§ 47-28-108. Priority of Advances
Any advance made by the creditor: Before the effective date of any notice of limitation from the borrower, made in accordance with this chapter; or In response to a request or demand initiated by the borrower prior to the service of an effective notice of limitation, made in accordance with this chapter, shall be entitled […]
§ 47-28-109. Increases or Advances Exceeding Contract Limits or Not Covered by Contract
Notwithstanding the limitations specified in any mortgage, or imposed by a borrower by means of serving and recording a notice of limitation: Any increase in the principal balance of an indebtedness secured by any mortgage as a result of negative amortization or deferred interest; Any advance which the creditor is obligated under the terms of […]
§ 47-28-110. Applicability and Construction of Chapter
This chapter applies to all loan or credit agreements and mortgages entered into from and after June 30, 1987. No provision herein shall be construed to: Invalidate a provision of any mortgage or contract entered into prior to June 30, 1987; Deny or curtail the right to a release of lien where the obligation it […]
§ 47-29-101. Liability for Dishonored Check — Damages
A person who, having executed and delivered to another person a check or draft drawn on or payable at a bank or other financial institution, with fraudulent intent, which may be inferred as provided by § 39-14-121, either stops payment on the check or draft, or allows the check or draft to be dishonored by […]
§ 47-29-102. Handling Charge
When any check, draft, or order is not paid by the drawee because the maker or drawer did not have an account with or sufficient funds on deposit with the financial institution, or the draft, check, or order has an incorrect or insufficient signature thereon, the payee of such check, draft, or order is authorized […]
§ 47-28-103. Priority of Advances
The following advances relate back to the time of the recording of the mortgage, and are prior and superior to subsequent encumbrances and conveyances: All advances, whether obligatory or optional, made under an open-end mortgage in accordance with this chapter; All obligatory advances made under any mortgage securing a revolving credit agreement that is not […]
§ 47-28-104. Prerequisites for Priority Status
All open-end mortgages, in order to have the priority provided in § 47-28-103, must contain the following: A statement or other notice conspicuously identifying the mortgage as an open-end mortgage; A provision fixing a stated term for the duration of the open-end credit agreement, which term and any extension thereof made pursuant to the provisions […]
§ 47-28-105. Reduction in Credit Limit — Notice of Limitation
The credit limit under an open-end mortgage may be reduced by the borrower, whether the advances to be made thereunder are obligatory or optional, to an amount not less than the amount of principal indebtedness shown on the most recent statement of the borrower’s account received by the borrower from the creditor, plus the amount […]
§ 47-26-1111. Reciprocal Agreements
The commissioner may enter into an informal reciprocal agreement with any other state or states with similar registration policies whereby the registered servicepersons and the registered service agencies of the party states are granted reciprocal authority of certification of standards and testing equipment.
§ 47-26-1112. Revocation of Certificate of Registration
The commissioner is authorized to suspend or revoke a certificate of registration for good cause, which includes, but is not limited to: taking of unfair advantage of an owner of a device; failure to have test equipment or standards certified; failure to use adequate testing equipment; failure to adjust commercial or law enforcement devices to […]