reglab/statecodes huggingface dataset:
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-20. - Criminal prosecution.

§ 19-28.1-20. Criminal prosecution.
(a)
The director may refer any evidence that is available concerning any violation of this act or any rule or order made under this act to the attorney general who may, with or without this reference, institute appropriate criminal proceedings under the act.
(b)
A person who willfully violates any provision of this act, or any rule under this act, or any order of which the person has notice, commits a felony and upon conviction is subject to the punishment provided by law.
(c)
A prosecution for a violation under this act must be commenced within four (4) years after the commission of the violation. Nothing in this act limits the power of the state to punish a person for conduct that constitutes a crime under another statute.
History of Section.
P.L. 1993, ch. 395, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-21. - Private civil actions.

§ 19-28.1-21. Private civil actions.
(a)
A person who violates any provision of this act is liable to the franchisee for damages, costs, and attorneys and experts fees. In the case of a violation of § 19-28.1-5, § 19-28.1-8, or § 19-28.1-17(1) — (5), the franchisee may also sue for rescission. No person shall be liable under this section if the defendant proves that the plaintiff knew the facts concerning the violation.
(b)
Every person who directly or indirectly controls a person liable under this section, every principal executive officer or director of the liable person, every person occupying a similar status or performing similar functions, and every agent or employee of a liable person, who materially aids in the act or transaction constituting the violation, is also liable jointly and severally with and to the same extent as the person liable under this section, unless the agent, employee, officer, or director proves he or she did not know, and in the exercise of reasonable care could not have known, of the existence of the fact by reason of which the liability is alleged to exist.
History of Section.
P.L. 1993, ch. 395, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-22. - Period of limitation.

§ 19-28.1-22. Period of limitation.
An action under § 19-28.1-21 must be commenced not later than the earlier of:
(1)
Four (4) years after the act or transaction constituting the violation; or
(2)
Ninety (90) days after the receipt by the franchisee of a rescission offer in a form approved by the director.
History of Section.
P.L. 1993, ch. 395, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-23. - No other civil liability.

§ 19-28.1-23. No other civil liability.
Except as expressly provided in this act, no civil liability arises from a violation or any provision of this act. Nothing in the act limits liability that may exist under another statute or at common law. Prior law governs all actions based on facts occurring before July 22, 1993.
History of Section.
P.L. 1993, ch. 395, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-24. - Burden of proof.

§ 19-28.1-24. Burden of proof.
In an administrative, civil, or criminal proceeding arising under this act, the burden of proving an exemption, or an exclusion from a definition, is on the person claiming it.
History of Section.
P.L. 1993, ch. 395, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-25. - Hearings and judicial review.

§ 19-28.1-25. Hearings and judicial review.
(a)
Except as provided by subsection (c), the director may not enter an order under § 19-28.1-18 or § 19-28.1-19 without appropriate prior notice to all named persons, opportunity for hearing and written findings of fact and conclusion of law.
(b)
Notice required by this act is sufficient if delivered personally, or if sent by registered or certified mail and addressed to the person, or the person’s attorney of record at the person’s or attorney’s last known address appearing in the records of the director. Notice served in accordance with § 19-28.1-28 is also sufficient.
(c)
A person named in an order may apply to the director for a hearing in respect to any matter determined by the order within 30 days after the director has summarily issued an order. A hearing shall be held within thirty (30) days after the director receives a written request for a hearing unless extended by mutual consent of the parties. During the pendency of any hearing requested under this subsection, the order issued summarily shall remain in effect unless vacated or modified by the director.
(d)
After a hearing, the director may issue a final order. The final order may affirm, vacate or modify an order issued summarily in effect during the pendency of the hearing, or may include such other sanctions as are provided for under § 19-28.1-18. An order issued summarily against a person becomes a final order if the person fails to request a hearing under subsection (c) or if the person defaults after requesting a hearing.
(e)
Hearings and rehearings shall be public.
(f)
Hearings and other official acts of the director are subject to judicial review and will be made in accordance with chapter 35 of title 42.
(g)
Orders originally entered without a hearing under § 19-28.1-18 or § 19-28.1-19 may be reviewed only if the person seeking review has requested a hearing within the time provided by subsection (b). Petition for review under this subsection may be filed only after service of the order finally disposing of the person’s request for a hearing under subsection (b).
History of Section.
P.L. 1993, ch. 395, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-26. - Powers of director.

