reglab/housing_qa huggingface dataset:
RI Gen L § 19-5-21 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-5 - Credit Unions|Section 19-5-21 - Destruction of records.

§ 19-5-21. Destruction of records.A credit union may, in accordance with rules and regulations that the director, or the director's designee, may adopt, destroy its records that have become obsolete.History of Section.P.L. 1995, ch. 82, § 43.
RI Gen L § 19-5-22 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-5 - Credit Unions|Section 19-5-22 - Tax on deposits.

§ 19-5-22. Tax on deposits.The capital stock, corporate franchises, and personal property, but not the real estate, of credit unions shall be exempt from taxation; provided, however, that every credit union shall annually pay to the general treasurer forty cents (40¢) on each one hundred dollars ($100) deposited with the credit union in the same manner as in financial institutions, the sums to be ascertained from a report to be made by the credit union to the director, or the director's designee, on or before the fifteenth day in July of each year, of the total amount of the deposits in the credit union on the last business day in June in that year, and to be paid on or before the first Monday in August.History of Section.P.L. 1995, ch. 82, § 43.
RI Gen L § 19-5-23 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-5 - Credit Unions|Section 19-5-23 - Conversion.

§ 19-5-23. Conversion.(a) A credit union may be converted into a federal credit union, and a federal credit union may be converted into a credit union, by complying with all the requirements of applicable federal and state law.(b) A federal credit union shall become a credit union when its agreement to form has been approved by the director, or the director's designee, under this chapter and when it has filed a copy of its agreement to form with the national credit union administration and complied with all other requirements of federal law.(c) A credit union shall become a federal credit union upon the granting of a federal credit union charter to it and the completion of all other requirements of federal law necessary to be completed to become an operating federal credit union, and upon the filing with the director, or the director's designee, a certified vote of the majority of the credit union members present at a meeting called, in accordance with the credit union's bylaws, for the purpose of considering a conversion to a federal charter. The converting credit union shall then file with the director, or the director's designee, a certified copy of the federal credit union charter and shall surrender its copy of its agreement to form, or file proof that the agreement to form has been lost.History of Section.P.L. 1995, ch. 82, § 43.
RI Gen L § 19-5-25 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-5 - Credit Unions|Section 19-5-25 - Exercise of same powers as federal credit unions.

§ 19-5-25. Exercise of same powers as federal credit unions.A credit union may engage in any activity authorized by law or regulation for federal credit unions that, in the opinion of the director, or the director's designee, is not unsafe and unsound for the credit union.History of Section.P.L. 1995, ch. 82, § 43.
RI Gen L § 19-5-26 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-5 - Credit Unions|Section 19-5-26 - Liquidity reserves.

§ 19-5-26. Liquidity reserves.Every credit union shall maintain liquidity reserves equal to an amount as determined in the credit union's liquidity and funds management policy as established and adopted by the board of directors of the credit union. Failure to adopt an adequate funds management policy shall be considered an unsafe and unsound practice.History of Section.P.L. 1995, ch. 82, § 43.
RI Gen L § 19-5-27 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-5 - Credit Unions|Section 19-5-27 - Interstate credit unions.

§ 19-5-27. Interstate credit unions.A credit union chartered in another state shall be permitted to do business in Rhode Island if credit unions may do business in the other state, under terms and conditions no more onerous than the laws of the state of Rhode Island, as determined by the director, or the director's designee. The standards for interstate activities shall be the same as those for financial institutions.History of Section.P.L. 1995, ch. 82, § 43.
RI Gen L § 19-5-28 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-5 - Credit Unions|Section 19-5-28 - Severability.

§ 19-5-28. 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 end the provisions of this chapter are declared to be severable.History of Section.P.L. 1995, ch. 82, § 43.
RI Gen L § 19-5-29 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-5 - Credit Unions|Section 19-5-29 - Savings promotion raffle.

