reglab/housing_qa huggingface dataset:
5 DE Code § 2228. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter III. Closed End Credit|§ 2228. Extension of credit.

§ 2228. Extension of credit. (a) Any licensee may, subject to any limitations on lending authority contained in its charter or otherwise imposed by law and subject to the other provisions of this subchapter, offer and extend closed end credit to a borrower and, in connection therewith, may charge and collect the interest and other charges permitted by this subchapter and may take such security as collateral in connection therewith as may be acceptable to the licensee. Loans to any 1 borrower may not exceed 20% of the paid-in capital stock and surplus of such lender. (b) All licensees will maintain records or other comparable evidence of their activity taken to reach a decision on a loan. If a commitment between a licensee and an applicant is not met (regardless of whether a similar loan at a higher rate is closed or not) and the delay is the licensee's fault, or the licensee cannot demonstrate through its records or other comparable evidence that it took reasonably diligent steps to meet its deadline, such action or inaction taken by the licensee may be deemed to be an unsafe and unsound operating practice. In such a case, the Commissioner shall take appropriate action which may include, but is not limited to, an order to refund certain fees paid by the applicant to the licensee. 66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 105, §  24;
5 DE Code § 2229. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter III. Closed End Credit|§ 2229. Interest.

§ 2229. Interest. A licensee may charge and collect interest in respect of a loan at such daily, weekly, monthly, annual or other periodic percentage rate or rates as the agreement governing the loan provides or as established in the manner provided in such agreement and may calculate such interest by way of simple interest or such other method as the agreement governing the loan provides. If the interest is precomputed it may be calculated on the assumption that all scheduled payments will be made when due. For purposes hereof, a year may but need not be a calendar year and may be such period of from 360 to 366 days, including or disregarding leap year, as the licensee may determine. 66 Del. Laws, c. 22, §  1;
5 DE Code § 2230. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter III. Closed End Credit|§ 2230. Variable rates.

§ 2230. Variable rates. If the agreement governing the loan so provides, the periodic percentage rate or rates of interest charged and collected in respect of the loan may, if the interest is not precomputed and taken in advance, vary in accordance with a schedule or formula. Such periodic percentage rate or rates may vary from time to time as the rate determined in accordance with such schedule or formula varies and such periodic percentage rate or rates, as so varied, may be made applicable to all or any part of outstanding unpaid amounts of such loan on and after the effective date of such variation. This section shall not be construed to limit the authority of a licensee to charge and collect interest in respect of a loan in the manner and at the rate or rates authorized in any other section of this subchapter. Without limitation, a permissible schedule or formula hereunder may include provisions in the agreement governing the loan for a change in the periodic percentage rate or rates of interest applicable to all or any part of outstanding unpaid amounts whether by variation of the then applicable periodic percentage rate or rates of interest, variation of an index or margin or otherwise, contingent upon the happening of any event or circumstance specified in the loan agreement, which event or circumstance may include the failure of the borrower to perform in accordance with the terms of the loan agreement. 66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 303, §  41;
5 DE Code § 2231. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter III. Closed End Credit|§ 2231. Additional charges.

§ 2231. Additional charges. In addition to or in lieu of interest at a periodic percentage rate or rates permitted by §§ 2229 and 2230 of this title, the licensee may charge and collect, in respect of a loan:  (1) Reasonable fees for services rendered or for reimbursement of expenses incurred in good faith by the licensee or its agents in connection with such loan, including, without limitation, commitment fees, official fees and taxes, premiums or other charges for any guarantee or insurance protecting the licensee against the borrower's default or other credit loss, or costs incurred by reason of examination of title, inspection, recording and other formal acts necessary or appropriate to the security of the loan, filing fees, attorney's fees and travel expenses; (2) If the agreement governing a loan so provides, a licensee may impose, as interest, a late or delinquency charge upon any outstanding unpaid installment payments or portions thereof under the loan agreement which are in default; provided, however, that no more than 1 such delinquency charge may be imposed in respect of any single such installment payment or portion thereof regardless of the period during which it remains in default; and provided further that no such delinquency charge may exceed 5% of the amount of any such installment or portion thereof in default. Nothing contained in this subdivision shall limit, restrict or otherwise affect the right of a licensee under and pursuant to § 2230 of this title to change the periodic percentage rate or rates of interest applicable to the loan agreement between the licensee and a borrower upon the occurrence of a delinquency or default or other failure of the borrower to perform in accordance with the terms of the loan agreement; (3) Such other charges as the Commissioner shall include in an itemized schedule of the maximum amounts which may be charged to an applicant for a loan for costs, fees, services, points, premiums and all other reasonable expenses which may be incurred by such applicant in connection with a loan. The maximum amounts permitted by said schedule may vary with the amount of the loan and shall bear a reasonable relationship to such loan, the services required and the complexity of the transaction. No licensee shall demand, collect or receive from any applicant for a loan, directly or indirectly, any other charges, or any greater amounts for any authorized charges than those permitted by said schedule or this subchapter. Every licensee shall furnish to every applicant for a loan a copy of said schedule at the time when such application is made.66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 303, §  42;  70 Del. Laws, c. 327, §  46;
5 DE Code § 2232. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter III. Closed End Credit|§ 2232. Deferred installments.

