BANKING REGULATION 5 MORTGAGE FORECLOSURE


230-RICR-40-10-4 INACTIVE RULE

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Title 230 Department of Business Regulation (includes the Office of the Health Insurance Commissioner)
Chapter 40 Banking
Subchapter 10 Lending
Part 4 BANKING REGULATION 5 MORTGAGE FORECLOSURE
Type of Filing Technical Revision
Regulation Status Inactive
Effective 10/20/2014 to 10/01/2015

Regulation Authority:

R.I. Gen. Laws §§, 34-27-3.2, 34-27-7, 42-14-17 and 42-35-3

Purpose and Reason:

The purpose of this Regulation is to promulgate the form of written notices required pursuant to R.I. Gen. Laws §§ 34-27-3.2 and 34-27-7. This Regulation also clarifies the Mortgagee’s duties and consequences of its failure to comply with R.I. Gen. Laws § 34-27-3.2 and this Regulation. Readers are cautioned to consult the statutes for additional obligations not repeated in this Regulation. R.I. Gen. Laws § 34-27-3.2 and this Regulation apply to all entities and individuals subject to regulation and supervision by the Rhode Island Division of Banking (“Division”) as 2 well as to any Mortgagee holding a loan owned or payable