following new subparagraph:

(9) Manufacturer's service contracts on the manufacturer's products.

166:2 Obligor Registration.

Amend RSA 415-C:3, II to read as follows:

II.

An obligor's registration shall include the following:

(a) The obligor’s name, address, and phone number.

(b) A certified copy of the obligor's charter and bylaws.

[(b)] (c) A certificate giving a full statement, under oath of the obligor's president and secretary, that the fiscal requirements stated in this chapter are met.

[(c)] (d) Other information in relation to the obligor's condition as may be required by the commissioner, including, but not limited to, the name, address and phone number of all administrators and sellers which shall be updated at least yearly.

166:3 New Section;

The commissioner may require the obligor to change forms and provisions if they do not comply with the requirements of law, are not in the public interest, are contrary to public policy, are inequitable, misleading, deceptive, or encourage misrepresentation of such contract.contracFiled forms and any supporting information that is not exempt from disclosure by law or rule shall be open to public inspection upon filing.

Filed forms and any supporting information that is not exempt from disclosure by law or rule shall be open to public inspection upon filing.

166:44 Prohibited Acts and Terms.

CHAPTER 166 SB 515 - FINAL VERSION - Page 2 - (a) Make, publish, print, distribute, issue, circulate, advertise, or place before the public, any statement or representation that is false or misleading.

Amendment to SB 515 - Page 2 - (d) Engage in unbranded consumer-specific direct marketing that does not include the name, address, and phone number of the seller and the name of the obligor as filed with the insurance department.

This section shall not apply to a company that was using any of the prohibited language in its name prior to the effective date of this section.sectionHowever, a company using the prohibited language in its name shall conspicuously disclose in its consumer guaranty contracts a statement substantially as follows:

However, a company using the prohibited language in its name shall conspicuously disclose in its consumer guaranty contracts a statement substantially as follows:

(a) Fail to acknowledge and act reasonably and promptly upon communications with respect to claims arising under a consumer guaranty contract.contract;

(b) Fail to adopt and implement standards for the prompt and reasonable investigation of claims arising under consumer guaranty contracts.contracts;