LAW-Alert-553-NH-1024

Please note there have been revisions made to the LAW®553-NH(4P)9/23 and the LAW®553-NH-ARB9/23. The new form numbers are LAW®553-NH(4P)11/24 and LAW®553-NH-ARB11/24.

The contracts have been revised to help address changes required by House Bill 1243 (“H.B. 1243” or “the Bill”), which repeals and replaces the Retail Installment Sales of Motor Vehicles Chapter, N.H. Rev. Stat. Ann. §§ 361-A:1 et seq. The legislation made numerous changes to the state’s existing law. Governor Sununu signed H.B. 1243 on August 02, 2024, but the Bill became retroactively effective on July 1, 2024. The New Hampshire Department of Banking began releasing interpretive guidance in late August to assist with the many open compliance questions.

As a result, the following revisions were made:

For dealers using the stand-alone Arbitration Agreement, the LAW-ARB8/22 version can be used with the new 553-NH revision.

Dealers will need to consult with their DMS provider regarding reprogramming requirements for new or updated documents.

You can place orders for the most recent version of any LAW document through our online portal ReySource, by contacting your Document Services Consultant, or calling 1.800.344.0996.

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