§ 19-28.1-26. Powers of director.
(a)
The director may make public or private investigations inside or outside this state or determine whether a person has violated, is violating, or is about to violate a provision of this act. The director may investigate to aid in the enforcement of this act or in prescribing rules under this act. The director may publish information concerning the violation of this act or a rule or order under this act.
(b)
The director may keep confidential any information obtained in the course of an investigation.
(c)
The director may investigate suspected criminal violations of this act and may refer evidence to the attorney general or a prosecuting attorney. Upon request of the attorney general or prosecuting attorney, the director and the director’s attorneys, deputies, or assistants may assist in presenting the law or facts at trial.
(d)
For the purposes of an investigation or proceeding under this act, the director may subpoena witnesses, compel their attendance, examine them under oath, or require the production of any documents or tangible things that the director deems relevant or material to this investigation or proceeding. The subpoena must state the date, place, and time at which the person is required to appear or produce documentary material.
(e)
A director’s subpoena shall be served in accordance with the service of process requirements of civil litigation in this state.
(f)
Upon application of the director, a court may compel compliance with a subpoena through a contempt proceeding.
History of Section.
P.L. 1993, ch. 395, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-27. - Rules, orders, forms and interpretive opinions.

§ 19-28.1-27. Rules, orders, forms and interpretive opinions.
(a)
The director may promulgate rules, forms, and orders necessary or appropriate to administer this act and may define terms, whether or not used in this act. The director may classify franchises, persons, and matters within the director’s jurisdiction and prescribe different rules for different classes. The act imposes no liability for an act or omission done in good faith in conformity with an order or rule of the director.
(b)
No rule, order, or form may be made unless the director finds that the action is necessary or appropriate in the public interest or for the protection of franchisees and consistent with the purposes fairly intended by the policy and provisions of the act.
(c)
The director may honor requests from interested persons for interpretive opinions or may issue determinations that the director will not institute enforcement proceedings against a person for engaging in certain specified activities where the determination is consistent with purposes fairly intended by the policy and provisions of the act.
History of Section.
P.L. 1993, ch. 395, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-28. - Service of process.

§ 19-28.1-28. Service of process.
(a)
A person who offers or sells a franchise subject to the registration requirements of this act in this state shall file with the director an irrevocable consent to service of process appointing the director as the person’s agent to receive service of process in a civil action or proceeding arising under this act.
(b)
A person who offers or sells a franchise in this state without filing a consent to service of process is deemed to appoint the director as the person’s agent to receive service of process in a civil action or proceeding arising under this act.
(c)
A person may effect service of process under this section by service on the director. The time to respond begins to run when the person sends notice of the service and a copy of the process by certified mail to the defendant or respondent or attorney of record at its last address on file with the director. If no address is on file with the director, the time to respond begins to run when the process is served on the director. The plaintiff shall file an affidavit of compliance with the court or tribunal hearing the matter.
History of Section.
P.L. 1993, ch. 395, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-29. - Fees.

§ 19-28.1-29. Fees.
(a)
The director shall charge and collect the fees fixed by this section. The director shall not refund fees.
(b)
The fee for filing an application for initial registration of a franchise under § 19-28.1-9 is six hundred dollars ($600).
(c)
The fee for filing a notice of exemption under § 19-28.1-6 is three hundred sixty dollars ($360).
(d)
The fee for filing an application for renewal of a registration under § 19-28.1-9 is three hundred dollars ($300).
(e)
The fee for filing a request for an amendment to an application under § 19-28.1-11 is one hundred twenty dollars ($120).
(f)
The fee for filing a request for an interpretive opinion under § 19-28.1-27(c) is three hundred dollars ($300).
(g)
[Deleted by P.L. 2016, ch. 153, § 2 and P.L. 2016, ch. 159, § 2].
History of Section.
P.L. 1993, ch. 395, § 2; P.L. 2009, ch. 68, art. 12, § 2; P.L. 2016, ch. 153, § 2; P.L. 2016, ch. 159, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-30. - Appropriation.

