FAQ: Updated Retail Installment Sales Regulations (RSA 361-A)

NHADA members who have received an email notice from us regarding this session have been identified as a likely candidate for a 2025 audit by the NH Banking Department (NHBD).

Please register the appropriate person for the training session below:

When: February 20, 2025, from 9 AM - 11 AM
Where: NHADA Headquarters, 507 South Street, Bow, NH 03304
Cost: Free

Overview:

HB 1243, which repealed and reenacted RSA 361-A (the Retail Installment Contract law), was signed into law on August 2, 2024, by Governor Sununu. The new provisions of RSA 361-A went into effect upon signing. The New Hampshire Banking Department, which has always had audit authority over retail vehicle sellers, now plans to do an electronic audit of all licensees.

This free session will be an overview of how to prepare for your audit, followed by a Q&A.

New questions and answers are being added to the FAQ, which can be found at the top of the Motor Vehicle Retail Seller and Sales Finance Companies page, linked here.

Questions?
Please contact Dan Bennett, NHADA President at (603) 224-2369 or dbennett@nhada.com