reglab/housing_qa huggingface dataset:
8 V.S.A. § 2225
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 73 - Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies|§ 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.)
8 V.S.A. § 2227
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 73 - Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies|§ 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 or her finding that the character of such other business is such that the granting of such authority would not facilitate evasions of this chapter or of the rules and regulations lawfully made hereunder. (Amended 1995, No. 162 (Adj. Sess.), § 28, eff. Jan. 1, 1997; 2009, No. 29, § 1.)
8 V.S.A. § 2229
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 73 - Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies|§ 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 note, promise to pay, or security that does not accurately disclose the actual amount of the loan, the time for which it is made, and the agreed rate of interest, nor any instrument in which blank spaces are left to be filled in after execution. Notwithstanding the foregoing provisions of this section, the Commissioner may by rule exempt from all or part of this section commercial loans. (Amended 1987, No. 142 (Adj. Sess.), § 1, eff. April 11, 1988; 1989, No. 244 (Adj. Sess.), § 7; 2009, No. 29, § 1.)
8 V.S.A. § 2230
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 73 - Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies|§ 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 trailers, aircraft, watercraft and farm equipment may not exceed the rate permitted by 9 V.S.A. § 41a(b)(4).(b) Interest may be charged, contracted for, and received at the single annual percentage rate that would earn the same interest as the graduated rates when the loan is paid according to its agreed terms and the calculations are made according to the actuarial method. Interest shall not be paid, deducted, received, or added to principal in advance, except that the advance collection of interest for a period not to exceed 30 days shall be permitted upon the origination of a mortgage loan. Except for loans made pursuant to section 2216 of this title, the maximum interest permitted on loans made under this chapter shall be computed on the basis of the number of days actually elapsed. For the purpose of these computations, a year is any period of 365 consecutive days and 366 days during a leap year.(c) No licensee shall induce or permit any person jointly or severally to become obligated, directly or contingently or both, under more than one contract of loan made under this section at the same time, for the purpose of obtaining a higher rate of interest than would otherwise be permitted by law.(d) This section shall not apply to commercial loans. (Amended 1969, No. 243 (Adj. Sess.), § 3; 1979, No. 173 (Adj. Sess.), § 6, eff. April 30, 1980; 1981, No. 26, § 1; 1981, No. 89, § 5, eff. May 13, 1981; 1983, No. 35,§§ 5, 9; 1995, No. 162 (Adj. Sess.), § 30, eff. Jan. 1, 1997; 2009, No. 29, § 1.)
8 V.S.A. § 2231
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 73 - Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies|§ 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 consecutive monthly installments of principal and interest combined.(b) In addition to the interest and charges herein provided for no further or other charge or amount for any examination, service, brokerage, commission, expense, fee, bonus, or other thing or otherwise shall be directly or indirectly charged, contracted for, or received except filing, recording, releasing, or termination fees paid or to be paid to a public officer; the premium or identifiable charge for credit life or disability insurance obtained, provided, or sold by the licensee subject to the provisions of sections 4101-4115 or sections 3805 and 3806 of this title and any gain or advantage to the licensee from such shall not be deemed in violation of this chapter nor an additional charge in violation of this section or section 2230 of this title. For loans subject to this subsection, if any interest, consideration, or charges in excess of those permitted by this subsection, except as the result of an accidental or bona fide error are charged, contracted for, or received, the contract of loan shall be void and the licensee shall have no right to collect or receive any principal, interest, or charges whatsoever.(c) This section shall not apply to commercial loans.(d) The provisions of subsection (b) of this section shall not apply to mortgage loans. (Amended 1969, No. 243 (Adj. Sess.), § 4; 1979, No. 173 (Adj. Sess.), § 7, eff. April 30, 1980; 1981, No. 26, § 2; 1981, No. 89, § 6, eff. May 13, 1981; 1983, No. 35, §§ 6, 9; 1995, No. 162 (Adj. Sess.), § 31, eff. Jan. 1, 1997; 1997, No. 98 (Adj. Sess.), §§ 4, 5, eff. April 16, 1998; 2009, No. 29, § 1.)
