§ 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 […]
§ 2230. Rate of interest
§ 2230. Rate of interest (a) Every licensee may charge, contract for, and receive thereon interest, calculated according to the actuarial method as set forth in 9 V.S.A. § 41a(d), not exceeding the rates permitted by 9 V.S.A. chapter 4, except that the rate of interest on loans secured by motor vehicles, mobile homes, travel […]
§ 2231. Contracts to be repayable in monthly installments; maximum term; additional charges prohibited; invalidity of loan contract
§ 2231. Contracts to be repayable in monthly installments; maximum term; additional charges prohibited; invalidity of loan contract (a) Except for loans made pursuant to section 2216 of this title and in compliance with applicable regulations of the Commissioner, all loan contracts made under the provisions of this chapter shall require repayment in substantially equal […]
§ 2232a. Requirements regarding the borrower
§ 2232a. Requirements regarding the borrower (a) Each licensed lender shall deliver to the borrower at the time any loan is made a statement showing in clear and distinct terms the amount and date of the loan and of its maturity, the nature of the security, if any, for the loan, the name and address […]