§ 19-5-29. Savings promotion raffle.(a) If authorized by the credit union board of directors, a credit union registered to do business in the State of Rhode Island may conduct a savings promotion raffle, provided that it has given the department of business regulation prior written notice of its intent to conduct such a raffle. Said notice shall include an attestation that the raffle meets all requirements of all applicable laws and regulations including, but not limited to, the national credit union administration (NCUA) regulations and guidelines related to such contests; that the raffle will be administered in a manner that is fair and non-discriminatory to credit union members; and that there will be no adverse impact on the financial condition of the credit union as a result of the proposed savings promotion raffle. The credit union shall conduct a savings promotion raffle so that each token or ticket representing an entry in the raffle has an equal chance of being drawn. A credit union shall not conduct a savings promotion raffle in a manner that jeopardizes the credit union's safety and financial soundness or misleads its members.(b) Pursuant to his or her supervisory powers the director of the department of business regulation may examine the conduct of a savings promotion raffle at any time. The director may issue a cease and desist order for a violation of this section.(c) A credit union shall maintain records sufficient to facilitate an audit of a savings promotion raffle.(d) As used in this section, "savings promotion raffle" means a raffle conducted by a credit union where the sole consideration required for a chance of winning designated prizes is the deposit of at least a specified amount of money in a savings account or other savings program offered by the credit union.History of Section.P.L. 2010, ch. 222, § 1; P.L. 2011, ch. 59, § 1; P.L. 2011, ch. 71, § 1.
RI Gen L § 19-5.1-1 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-5.1 - Credit Union Conversion Act of 2001|Section 19-5.1-1 - Short title.

§ 19-5.1-1. Short title.This chapter shall be known and may be cited as "The Credit Union Conversion Act of 2001."History of Section.P.L. 2001, ch. 233, § 1.
RI Gen L § 19-5.1-2 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-5.1 - Credit Union Conversion Act of 2001|Section 19-5.1-2 - Definitions.

§ 19-5.1-2. Definitions.Terms used in this chapter shall have the same meaning as set forth in §§ 19-1-1 and 19-5-1, unless another meaning is expressed or is clearly apparent from the language or context.History of Section.P.L. 2001, ch. 233, § 1.
RI Gen L § 19-6-1 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-6 - Bank Holding Companies|Section 19-6-1 - Definitions.

§ 19-6-1. Definitions.For purposes of this chapter:(1) "Company", "control", and "subsidiary" have the meaning set forth in the Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq.(2) "Rhode Island bank-holding company" means any company, association, partnership, corporation, or any other entity, however formed, that controls a regulated institution.History of Section.P.L. 1995, ch. 82, § 44.
RI Gen L § 19-6-2 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-6 - Bank Holding Companies|Section 19-6-2 - Examination powers.

§ 19-6-2. Examination powers.Whenever the director, or the director's designee, considers it advisable, he or she may make, or cause to be made, an examination of each Rhode Island bank-holding company. The director, or the director's designee(s), may also examine any deposit-taking subsidiary of the bank-holding company that fails to meet its minimum capital requirements under applicable federal law, or has received from its principal bank regulator, as its last composite rating based on capital, asset quality, management, earnings, and liquidity (CAMEL) or similar regulatory rating, a three, four, five, or other unsatisfactory rating. The director, or the director's designee, shall have the same examination power and authority as he or she has for the examination of regulated institutions. The total cost of these examinations shall be paid in the same manner as other regulated institutions pursuant to this title. In lieu of this examination, the director, or the director's designee, shall accept the report of an examination made within the last fifteen (15) months by any federal bank regulatory agency or the equivalent supervisory official of another state, pursuant to the laws of that state.History of Section.P.L. 1995, ch. 82, § 44.
RI Gen L § 19-6-3 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-6 - Bank Holding Companies|Section 19-6-3 - Time and frequency of reports of Rhode Island bank-holding companies.

§ 19-6-3. Time and frequency of reports of Rhode Island bank-holding companies.(a) Every Rhode Island bank-holding company shall file an annual financial report with the director, or the director's designee, signed and sworn to by its president or a vice-president and also by its secretary, treasurer, or auditor, showing the condition of the Rhode Island bank-holding company at the close of business on any past day specified by the director, or the director's designee. The report shall be transmitted to the director, or the director's designee, within thirty (30) days of request, exclusive of Sundays and holidays. At the time of filing each report, the sum of fifty dollars ($50.00) shall be paid by the Rhode Island bank-holding company to the director to and for the use of the state. A penalty of twenty-five dollars ($25.00) per day for each day the report is delayed shall be paid to the director to and for the use of the state.(b) Copies of reports prepared for federal regulatory authorities may be filed in lieu of the above within the time frame required for federal reports, with the above fees.History of Section.P.L. 1995, ch. 82, § 44.
RI Gen L § 19-6-4 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-6 - Bank Holding Companies|Section 19-6-4 - Severability.

§ 19-6-4. 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 end the provisions of this chapter are declared to be severable.History of Section.P.L. 1995, ch. 82, § 44.
RI Gen L § 19-7-1 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-7 - Interstate Banking, Interstate Branching and Bank Holding Company Mergers and Acquisitions|Section 19-7-1 - Definitions.

