02/12/04 0321s

2004 SESSION

04-3067

06/10

SENATE BILL 428

COMMITTEE: Banks

AMENDED ANALYSIS

This bill establishes a committee to study ways to protect consumers from unfair lending practices.

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

02/12/04 0321s

04-3067

06/10

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Four

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

1 Committee Established. There is established a committee to study the protection of consumers from unfair lending practices.

2 Membership and Compensation.

I. The members of the committee shall be as follows:

(a) One member of the senate, appointed by the president of the senate.

(b) Four members of the house of representatives, appointed by the speaker of the house.

II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.

3 Duties. The committee shall study ways to protect consumers from unfair lending practices.

4 Chairperson; Quorum. The senate member shall be the chairperson of the study committee. The first meeting of the committee shall be called by the senate member. The first meeting of the committee shall be held within 45 days of the effective date of this section. Three members of the committee shall constitute a quorum.

5 Report. The committee shall report its findings and any recommendations for proposed legislation to the senate president, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library on or before November 1, 2004.

6 Effective Date. This act shall take effect upon its passage.