Banking Regulation 3- Home Loan Protection Act
230-RICR-40-10-3 INACTIVE RULE
| Title | 230 | Department of Business Regulation (includes the Office of the Health Insurance Commissioner) |
| Chapter | 40 | Banking |
| Subchapter | 10 | Lending |
| Part | 3 | Banking Regulation 3- Home Loan Protection Act |
| Type of Filing | Adoption |
| Regulation Status | Inactive |
| Effective | 05/01/2007 to 10/18/2018 |
Regulation Authority:
R.I. Gen. Laws §§ 34-25.2-12; 42-14-17; 42-35-3
Purpose and Reason:
The Department of Business Regulation (“Department”) hereby adopts Banking Regulation 3 effective May 1, 2007 and makes this statement in accordance with R.I. Gen. Laws § 42-35-2.3. The purpose of this regulation is to set forth procedures, interpretations, and clarifications in order to: (a) provide guidelines and requirements to Regulated Institutions as defined in R.I. Gen. Laws § 19-1-1 (unless otherwise exempt) and Lenders and Loan Brokers as defined in R.I. Gen. Laws § 19-14-1; and; (b) to ensure compliance with and the promotion of the purposes of the provisions of R.I. Gen. Laws § 34-25.2-1 et seq. entitled Rhode Island Home Loan Protection Act (hereinafter referred to as “the Act”). There are numerous differences between the text of the proposed regulation as published in accordance with R.I. Gen. Laws § 42-35-3 and the regulation as adopted. There were editing changes made to improve content for readability, capitalization of all defined terms, outlining changes, formatting changes, and other self-explanatory amendments. The material, substantive changes are set forth in the official paper filing of this Regulation.
