§ 19-4-1. Examination on application by depositors, stockholders, directors, or trustees. Upon the written application, under oath, to the director, or the director’s designee, by depositors representing five percent (5%) of the deposits of any financial institution, as shown by the last published return of the financial institution, or upon the written application to the […]
§ 19-4-10. Insurance of deposits. Any regulated institution permitted by law to receive deposits, except a financial institution prevented from accepting deposits by its bylaws or agreement to form, shall maintain federal deposit insurance. Failure to maintain federal deposit insurance shall be deemed sufficient cause for the director, or the director’s designee, to revoke the […]
§ 19-4-11. Summons of witnesses — Obstruction or refusal to give information — Prosecution of violations. The director, or the director’s designee, may summon the directors, trustees, employees, officers, or agents of any regulated institution and any other witnesses that he or she thinks proper, and examine them relative to the affairs, transactions, and condition […]
§ 19-4-12. Order to cease unlawful or unsafe practices — Impairment of capital — Appeal. (a) Whenever it appears to the director, or the director’s designee, that a regulated institution has violated its agreement to form, or any law or regulation, or is conducting its business in an unauthorized or unsafe manner, or the regulated […]
§ 19-4-13. Continuance of business after suspension prohibited. After suspension of the right of a regulated institution to do business, the regulated institution affected shall cease to have any right to continue its business, except for the purpose of winding up the affairs of the regulated institution. Any officers, directors, or agents of the regulated […]
§ 19-4-14. Appeal of orders — Enforcement. (a) Any person or regulated institution aggrieved by a final order of the director, or the director’s designee, made under the authority of this title may appeal to the superior court pursuant to chapter 35 of title 42. (b) The director, or the director’s designee, may apply to […]
§ 19-4-15. Examination of books to determine violations — Prosecution of offenses. (a) The director, or the director’s designee, shall have authority to examine, at any time, the accounts, books, and papers of any person in the business of receiving money on deposit, in order to ascertain whether the person has violated or is violating […]
§ 19-4-16. Rules and regulations. The director, or the director’s designee, may adopt reasonable rules and regulations for the implementation and administration of this title. History of Section.P.L. 1995, ch. 82, § 42.
§ 19-4-17. Unauthorized banking business. (a) No person, except regulated institutions, including any bank or trust company that has established a trust branch office in this state pursuant to the provisions of § 19-3.1-6(b), or banks or credit unions organized under the laws of the United States or of any other state within the United […]
§ 19-4-17.1. Use of regulated financial institutions without permission prohibited. Notwithstanding any general or special law to the contrary, a person, domestic or foreign corporation, partnership, association, limited-liability company, or similar entity shall not use the name, trade name, or trademark of any covered institution in any written or oral advertisement or solicitation for products […]
§ 19-4-18. Severability. If any provision of this chapter or the application of this chapter to any person or circumstances is held invalid or unconstitutional, the invalidity or unconstitutionality shall not affect other provisions or applications of this chapter that can be given effect without the invalid or unconstitutional provision or application, and to this […]
§ 19-4-19. Resident agent — Financial institutions. Each bank and lending institution doing business in this state, whether acting under state or federal authority, shall maintain a resident agent in this state who shall have authority to endorse insurance claim checks on behalf of those banks and lending institutions, which banks and lending institutions shall […]
§ 19-4-2. Periodic examinations — Access to records. (a) The director, or the director’s designee, shall, whenever he or she considers it advisable, but at least once in each year, examine each regulated institution. However, the director may extend the examination period for eligible financial institutions to at least once every eighteen (18) months. For […]
§ 19-4-3. Records of examinations and reports. (a) The director, or the director’s designee, shall preserve a full record of each examination. The records and information contained in reports of the regulated institution may be provided by the director, or the director’s designee, to the regulated institution examined. (b) Confidential treatment. (1) Documents, materials, or […]
§ 19-4-4. Audits. Every regulated institution audited by a licensed, independent certified public accountant pursuant to applicable federal law or regulation shall submit a copy of the audit to the director, or the director’s designee, within thirty (30) days of receipt of the audit. History of Section.P.L. 1995, ch. 82, § 42.
§ 19-4-5. [Repealed.] History of Section.P.L. 1995, ch. 82, § 42; repealed by P.L. 2022, ch. 338, § 7, effective June 29, 2022; repealed by P.L. 2022, ch. 339, § 7, effective June 29, 2022.
§ 19-4-6. Time and frequency of reports of financial institutions and credit unions. Every financial institution and credit union, at those times that the director, or the director’s designee, shall require, but at least once in each calendar year, shall render a report to the director, or the director’s designee, signed and sworn to by […]
§ 19-4-7. [Repealed.] History of Section.P.L. 1995, ch. 82, § 42; repealed by P.L. 2022, ch. 338, § 7, effective June 29, 2022; repealed by P.L. 2022, ch. 339, § 7, effective June 29, 2022.
§ 19-4-8. Delay of reports. Any financial institution or credit union that delays transmission of any of the reports required by this chapter beyond the limits set by this chapter, unless additional time is granted in writing for proper cause by the director, or the director’s designee, shall pay a penalty of twenty-five dollars ($25.00) […]
§ 19-4-9. Reports to general assembly. The director shall make available, by electronic means, the annual reports filed by all financial institutions and credit unions regulated by him or her and shall provide such reports to members of the public and general assembly upon request. History of Section.P.L. 1995, ch. 82, § 42; P.L. 2015, […]
