RSA 358-K:4-a · Exception to Achieve a Common or Convenient Monthly Payment Date

358-K:4-a Exception to Achieve a Common or Convenient Monthly Payment Date. – 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. Source. 1986, 92:3, eff. July 1, 1986.

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