§ 19-7-1. Definitions.(a) For the purposes of this chapter, the term or terms:(1) "Bank", "bank-holding company", "company", "subsidiary", and "control" have the meanings set forth in the federal Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq., except that "bank" shall also include financial institutions, as defined in this title, and other forms of federally-insured-deposit-taking institutions. Bank-holding companies shall include thrift-holding companies as set forth in the Home Owners' Loan Act, 12 U.S.C. § 1461 et seq., whether organized with or without capital stock.(2) "Out-of-state bank" means a bank whose principal office is located in any other state.(3) "Out-of-state bank-holding company" means a holding company for which the operations of its bank subsidiaries are principally conducted in any other state.(4) "Rhode Island bank-holding company" means a bank-holding company that controls a financial institution, provided that an out-of-state bank or bank-holding company that acquired control of one or more financial institutions shall not be deemed to be a Rhode Island bank-holding company, unless operations of its bank subsidiaries are principally conducted in this state.(b) For the purposes of this chapter, the state in which operations of a bank-holding company's bank subsidiaries are principally conducted is the state in which total deposits of all of its bank subsidiaries are the largest.History of Section.P.L. 1995, ch. 82, § 45; P.L. 2017, ch. 451, § 22.
RI Gen L § 19-7-2 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-7 - Interstate Banking, Interstate Branching and Bank Holding Company Mergers and Acquisitions|Section 19-7-2 - Acquisitions authorized.

§ 19-7-2. Acquisitions authorized.(a) An out-of-state bank or bank-holding company may acquire direct or indirect ownership or control of more than five percent (5%) of the voting stock of one or more financial institutions or Rhode Island bank-holding companies if the following conditions are met:(1) The laws of the state in which the out-of-state bank is located, or in which operations of the bank subsidiaries of an out-of-state bank-holding company are principally conducted, expressly authorize, under conditions no more restrictive than those imposed by the laws of Rhode Island, as determined by the director, or the director's designee, the acquisition by a Rhode Island bank-holding company or a financial institution of direct or indirect ownership or control of more than five percent (5%) of the voting stock of banks located in that state or bank-holding companies, the operations of the bank subsidiaries of which are principally conducted in that state;(2) The acquisition, including all of the terms and conditions of the acquisition, has been approved in advance by the director, or the director's designee, as being in the public interest, pursuant to a written order evidencing such approval. In determining whether the approval of a proposed acquisition by an out-of-state bank or bank-holding company is in the public interest, the director, or the director's designee, shall consider, in addition to any other factors he or she may in his or her discretion determine, whether the acquisition shall promote the safety and soundness of the financial institution whose voting stock is to be acquired and the convenience and advantage of communities served by that financial institution, and whether the acquisition is likely to have a significant impact upon the state's economy, employment levels, and tax base. Any financial institution or Rhode Island bank-holding company that is the subject of an acquisition under this section shall be a party to the proceedings of the director, or the director's designee, and shall be entitled to seek judicial review of any final decision of the director, or the director's designee. The procedures for notice and the conducting of hearings by the director, or the director's designee, and the rights of appeal from decisions of the director, or the director's designee, shall be governed by this title.(b) The provisions of subsection (a) shall apply to mergers, acquisitions, consolidations, or purchases of assets and assumptions of liabilities irrespective of whether the transactions under those sections involve an out-of-state bank or out-of-state bank-holding company.(c) The provisions of this section shall only apply after September 29, 1995, to the extent consistent with and not preempted by federal law.History of Section.P.L. 1995, ch. 82, § 45; P.L. 1997, ch. 98, § 6.
RI Gen L § 19-7-7 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-7 - Interstate Banking, Interstate Branching and Bank Holding Company Mergers and Acquisitions|Section 19-7-7 - Powers authorized.

§ 19-7-7. Powers authorized.If organized under laws other than the laws of this state, a successor bank or purchasing bank shall have and may exercise within this state the powers and privileges granted to financial institutions. A successor financial institution or purchasing financial institution shall have and may exercise in this state the powers and privileges granted to it under the laws of this state, and, in any state under the laws of which one or more of its predecessor banks was organized or in which it operates a branch, the powers and privileges granted to it under the laws of that state or states.History of Section.P.L. 1995, ch. 82, § 45.
RI Gen L § 19-7-8 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-7 - Interstate Banking, Interstate Branching and Bank Holding Company Mergers and Acquisitions|Section 19-7-8 - Special definitions applicable to mergers, etc.

