Section 399-D:3 License Required.
I. Any person that, in its own name or on behalf of other persons, engages in the business of debt adjustment in this state or with persons located in this state shall be required to obtain a license from the banking department. Persons subject to this chapter shall be responsible for the supervision of their employees, agents, and branch offices.
II. The fact that a person is licensed or registered in the state of New Hampshire under this chapter does not constitute a finding that the commissioner has passed in any way upon the merits or qualifications of such person or that the commissioner has recommended or given approval to any person. It is unlawful to make, or cause to be made, to any prospective purchaser, customer, or client any representation inconsistent with the provisions of this paragraph.
III. If a person, or a person's members, officers, directors, agents, and employees, violates paragraph I of this section, the debt adjustment contract shall be void and the person shall have no right to collect, receive, or retain any interest or charges whatsoever whether paid or received directly or indirectly. Any such direct or indirect compensation received by the person shall be refunded to the consumer.
Source. 2004, 230:1, eff. Sept. 9, 2004. 2009, 204:22, eff. Sept. 13, 2009.