New Hampshire § 402-29 - Section 402:29 Loans to Transferred Employees.
Full text of New Hampshire New Hampshire Revised Statutes Annotated § 402-29 — Section 402:29 Loans to Transferred Employees., with citation guidance and answers to common questions.
§ 402-29. Section 402:29 Loans to Transferred Employees.
A company may lend funds, on a secured basis, to an employee to defray, in whole or in part, the expenses of such employee who has been transferred. The maximum amount of any such loan to an employee shall be $250,000. This section also shall not prohibit the taking of a secured mortgage by a company on real property serving as the residence of any of its officers, employees, or directors. Such mortgage shall not exceed 85 percent of the appraised value of such realty as determined by an independent appraiser or the market value, whichever is the lesser amount. One of the terms of such mortgage shall provide that the outstanding balance of the mortgage becomes immediately due and payable to the company upon termination of the employment, or officer or director relationship, between the company and the mortgagor, or upon termination of said person's ownership of said real property.
Source: official New Hampshire text · Last verified 2026-08-27
Frequently Asked Questions About New Hampshire § 402-29
What does New Hampshire Revised Statutes Annotated § 402-29 cover?
Section 402-29 ("Section 402:29 Loans to Transferred Employees.") is part of the New Hampshire Revised Statutes Annotated, the codified statutory law of New Hampshire. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Hampshire § 402-29?
A common citation format is "New Hampshire Revised Statutes Annotated § 402-29" (New Hampshire). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Hampshire law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Hampshire official source linked on this page or consult a licensed New Hampshire attorney.
How does New Hampshire § 402-29 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Hampshire can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Hampshire.