§ 2235. Requirements for assignment of wages
§ 2235. Requirements for assignment of wages No assignment of or order for payment of any salary, wages, commissions, or other compensation for services, earned or to be earned, given to secure any loan made by any licensee under this chapter, shall be valid unless the amount of such loan is paid to the borrower […]
§ 2236a. Extent of assignment; service upon employer
§ 2236a. Extent of assignment; service upon employer Under any such assignment or order for the payment of future salary, wages, commissions, or other compensation for services given as security for a loan made by any licensee under this chapter, a sum not to exceed 10 percent of the borrower’s salary, wages, commissions, or other […]
§ 2238. Out-of-state commercial loans
§ 2238. Out-of-state commercial loans A commercial loan made to a borrower located outside Vermont for use outside Vermont shall be deemed to be made outside the State of Vermont and shall not be subject to this chapter except upon written agreement of the licensee and borrower. (Amended 2009, No. 29, § 1.)
§ 2239. Commercial leases
§ 2239. Commercial leases This chapter shall not apply to commercial leases as defined in 9 V.S.A. chapters 59 and 61. (Amended 2009, No. 29, § 1.)
§ 2241. Prohibited acts and practices
§ 2241. Prohibited acts and practices It is a violation of this chapter for a person or individual to: (1) directly or indirectly employ any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person; (2) engage in any unfair or deceptive practice toward any person; (3) obtain property […]
§ 2244. Unique identifier shown
§ 2244. Unique identifier shown (a) The unique identifier issued by the Nationwide Mortgage Licensing System and Registry of any person originating a residential mortgage loan shall be clearly shown on all residential mortgage loan application forms, solicitations, or advertisements, including business cards or websites, and any other documents as established by rule or order […]
§ 2245. Pension loans
§ 2245. Pension loans Any person who engages in the business of offering consideration in exchange for a secured interest in all or part of pension proceeds in the possession of a participant, beneficiary, or member of a pension plan, program, or system shall be deemed to be engaged in the business of making loans […]
§ 2225. Statement of rates of charge
§ 2225. Statement of rates of charge Rates of charge shall be stated fully and clearly in such manner as necessary to prevent misunderstanding thereof by prospective borrowers. (Amended 1995, No. 162 (Adj. Sess.), § 26, eff. Jan. 1, 1997; 2009, No. 29, § 1.)
§ 2227. Conduct of unrelated business
§ 2227. Conduct of unrelated business No licensee shall conduct the business of making noncommercial loans under this chapter within any office, room, or place of business in which any other business is solicited or engaged in, or in association or conjunction therewith, except as may be authorized in writing by the Commissioner upon his […]
§ 2229. Confessions of judgment; powers of attorney; contents of notes
§ 2229. Confessions of judgment; powers of attorney; contents of notes No licensee shall take any confession of judgment. No licensee shall take any power of attorney excepting such as may be incorporated in a form of note approved by the Commissioner for use in the financing of insurance premiums. No licensee shall take any […]