§ 2232. Deferred installments. A licensee may at any time or from time to time permit a borrower to defer installment payments of a loan and may, in connection with such deferral, charge and collect deferral charges and may also require payment by such borrower of the additional cost to the licensee of premiums for continuing in force, until the end of such period of deferral, any insurance coverage provided in connection with the loan pursuant to § 2231 of this title. 66 Del. Laws, c. 22, §  1;
5 DE Code § 2233. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter III. Closed End Credit|§ 2233. Insurance.

§ 2233. Insurance. (a) A licensee may request but not require a borrower to be insured in respect of a loan under a life, health, accident, health and accident or other permissible insurance policy, whether group or individual, and in the event that a loan to a borrower is secured by an interest in real or personal property, the licensee may require the borrower to obtain insurance, from an insurer acceptable to the licensee, against loss of or damage to such property or against the liability arising out of the ownership or use of the property and may finance the premiums for such insurance. (b) The offer and placement of insurance under this section shall be subject in all respects to the applicable provisions of Title 18. 66 Del. Laws, c. 22, §  1;
5 DE Code § 2235. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter III. Closed End Credit|§ 2235. Refinancing.

§ 2235. Refinancing. (a) A borrower may, with the consent of the licensee, refinance the entire outstanding and unpaid amount of a loan, and the licensee may charge and collect a refinancing charge in connection with any such refinancing. (b) For the purposes of this section, the entire outstanding and unpaid amount of a loan shall be deemed to be:  (1) If the interest and charges in respect of the loan were not taken in advance, the total of the unpaid balance and the accrued and unpaid interest and charges on the date of refinancing; or (2) If the interest and charges on the loan were precomputed and taken in advance, the amount which the borrower would have been required to pay upon the prepayment on the date of refinancing pursuant to § 2234 of this title governing refund upon prepayment.66 Del. Laws, c. 22, §  1;
5 DE Code § 2235C. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter III. Closed End Credit|§ 2235C. Report by Commissioner.

§ 2235C. Report by Commissioner. (a) The Commissioner shall collect and submit the following information to the Banking Committee of the Senate and the Economic Development/Banking/Insurance/Commerce Committee of the House of Representatives on or before March 15 of each year:  (1) The total number and dollar amount of short-term consumer loan transactions; (2) The total number of individual borrowers who entered into short-term consumer loan transactions along with their gross monthly income; (3) The minimum, maximum, and average amount of short-term consumer loan transactions; (4) The minimum, maximum, and average annual percentage rate of short-term consumer loans; (5) The average number of days a short-term consumer loan is outstanding; (6) The number of borrowers entering into each permissible number of short-term consumer loans, 1 transaction to 5 transactions; (7) The default rate on short-term consumer loans; (8) Any other information that the commissioner believes is relevant or useful; and (9) Any other information requested by the banking committees at least 60 days before the Commissioner's report is due. (b) The Commissioner shall require the database operator and licensees to submit any and all information necessary for the Commissioner to prepare the report referenced in subsection (a) of this section. 78 Del. Laws, c. 278, §  4;  70 Del. Laws, c. 186, §  1;
5 DE Code § 2236. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter III. Closed End Credit|§ 2236. Attorneys' fees; costs.

§ 2236. Attorneys' fees; costs. In the event a borrower defaults under the terms of a loan, the licensee may, if the borrower's account is referred to an attorney (not a regularly salaried employee of the licensee) or to a third party for collection and if the agreement governing, or the bond, note or other evidence of, the loan so provides, charge and collect from the borrower a reasonable attorneys' fee. In addition, following a borrower's default, the licensee may, if the agreement governing, or the bond, note or other evidence of, the loan so provides, recover from the borrower all court, alternative dispute resolution or other collection costs (including, without limitation, fees and charges of collection agencies) actually incurred by the licensee. 66 Del. Laws, c. 22, §  1;  72 Del. Laws, c. 15, §  36;
5 DE Code § 2237. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter III. Closed End Credit|§ 2237. Application of other State laws.

