New Hampshire Convertible Promissory Note Overview
A convertible promissory note in New Hampshire is a debt instrument commonly used in startup financing that converts into equity upon a triggering event. As a security, it must comply with both federal regulations (SEC Rule 506 under Regulation D) and New Hampshire's state securities laws. The primary state exemption is: RSA 421-B exemption.
New Hampshire requires Form D filing required when issuing convertible notes. The state provides enhanced protections for note holders through its securities regulatory framework. The interest rate must comply with New Hampshire's 10% usury limit, though most convertible note rates (2-8%) fall well below this threshold. Companies should work with an attorney familiar with New Hampshire securities law to ensure full compliance.
Available
Securities exemption
Required
SOS filing
10%
Usury rate
Enhanced
Investor protections
New Hampshire Requirements
New Hampshire has specific requirements for convertible promissory notes that both parties should understand before entering into the agreement.
- Interest Rate: Must not exceed New Hampshire's usury limit of 10%
- Written Agreement: Must be in writing and signed by the borrower (maker)
- Clear Terms: Principal amount, interest rate, payment schedule, and maturity date must be clearly stated
- Default Terms: Late fees, grace periods, and acceleration clause must comply with New Hampshire law
- Governing Law: The note should specify New Hampshire as the governing jurisdiction
How to Create a New Hampshire Convertible Promissory Note
Follow these steps to create a New Hampshire-compliant convertible promissory note using our template.
Enter Party Information
Provide the full legal names and New Hampshire addresses of both the lender (payee) and borrower (maker). Include the date the note is being executed.
Define Loan Terms
Specify the principal amount, interest rate (within New Hampshire's 10% usury limit), payment schedule, and maturity date. Our template calculates the payment breakdown automatically.
Set Default and Late Payment Terms
Define the grace period, late fee amount, acceleration clause triggers, and notice requirements. Our New Hampshire template includes compliant default language.
Sign and Execute
The borrower must sign and date the note. Consider notarization for added legal protection. Both parties should retain a copy. If secured by collateral, file the appropriate security instrument with New Hampshire's recording office.
Securities Compliance in New Hampshire
When issuing convertible promissory notes in New Hampshire, you must comply with the state securities exemption (RSA 421-B exemption), file the required Form D filing required, ensure the interest rate stays within the 10% usury limit, and follow New Hampshire's investor protection requirements (enhanced protections). Federal Form D must be filed with the SEC within 15 days of the first sale. Our New Hampshire-specific template ensures compliance with both state and federal securities regulations.
New Hampshire Usury Warning
New Hampshire's usury limit is 10%. Charging interest above this rate can render your promissory note unenforceable and may subject the lender to penalties under New Hampshire law. Our template automatically validates your interest rate against New Hampshire's current limits.
New Hampshire Convertible Promissory Note FAQ
Answers to common questions about convertible promissory notes in New Hampshire.
Official New Hampshire Resources
Use these official resources to verify New Hampshire requirements for your convertible promissory note.
Other New Hampshire Promissory Note Types
Need a different type of promissory note for New Hampshire? We offer state-specific templates for every type of promissory note.
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Create your New Hampshire Convertible Promissory Note in under 5 minutes.
Answer a few questions and download a New Hampshire-compliant document, ready for the state agency.