§ 19-28.1-30. Appropriation.
All fees shall be paid to the state treasurer and are hereby appropriated to the general fund.
History of Section.
P.L. 1993, ch. 395, § 2; P.L. 1994, ch. 273, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-31. - Cooperation with other agencies or organizations.

§ 19-28.1-31. Cooperation with other agencies or organizations.
To encourage uniform application and interpretation of this act and effective franchise regulation and enforcement, the director may cooperate with federal, state, or foreign agencies or administrators and law enforcement agencies, including:
(1)
Conducting joint examinations and investigations;
(2)
Holding joint administrative hearings;
(3)
Filing and prosecuting joint civil or administrative proceedings;
(4)
Sharing and exchanging information and documents subject to the restrictions of this state;
(5)
Sharing and exchanging personnel;
(6)
Formulating rules, regulations, statements of policy, guidelines, proposed statutory changes, and interpretive opinions and releases; and
(7)
Issuing and enforcing subpoenas at the request of the Federal Trade Commission or an agency administering franchise statutes in another jurisdiction if the information sought would also be subject to lawful subpoena for conduct occurring in this state.
History of Section.
P.L. 1993, ch. 395, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-33. - Construction.

§ 19-28.1-33. Construction.
This act shall be applied and construed with a view to uniformity among states enacting it. This act shall be liberally construed to effectuate its purposes.
History of Section.
P.L. 1993, ch. 395, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-34. - Severability.

§ 19-28.1-34. Severability.
If a provision of this act or its application to a person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of this act that can be given effect without the invalid provision of application. To this end the provisions of this act are severable. Further, this chapter shall not apply to entities regulated by chapter 55 of title 5.
History of Section.
P.L. 1993, ch. 395, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-32 - Guaranteed Asset-Protection Waivers › Section 19-32-1. - Legislative intent and purpose.

§ 19-32-1. Legislative intent and purpose.
(a)
The general assembly finds that guaranteed asset-protection waivers are not insurance. All guaranteed asset-protection waivers issued prior to and after the date of enactment of this chapter shall not be construed as insurance.
(b)
The purpose of this chapter is to provide a framework within which guaranteed asset-protection waivers are defined and may be offered within this state.
(c)
This chapter does not apply to:
(1)
An insurance policy offered by an insurer under title 27 including, but not limited to, vendor single interest coverage; or
(2)
A debt cancellation or debt suspension contract being offered in compliance with §§ 19-3-1 and 19-5-25 or 12 C.F.R. Part 37 or 12 C.F.R. Part 721 or other federal law.
(d)
Guaranteed asset-protection waivers governed under this section are not insurance and are exempt from the insurance laws of this state. Persons marketing, selling, or offering to sell guaranteed asset-protection waivers to borrowers that comply with this section are exempt from this state’s insurance licensing requirements.
History of Section.
P.L. 2016, ch. 530, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-32 - Guaranteed Asset-Protection Waivers › Section 19-32-2. - Definitions.

§ 19-32-2. Definitions.
The following are terms defined for purposes of this chapter and are not intended to provide actual terms required in guaranteed asset-protection waivers:
(1)
“Administrator” means a person, other than an insurer or creditor who performs administrative or operational functions pursuant to guaranteed asset-protection waiver programs.
(2)
“Borrower” means a debtor, retail buyer, or lessee, under a finance agreement.
(3)
“Creditor” means:
(i)
The lender in a loan or credit transaction;
(ii)
The lessor in a lease transaction;
(iii)
Any dealer of motor vehicles that provides credit to retail buyers of such motor vehicles, provided that such entities comply with the provisions of this section;
(iv)
Any retail seller of motor vehicles as defined herein in commercial retail installment transactions; or
(v)
The assignees of any of the foregoing to whom the credit obligation is payable.
(4)
“Finance agreement” means a loan, lease, or retail installment sales contract for the purchase or lease of a motor vehicle.
(5)
“Free-look period” means the period of time from the effective date of the GAP waiver until the date the borrower may cancel the contract without penalty, fees, or costs to the borrower. This period of time must be not less than thirty (30) days.
(6)
“Guaranteed asset-protection waiver” or “GAP waiver” means a contractual agreement wherein a creditor agrees, for a separate charge, to cancel or waive all or part of amounts due on a borrower’s finance agreement in the event of a total, physical-damage loss or unrecovered theft of the motor vehicle, which agreement must be part of, or a separate addendum to, the finance agreement.
(7)
“Insurer” means an insurance company licensed, registered, or otherwise authorized to do business under title 27.
(8)
“Motor vehicle” means self-propelled or towed vehicles designed for personal or commercial use, including, but not limited to: automobiles, trucks, motorcycles, recreational vehicles, all-terrain vehicles, snowmobiles, campers, boats, personal watercraft, and trailers for motorcycles, boats, campers, and personal watercraft.
(9)
“Person” includes an individual, company, association, organization, partnership, business trust, corporation, or other legal entity.
History of Section.
P.L. 2016, ch. 530, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-32 - Guaranteed Asset-Protection Waivers › Section 19-32-3. - Requirements for offering guaranteed asset-protection waivers.