§ 2237. Application of other State laws. Any other law of this State limiting the rate or amount of interest, discount, points, finance charges, service charges or other charges which may be charged, taken, collected, received or reserved shall not apply to extensions of credit made in accordance with this subchapter. 66 Del. Laws, c. 22, §  1;
5 DE Code § 2238. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter III. Closed End Credit|§ 2238. Nonexclusivity; captions.

§ 2238. Nonexclusivity; captions. (a) The provisions of this subchapter are not exclusive and a licensee may at its option elect to extend credit either pursuant to this subchapter or as otherwise permitted by applicable law. (b) Section headings and captions contained in this subchapter are inserted only as a matter of convenience and for reference and do not and shall not be construed to define, limit, extend or describe the scope of this subchapter or the meaning or intent of any section hereof. 66 Del. Laws, c. 22, §  1;
5 DE Code § 2239. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter IV. Prohibitions and Penalties|§ 2239. Penalty for failure to give copy of obligation to borrower.

§ 2239. Penalty for failure to give copy of obligation to borrower. Every lender shall give to the borrower, on request, a correct copy of the obligation evidencing the loan, and on failure or refusal on such request to furnish the borrower with such copy shall be fined, for each offense, not less than $20 nor more than $100, or imprisoned for not more than 1 month, or both. 66 Del. Laws, c. 22, §  1;
5 DE Code § 2240. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter IV. Prohibitions and Penalties|§ 2240. Penalty for making loans without license; exception.

§ 2240. Penalty for making loans without license; exception. (a) Loans as authorized by this chapter shall not be made unless a license of registration has first been obtained from the State Bank Commissioner. Whoever violates this subsection shall be fined not less than $50 nor more than $200 for each offense, or imprisoned not more than 3 months, or both. (b) Subsection (a) of this section shall not apply to any person transacting the business of lending money in accordance with the provisions of § 2202 of this title. 66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 105, §  25;
5 DE Code § 2241. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter IV. Prohibitions and Penalties|§ 2241. Responsibility of agents.

§ 2241. Responsibility of agents. For every violation of this chapter by any association, firm, partnership, trustee system or combination of persons not incorporated, or by any corporation, any member of the association, firm, partnership, trustee system or combination of persons not incorporated, and the president, secretary or treasurer, or any person acting as agent of the association, firm, partnership, trustee system or combination of persons not incorporated, or corporation, may be proceeded against as a principal, and if found guilty of violating this chapter, shall be punished as provided in this chapter. 66 Del. Laws, c. 22, §  1;
5 DE Code § 2242. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter IV. Prohibitions and Penalties|§ 2242. Salary orders, warrants or assignments as security for loans, confessions of judgment, acceleration; penalties for violations.

§ 2242. Salary orders, warrants or assignments as security for loans, confessions of judgment, acceleration; penalties for violations. (a) No order, warrant or claim of any kind, from any employee upon his or her employer, for any salary or part thereof due or to become due to such employee from such employer, shall be taken, accepted or agreed to be taken or accepted, as security for money loaned or to be loaned. (b) No loan shall be declared due and payable unless the borrower shall be in default of an expressed term or condition of the instrument. (c) Whoever violates this section shall be fined not less than $100 nor more than $500, or imprisoned not more than 6 months, or both. 66 Del. Laws, c. 22, §  1;  70 Del. Laws, c. 186, §  1;
5 DE Code § 2243. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter IV. Prohibitions and Penalties|§ 2243. False or misleading advertising prohibited.

§ 2243. False or misleading advertising prohibited. It shall be unlawful for any person to cause to be placed before the public in this State, directly or indirectly, any false or misleading advertising matter pertaining to loans under this chapter or the availability thereof; provided, however, that this section shall not apply to the owner, publisher, operator or employees of any publication or radio or television station which disseminates such advertising matter without knowledge of the false or misleading character thereof. 66 Del. Laws, c. 22, §  1;
5 DE Code § 2244. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter IV. Prohibitions and Penalties|§ 2244. Reverse mortgages.

