§ 19-9-1. Definitions. For purposes of this chapter: “Lending institution” includes any regulated institution and any person who or that makes loans of money or negotiates the lending of money for another in any state or jurisdiction. History of Section.P.L. 1995, ch. 82, § 47; P.L. 1997, ch. 98, § 8.
§ 19-9-10. Disbursement requirements — Purchase money loans — Dwellings. Any lending institution providing a purchase money first mortgage loan on a property within this state containing less than four (4) living units shall make disbursement of the loan proceeds on or before the date upon which the conveyance and/or mortgage documents are to be […]
§ 19-9-11. Control of deposits by minors. Every person not under guardianship who may make a deposit personally in any regulated institution may control, transfer, or withdraw the money so deposited, including accruing dividends or interest; notwithstanding, that the person at the time of exercising control or making the transfer or withdrawal, may be a […]
§ 19-9-12. Trust deposits — Death of trustee. If a deposit is made with any regulated institution by one person in trust for another, the name and residence of the person for whom it is made shall be disclosed, and it shall be credited to the depositor as trustee for that person. If no other […]
§ 19-9-13. Checks of trustees. When a deposit is made in a regulated institution in the name of two (2) or more persons as trustees, and a check is drawn upon the trust account by any trustee or trustees authorized by the other trustee or trustees to draw checks upon the trust account, neither the […]
§ 19-9-14. Deposits payable to survivor. When a deposit has been or shall be made in any regulated institution in the name of two (2) persons and payable to either or to the survivor, the deposit, or any part of the deposit, or any interest or dividend on the deposit, may be paid to either […]
§ 19-9-14.1. Uniform multiple-person accounts. (a) Definitions. For purposes of this section the following words and phrases shall have the following meanings, unless the context indicates another meaning: (1) “Account” means a contract of deposit between a depositor and a depository institution, and includes a checking account, savings account, certificate of deposit, and share account. […]
§ 19-9-15. Pledge of passbook accounts. Any deposit evidenced by a passbook in a regulated institution may be pledged by delivery of the passbook to the pledgee, with an order for its transfer; but this pledge shall not be effective to secure the deposit against any person other than the pledgor or his or her […]
§ 19-9-16. Replacement of lost or destroyed passbook. When any person to whom a passbook, share certificate, membership certificate, stock certificate, deposit certificate, or other form of investment contract has been issued by any regulated institution, or by any insured-deposit-taking institution organized under the laws of the United States, states in writing, under oath, to […]
§ 19-9-17. Charge-free savings accounts for minors. Every regulated institution shall provide for charge-free savings accounts to persons aged seventeen (17) years or less; provided, however, that the provisions of this section shall not apply to those accounts having a balance of five hundred dollars ($500) or more. History of Section.P.L. 1995, ch. 82, § […]
§ 19-9-18. Depositor identification. All regulated institutions shall, unless they have reason to doubt the validity of the identification, accept as sufficient identification for the cashing of checks and other banking transactions involving municipal, state, or federal funds in amounts less than seven hundred and fifty dollars ($750), duly authorized Rhode Island identification cards issued […]
§ 19-9-19. Checks on consumer deposit accounts to show date account was opened. (a) All checks, drafts, or similar negotiable or non-negotiable instruments or orders of withdrawal that are drawn against funds held by a regulated institution, as defined in this title, shall clearly display on the face the month and year in which the […]
§ 19-9-2. Escrow accounts — Interest. (a) Every mortgagee holding funds of a mortgagor in escrow for the payment of taxes and insurance premiums with respect to mortgaged property located in this state shall pay or credit interest on those funds at a rate equal to the rate paid to the mortgagee on its regular […]
§ 19-9-2.1. Mortgage billing — Payment allocation. All monthly billing by mortgagees to mortgagors must show the allocation of the mortgagor’s prior monthly payment to principal, interest, and escrow, if applicable. History of Section.P.L. 2006, ch. 636, § 1.
§ 19-9-20. Withdrawal from time deposit accounts. Except as required by federal law, no regulated institution or other insured-deposit-taking institutions organized under the laws of the United States shall assess any penalty for early withdrawal from any time deposit account if the owner of the account has died or been declared mentally incompetent by a […]
§ 19-9-21. Passbook savings accounts — Service charge prohibited. It shall be unlawful for any regulated institution or other insured-deposit-taking institution duly organized under the laws of the United States, to charge any service charge whatsoever for the holding of passbook savings deposits or accounts. History of Section.P.L. 1995, ch. 82, § 47.
§ 19-9-21.1. Fee disclosure by banks, credit unions and other financial institutions. Any bank, credit union, or other financial institution doing business in this state shall display a notice that enumerates that there may be charges imposed by the institution of which the customer may not be aware. History of Section.P.L. 1999, ch. 338, § […]
§ 19-9-22. Violations by officers and employees. Every president, director, officer, trustee, cashier, treasurer, teller, clerk, employee, or agent of any licensee licensed pursuant to chapter 14 of title 19, regulated institution, or other depository, who, without authority of the directors or trustees, issues or puts forth any certificate of deposit, draws any order or […]
§ 19-9-23. Theft, embezzlement or misapplication by regulated institution, lending, credit and insurance officer or employee. Every president, director, officer, trustee, cashier, treasurer, teller, clerk, or agent of any regulated institution, insurance company, or other depository who embezzles, abstracts, purloins, or willfully misapplies any of the moneys, funds, or credits entrusted to the custody or […]
§ 19-9-24. Fraudulent checks — Small amounts. (a) Any person who purchases any goods, materials, or services, makes payment for that purchase by check, draft, or order for payment of money, and takes possession of the goods or materials, or has the benefit of the service, and who subsequently orders payment stopped on the check, […]
