Banking Regulation 3- Home Loan Protection Act


230-RICR-40-10-3 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 3 Banking Regulation 3- Home Loan Protection Act
Type of Filing Adoption
Regulation Status Inactive View Active Rule
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.

There are no electronic rulemaking documents for rules filed prior to August 14, 2018. For rulemaking documents for rules filed prior to this date, please contact the appropriate agency's Rules Coordinator.