§ 2244. Reverse mortgages. (a) For purposes of this section, unless the context requires otherwise:  (1) “Independent housing counselor” means a housing counseling agency approved by the United States Department of Housing and Urban Development, or any government agency or nonprofit organization that is not affiliated with either the reverse mortgage lender or any other person receiving a fee from the transaction and provides mortgage loan counseling to the public of this State regarding the advisability of entering into a reverse mortgage transaction. (2) “Reverse mortgage loan” means a mortgage loan, as defined by § 2101(4) of this title, the proceeds of which are disbursed to the mortgagor in 1 or more lump sums, or in equal or unequal installments, either directly by the lender or the lender's agent, and which requires no repayment until a future time, upon the earliest occurrence of 1 or more events specified in the reverse mortgage loan contract. (b) A licensee shall not finalize a reverse mortgage loan until it has received a written certification from an independent housing counselor attesting that the prospective borrower has received counseling on reverse mortgage loans that includes the information specified in 12 U.S.C. § 1715z-20(f) and such other information as the Commissioner may designate by regulation. 76 Del. Laws, c. 335, §  2;
5 DE Code § 2245. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter IV. Prohibitions and Penalties|§ 2245. Mortgage loan modification services; compensation.

§ 2245. Mortgage loan modification services; compensation. (a) As used in this section, unless the context requires otherwise, “mortgage loan” has the meaning set forth in § 2101 of this title. (b) As used in this section, unless the context requires otherwise, “mortgage loan modification services” means services as an intermediary between an individual and 1 or more mortgage loan creditors for the purpose of obtaining:  (1) Assent to the repayment of a mortgage loan on terms more favorable to the individual than the terms of the original mortgage loan; or (2) An arrangement to delay, prevent, remedy, eliminate or discharge any default on the terms of a mortgage loan, or the sale of any property incident to a foreclosure or other judicial proceeding based on a mortgage loan. (c) A licensee may not receive any compensation for mortgage loan modification services prior to the execution of a written contract that describes in detail all such services that the licensee will perform and all compensation that the licensee will receive for those services. Any compensation received by a licensee in advance of the completion of all such services may not exceed $250. (d) The total compensation that a licensee receives for mortgage loan modification services must be limited to an amount that is customary and reasonable for those services in this State. 77 Del. Laws, c. 138, §  2;
5 DE Code § 2250. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter V. Title Loans|§ 2250. Definitions.

§ 2250. Definitions. As used in this subchapter:  (1) “Business day” means all calendar days except Saturdays, Sundays and legal holidays (as that term is defined in Chapter 5 of Title 1). (2) “Conspicuous” has the meaning set forth in § 1-201 of Title 6. (3) “Rollover” means the extension of an outstanding and unpaid indebtedness beyond the originally stated repayment period. (4) “Title loan” means a loan made to one or more natural persons by a licensee and secured by the title to a motor vehicle, which loan is not used for the purpose of purchasing the vehicle that is used as security and which loan has an originally stated repayment period of 180 days or less. (5) “Workout agreement” means an agreement for repayment of the outstanding and unpaid indebtedness on a title loan.77 Del. Laws, c. 164, §  1;
5 DE Code § 2251. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter V. Title Loans|§ 2251. Deceptive advertising prohibited.

§ 2251. Deceptive advertising prohibited. No licensee shall advertise, market the availability of, or otherwise seek to induce any natural person to apply for, or enter into an obligation concerning, a title loan in any manner that violates either subchapter II (Consumer Fraud) or subchapter III (Deceptive Trade Practices) of Chapter 25 of Title 6. Further, no licensee shall advertise a title loan interest rate that is lower for an initial period, if that interest rate increases during any rollover. 77 Del. Laws, c. 164, §  1;
5 DE Code § 2252. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter V. Title Loans|§ 2252. Disclosures.

§ 2252. Disclosures. No licensee shall make a title loan without providing to the borrower, before the borrower signs the loan agreement, all of the following written disclosures in a conspicuous format:  (1) “The loan you are considering entering into is strictly for short-term cash, and is not a solution for long-term financial problems.” (2) “You, as borrower, are not compelled to complete the loan agreement merely because you have received any disclosures.” (3) “If you sign the title loan agreement, the title loan lender will obtain a security interest in your motor vehicle, and if you fail to meet the obligations of the title loan agreement, the lender can take possession of your motor vehicle and sell it.” (4) “If the lender takes possession of your motor vehicle, you may lose equity in that vehicle.” (5) “You have a right to rescind the title loan agreement for any reason, at no cost to you, at any time up to the end of the business day following the day in which the loan proceeds of the title loan were disbursed to you by returning the full amount of the loan proceeds to the title lender.” (6) “You have the right to receive information about credit counseling services from the Office of the State Bank Commissioner.” (7) “You may file a complaint with the Office of the State Bank Commissioner if you believe your lender has violated any law regarding your title loan.”77 Del. Laws, c. 164, §  1;