§ 19-32-3. Requirements for offering guaranteed asset-protection waivers.
(a)
GAP waivers may be offered, sold, or provided to borrowers in this state in compliance with this chapter.
(b)
GAP waivers may, at the option of the creditor, be sold for a single payment, or may be offered with a monthly or periodic payment option.
(c)
Notwithstanding any provision of the general or public laws to the contrary, any cost to the borrower for a guaranteed asset-protection waiver entered into in compliance with the Truth in Lending Act, 15 U.S.C. § 1601 et seq., and its implementing regulations, as they may be amended from time to time, must be separately stated and is not to be considered a finance charge or interest.
(d)
A retail seller must insure its GAP waiver obligations under a contractual liability or other insurance policy issued by an insurer. A creditor, other than a retail seller, may insure its GAP waiver obligations under a contractual liability policy or other such policy issued by an insurer. Any such insurance policy may be directly obtained by a creditor, retail seller, or may be procured by an administrator to cover a creditor’s or retail seller’s obligations; provided, that retail sellers that are lessors on motor vehicles are not required to insure obligations related to GAP waivers on such leased vehicles.
(e)
The GAP waiver remains a part of the finance agreement upon the assignment, sale, or transfer of such finance agreement by the creditor.
(f)
Any creditor that offers a GAP waiver must report the sale of, and forward funds received on all such waivers to the designated party, if any, as prescribed in any applicable administrative services agreement, contractual liability policy, other insurance policy, or other specified program documents.
(g)
Funds received or held by a creditor or administrator and belonging to an insurer, creditor, or administrator, pursuant to the terms of a written agreement, must be held by such creditor or administrator in a fiduciary capacity.
History of Section.
P.L. 2016, ch. 530, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-32 - Guaranteed Asset-Protection Waivers › Section 19-32-4. - Contractual liability or other insurance policies.

§ 19-32-4. Contractual liability or other insurance policies.
(a)
Contractual liability or other insurance policies insuring GAP waivers must state the obligation of the insurer to reimburse or pay to the creditor any sums the creditor is legally obligated to waive under the GAP waivers issued by the creditor and purchased or held by the borrower.
(b)
Coverage under a contractual liability or other insurance policy insuring a GAP waiver must also cover any subsequent assignee upon the assignment, sale, or transfer of the finance agreement.
(c)
Coverage under a contractual liability or other insurance policy insuring a GAP waiver must remain in effect unless cancelled or terminated in compliance with title 27.
(d)
The cancellation or termination of a contractual liability or other insurance policy must not reduce the insurer’s responsibility for GAP waivers issued by the creditor prior to the date of cancellation or termination and for which premium has been received by the insurer.
History of Section.
P.L. 2016, ch. 530, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-32 - Guaranteed Asset-Protection Waivers › Section 19-32-5. - Disclosures.

