BANKING REGULATION 5 MORTGAGE FORECLOSURE
230-RICR-40-10-4 INACTIVE RULE
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