8 V.S.A. § 2232a
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 73 - Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies|§ 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 of the borrower and of the licensee, and the agreed rate of charge.(b) Each licensed lender shall, in advance of any loan closing, deliver to each prospective borrower, based on the type of loan applied for, a full and accurate schedule of the charges to be made and the method of computing the same.(c) Each licensed lender or holder shall give to the borrower a plain and complete statement of all payments made on account of any such loan specifying the amount applied to finance charges and the amount, if any, applied to principal, and stating the unpaid principal balance, if any, of such loan. When payment is made, a licensee shall provide the borrower with a statement therefor within 30 days after the payment is received, or shall provide, on an annual basis, statements setting forth the information required herein. Each licensed lender or holder shall provide a transaction history of the loan to the borrower upon request.(d) Each licensed lender or holder shall permit payment to be made in advance without prepayment premium or penalty in any amount on any contract of loan at any time, but the licensee or holder may apply such payment first to all finance charges in full at the agreed rate up to the date of such payment.(e) Each licensed lender or holder shall, upon repayment of the loan in full, promptly mark indelibly every obligation and security signed by the borrower with the word "Paid" or "Canceled," and within 30 days release any mortgage, restore any pledge, cancel and return any note, record or file any necessary release or discharge, cancel and return any assignment given to the licensee by the borrower, and refund to the borrower, in accordance with rules adopted by the Commissioner any unearned portion of the premium for credit life or disability insurance if a premium for such insurance was disbursed on behalf of the borrower at the time the loan was originally made. The provisions of this subsection shall not affect the right of action created by 27 V.S.A. § 464.(f) This section shall not apply to commercial loans. (Amended 1979, No. 173 (Adj. Sess.), § 8, eff. April 30, 1980; 1981, No. 26, § 3; 1981, No. 89, § 7, eff. May 13, 1981; 1983, No. 35, §§ 7-9; 1995, No. 162 (Adj. Sess.), § 32, eff. Jan. 1, 1997; 2009, No. 29, § 1; 2015, No. 97 (Adj. Sess.), § 9.)
8 V.S.A. § 2233
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 73 - Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies|§ 2233. Charges; loan solicitation; specialized financing

§ 2233. Charges; loan solicitation; specialized financing|(a) Other than a mortgage broker fee pursuant to section 2219 of this title, no person who is required to be licensed under this chapter, shall directly or indirectly charge, contract for, or receive any interest, discount, consideration, or charge greater than is authorized by 9 V.S.A. § 41a or 46. No such loan for which a greater rate of interest, finance charge, consideration, or charges than is authorized by  9 V.S.A. § 41a or 46 has been charged, contracted for, or received shall be enforced in this State, and every person in any way participating therein in this State shall be subject to the provisions of this chapter. However, any loan legally made in any state which then had in effect a regulatory loan law similar in principle to this chapter may be enforced in this State only to the extent of collecting the principal amount owed and interest thereon at a rate not greater than that authorized by  9 V.S.A. § 41a or 46.(b) A loan solicited or made by mail, telephone, or electronic means to a Vermont resident shall be subject to the provisions of this chapter notwithstanding where the loan was legally made. No person shall engage in the business of soliciting or making loans by mail, telephone, or electronic means to residents of this State unless duly licensed. Such licensee shall be subject to the applicable provisions of this title and  9 V.S.A. chapters 4, 59, and 61, but shall not be required to have or maintain a place of business in the State.(c) No person other than a depository institution, pawnbroker, insurance company, or seller of merchandise or services shall engage in specialized financing, including tuition plans or other such financing, but not including insurance premium financing, for residents of this State unless duly licensed. Such licensee shall be subject to the applicable provisions of this title and 9 V.S.A. chapters 4, 59, and 61, but shall not be required to maintain a place of business in this State. Such financing may include more than one loan per borrower. A license granted to such lenders shall be explicit in its authority with respect to the types of business permitted. (Amended 1969, No. 243 (Adj. Sess.), § 7; 1975, No. 76; 1979, No. 173 (Adj. Sess.), § 10, eff. April 30, 1980; 1983, No. 77, § 2; 1995, No. 162 (Adj. Sess.), § 33, eff. Jan. 1, 1997; 2009, No. 29, § 1.)
8 V.S.A. § 2234
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 73 - Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies|§ 2234. Assignment of wages

§ 2234. Assignment of wages|The payment in money, credit, goods, or things in action, as consideration for any sale or assignment of, or order for, the payment of wages, salary, commissions, or other compensation for services, whether earned or to be earned, for the purpose of regulation under this chapter, shall be deemed a loan secured by such assignment. The amount by which such assigned compensation exceeds the amount of such consideration actually paid, for the purposes of regulation under this chapter, shall be deemed finance charges or charges upon such loan from the date of such payment to the date such compensation is payable. Such transactions shall be governed by and subject to applicable provisions of this title and 9 V.S.A. chapters 4, 59, and 61. (Amended 1969, No. 243 (Adj. Sess.), § 6; 1979, No. 173 (Adj. Sess.), § 9, eff. April 30, 1980; 1995, No. 162 (Adj. Sess.), § 34, eff. Jan. 1, 1997; 2009, No. 29, § 1.)