§ 19-7-8. Special definitions applicable to mergers, etc.For purposes of this chapter:(1) The surviving or new bank resulting from a merger or consolidation, as the case may be, shall be called the "successor financial institution" or "successor bank", as applicable;(2) Each bank discontinuing its corporate existence pursuant to a merger or consolidation shall be called a "predecessor financial institution" or "predecessor bank", as applicable;(3) The bank purchasing assets and assuming liabilities and acquiring offices and branches under an agreement of purchase and assumption shall be called the "purchasing financial institution" or "purchasing bank", as applicable;(4) The bank selling assets and permitting its liabilities to be assumed and transferring branches and offices under an agreement shall be called the "selling financial institution" or "selling bank", as applicable;(5) References to "articles of incorporation" in chapter 1.2 of title 7 shall be deemed to refer to the agreement to form, charter, or the articles or agreement of association of each bank or financial institution involved, as from time to time amended, however it may be described by the law under which the institution is organized and whether or not it shall have been created by any special act of incorporation.History of Section.P.L. 1995, ch. 82, § 45; P.L. 2005, ch. 36, § 17; P.L. 2005, ch. 72, § 17.
RI Gen L § 19-7-9 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-7 - Interstate Banking, Interstate Branching and Bank Holding Company Mergers and Acquisitions|Section 19-7-9 - Interstate branches.

§ 19-7-9. Interstate branches.Upon obtaining the consent of the director, or the director's designee, a financial institution may establish a branch, or branches, outside of this state and an out-of-state bank may establish a branch, or branches, within this state; provided that, in the case of an out-of-state bank, the law of the state in which it is principally located authorizes under conditions not substantially more restrictive than those imposed by the laws of this state, as determined by the director, or the director's designee, a financial institution to establish a branch in that state. The director, or the director's designee, shall approve an application for a branch if the applicant has satisfied the standards and followed the procedures set forth for the establishment of branches for financial institutions in addition to the requirements of this section.History of Section.P.L. 1995, ch. 82, § 45.
RI Gen L § 19-7-10 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-7 - Interstate Banking, Interstate Branching and Bank Holding Company Mergers and Acquisitions|Section 19-7-10 - Federally chartered institutions.

§ 19-7-10. Federally chartered institutions.To the extent it is empowered to do so, this state authorizes banks organized under the laws of the United States that have a main office in Rhode Island to merge or consolidate with and to acquire assets and assume liabilities of out-of-state banks and to have assets and liabilities assumed by out-of-state banks.History of Section.P.L. 1995, ch. 82, § 45.
RI Gen L § 19-7-11 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-7 - Interstate Banking, Interstate Branching and Bank Holding Company Mergers and Acquisitions|Section 19-7-11 - Examination of mergers and acquisitions.

§ 19-7-11. Examination of mergers and acquisitions.The director, or the director's designee, may make or cause to be made an examination of each bank in order to fulfill the requirements of this chapter. The total cost of these examinations shall be borne by the bank so examined and shall be governed by the same terms and conditions as the examinations of regulated institutions. In lieu of this examination, the director, or the director's designee, may accept the report of an examination made by the equivalent supervisory official of another state, pursuant to the laws of that state.History of Section.P.L. 1995, ch. 82, § 45.
RI Gen L § 19-7-12 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-7 - Interstate Banking, Interstate Branching and Bank Holding Company Mergers and Acquisitions|Section 19-7-12 - Severability.

§ 19-7-12. 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 end the provisions of this chapter are declared to be severable.History of Section.P.L. 1995, ch. 82, § 45.
RI Gen L § 19-8-1 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-8 - Depository Change in Control Act|Section 19-8-1 - Definitions.

§ 19-8-1. Definitions.For the purposes of this chapter the terms:(1) "Control" shall have the meaning set forth in the Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq.(2) "Regulated institution" shall also include a Rhode Island bank-holding company.History of Section.P.L. 1995, ch. 82, § 46.
RI Gen L § 19-8-2 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-8 - Depository Change in Control Act|Section 19-8-2 - Application to director or the director's designee.

§ 19-8-2. Application to director or the director's designee.Any person who, acting directly or indirectly or through or in concert with one or more other persons, acquires control of any financial institution through purchase, assignment, transfer, pledge or other disposition of voting stock of a financial institution shall make application to the director, or the director's designee, in the prescribed manner.History of Section.P.L. 1995, ch. 82, § 46.
RI Gen L § 19-8-3 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-8 - Depository Change in Control Act|Section 19-8-3 - Review of application.

§ 19-8-3. Review of application.Upon receiving an application, the director, or the director's designee, shall:(1) Conduct an investigation of the competence, experience, integrity, and financial ability of each person by whom the acquisition is to be made; and(2) Make an independent determination of the accuracy and completeness of any information prescribed.History of Section.P.L. 1995, ch. 82, § 46.