Section 261:150 Transfer Credits.
I. Upon transfer of ownership of a vehicle the permit shall expire; provided, however, that any owner who has paid a permit fee for registration of a vehicle the ownership of which is transferred or of one which is subsequently totally lost by fire, theft, or accident, during the same registration period, shall be entitled, upon the payment of $5, to credit to the amount of any such permit fee toward other permit fees which may be required of him in the same registration period. The difference, if any, between the credit and the amount due on the newly registered vehicle shall be prorated for the remainder of the registration period.
II. If the ownership of a vehicle is not transferred, but the owner wishes to register another vehicle under the original vehicle registration during the same registration period, he shall be entitled, upon the payment of $5, to credit the amount of any such permit fee toward other permit fees which may be required of him in the same registration period. The difference, if any, between the credit and the amount due on the newly registered vehicle shall be prorated for the remainder of the registration period.
III. Any person who owns a vehicle and transfers the registration on that vehicle to a leased vehicle, and any person who leases a vehicle and transfers the registration on that vehicle to an owned or leased vehicle shall be entitled to a credit for the permit fee in the same manner and subject to the same fee as provided in this section. The registration shall be processed to expire according to the formula set forth in RSA 261:62. If the transfer extends the expiration of the existing registration, pro-rated fees shall be charged for the additional months in the new registration period. If the transfer shortens the registration period from the existing registration period no refund shall be issued.
Source. 1919, 55:3. 1921, 120:2. PL 100:12. 1929, 5:1. 1937, 76:1; 113:3. RL 116:18. RSA 260:25. 1957, 24:1. 1959, 150:2. 1965, 153:1. 1975, 497:7. 1977, 314:3. 1978, 38:4. 1979, 215:1. 1981, 146:1. 1983, 285:10. 1986, 161:2. 1992, 25:2, eff. Jan. 1, 1993.