8 V.S.A. § 2235
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 73 - Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies|§ 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 simultaneously with its execution. Such assignment or order, or any chattel mortgage or other lien on household furniture then in the possession and use of the borrower, shall not be valid unless it is in writing, signed in person by the borrower, nor shall it be valid if the borrower is married unless it is signed in person by both husband and wife. However, written assent of a spouse shall not be required if the borrower has title as a result of a court order. (Amended 1995, No. 162 (Adj. Sess.), § 35, eff. Jan. 1, 1997; 2009, No. 29, § 1.)
8 V.S.A. § 2236a
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 73 - Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies|§ 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 compensation for services shall be collectible from the employer of the borrower by the licensee at the time of each payment to the borrower of such salary, wages, commissions, or other compensation for services, from the time that a copy of such assignment, verified by the oath of the licensee or the licensee's agent, together with a similarly verified statement of the amount unpaid upon such loan, is served upon the employer. (Amended 2009, No. 29, § 1.)
8 V.S.A. § 2238
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 73 - Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies|§ 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.)
8 V.S.A. § 2239
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 73 - Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies|§ 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.)
8 V.S.A. § 2244
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 73 - Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies|§ 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 of the Commissioner.(b) The unique identifier issued by the Nationwide Mortgage Licensing System and Registry of any person engaging in the business of lending or acting as a mortgage broker, sales finance company, or loan solicitation licensee shall be clearly shown on all loan application forms, solicitations, or advertisements, including business cards and websites, and any other documents as established by rule or order of the Commissioner. (Added 2009, No. 29, § 1; amended 2013, No. 29, § 7, eff. May 13, 2013; 2017, No. 22, § 29, eff. May 4, 2017.)
8 V.S.A. § 2245
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 73 - Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies|§ 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 pursuant to subdivision 2201(a)(1) of this chapter and shall be subject to 9 V.S.A. chapters 4 and 63. (Added 2013, No. 109 (Adj. Sess.), § 2.)
8 V.S.A. § 2251
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 74 - Consumer Litigation Funding Companies|§ 2251. Definitions

§ 2251. Definitions|As used in this chapter:  (1) "Charges" means the amount a consumer owes to a company in addition to the funded amount and includes an administrative fee, origination fee, underwriting fee, processing fee, and any other fee regardless of how the fee is denominated, including amounts denominated as interest or rate. (2) "Consumer" means a natural person who is seeking or has obtained consumer litigation funding for a pending legal claim, provided:  (A) the claim is in Vermont; or (B) the person resides or is domiciled in Vermont, or both.  (3) "Consumer litigation funding" or "funding" means a nonrecourse transaction in which a company purchases and a consumer assigns to the company a contingent right to receive an amount of the potential net proceeds of a settlement or judgment obtained from the consumer's legal claim. If no proceeds or net proceeds are obtained, the consumer is not required to repay the company the funded amount or charges. (4) "Consumer litigation funding company," "litigation funding company," or "company" means a person that provides consumer litigation funding to a consumer. The term does not include an immediate family member of the consumer. (5) "Funded amount" means the amount of monies provided to, or on behalf of, the consumer pursuant to a litigation funding contract. The term excludes charges. (6) "Health care facility" has the same meaning as in 18 V.S.A. § 9402(6). (7) "Health care provider" has the same meaning as in 18 V.S.A. § 9402(7). (8) "Litigation funding contract" or "contract" means a contract between a company and a consumer for the provision of consumer litigation funding. (9)(A) "Net proceeds" means the amount recovered by a consumer as a result of a legal claim less costs associated with the legal claim or the underlying events giving rise to the legal claim, including:   (i) attorney's fees, attorney liens, litigation costs; (ii) claims or liens for related medical services owned and asserted by the provider of such services; (iii) claims or liens for reimbursement arising from third parties who have paid related medical expenses, including claims from insurers, employers with self-funded health care plans, and publicly financed health care plans; and (iv) liens for workers' compensation benefits paid to the consumer.  (B) This definition of "net proceeds" shall in no way affect the priority of claims or liens other than those for payments to the consumer litigation funding company under a consumer litigation funding contract subject to this chapter. (Added 2015, No. 128 (Adj. Sess.), § A.1; amended 2019, No. 20, § 33.)
8 V.S.A. § 2252
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 74 - Consumer Litigation Funding Companies|§ 2252. Registration; financial stability

§ 2252. Registration; financial stability|(a) A company shall not engage in the business of consumer litigation funding without first filing a registration with the Commissioner on a form prescribed by the Commissioner and submitting a registration fee and proof of financial stability.(b) A company shall file with the Commissioner evidence of its financial stability which shall include proof of a surety bond or irrevocable letter of credit issued and confirmed by a financial institution authorized by law to transact business in Vermont that is equal to double the amount of the company's largest funded amount in Vermont in the prior three calendar years or $50,000.00, whichever is greater. (Added 2015, No. 128 (Adj. Sess.), § A.1; amended 2017, No. 22, § 1, eff. May 4, 2017; 2019, No. 20, § 34.)