§ 19-32-5. Disclosures.
Guaranteed asset-protection waivers must disclose, in writing and in clear, understandable language that is easy to read, the following:
(1)
The name and address of the initial creditor and the borrower at the time of sale, and the identity of any administrator if different from the creditor.
(2)
The purchase price and the terms of the GAP waiver, including, without limitation, the requirements for protection, conditions, or exclusions associated with the GAP waiver.
(3)
That the borrower may cancel the GAP waiver within a free-look period as specified in the waiver, and will be entitled to a full refund of the purchase price, as long as no benefits have been provided; or in the event benefits have been provided, the borrower may receive a full or partial refund pursuant to the terms of the waiver.
(4)
The procedure the borrower must follow, if any, to obtain GAP-waiver benefits under the terms and conditions of the waiver, including a telephone number and address where the borrower may apply for waiver benefits.
(5)
Whether or not the GAP waiver is cancellable after the free-look period, and the conditions under which it may be cancelled or terminated, including the procedures for requesting any refund due.
(6)
That in order to receive any refund due in the event of a borrower’s cancellation of the GAP waiver agreement or early termination of the finance agreement after the free-look period of the GAP waiver, the borrower, in accordance with terms of the waiver, must provide a written request to cancel to the creditor, administrator, or such other party within ninety (90) days of the occurrence of the event terminating the finance agreement.
(7)
The methodology for calculating any refund of the unearned purchase price of the GAP waiver due, in the event of cancellation of the GAP waiver or early termination of the finance agreement.
(8)
That neither the extension of credit, the terms of the credit, nor the terms of the related motor vehicle sale or lease may be conditioned upon the purchase of the GAP waiver.
History of Section.
P.L. 2016, ch. 530, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-32 - Guaranteed Asset-Protection Waivers › Section 19-32-6. - Cancellation.

§ 19-32-6. Cancellation.
(a)
GAP-waiver agreements may be cancellable or non-cancellable after the free-look period. GAP waivers must provide that if a borrower cancels a waiver within the free-look period, the borrower will be entitled to a full refund of the purchase price, as long as no benefits have been provided; or in the event benefits have been provided, the borrower may receive a full or partial refund pursuant to the terms of the waiver.
(b)
In the event of a borrower’s cancellation of the GAP waiver or early termination of the finance agreement after the agreement has been in effect beyond the free-look period, the borrower may be entitled to a refund of any unearned portion of the purchase price of the waiver, unless the waiver provides otherwise. In order to receive a refund, the borrower, in accordance with any applicable terms of the waiver, must provide a written request to the creditor, administrator, or other party, within ninety (90) days of the event terminating the finance agreement.
(c)
If the cancellation of a GAP waiver occurs as a result of a default under the finance agreement or the repossession of the motor vehicle associated with the finance agreement, or any other termination of the finance agreement, any refund due may be paid directly to the creditor or administrator and applied as set forth in subsection (d).
(d)
Any cancellation refund under subsection (a), (b), or (c) may be applied by the creditor as a reduction of the amount owed under the finance agreement, unless the borrower can show that the finance agreement has been paid in full.
History of Section.
P.L. 2016, ch. 530, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-32 - Guaranteed Asset-Protection Waivers › Section 19-32-7. - Commercial transactions exempted.

§ 19-32-7. Commercial transactions exempted.
Sections 19-32-3(c), 19-32-5 and 19-32-8 are not applicable to a GAP waiver offered in connection with a lease or retail installment sale associated with transactions between business entities.
History of Section.
P.L. 2016, ch. 530, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-32 - Guaranteed Asset-Protection Waivers › Section 19-32-8. - Severability.

§ 19-32-8. Severability.
If any provision of this chapter, or the application of the provision to any person or circumstances, is held invalid, the remainder of the chapter, and the application of the provision to persons or circumstances other than those as to which it is held invalid, is not to be affected.
History of Section.
P.L. 2016, ch. 530, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-33 - Student Loan Bill of Rights Act › Section 19-33-1. - Title.

§ 19-33-1. Title.
This chapter shall be known and may be cited as the “Student Loan Bill of Rights Act.”
History of Section.
P.L. 2019, ch. 199, § 1; P.L. 2019, ch. 265, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-33 - Student Loan Bill of Rights Act › Section 19-33-2. - Definitions.

§ 19-33-2. Definitions.
As used in this chapter:
(1)
“Commissioner” means the commissioner of postsecondary education.
(2)
“Department” means the department of business regulation, division of banking.
(3)
“Director” means the director of the department of business regulation or designee.
(4)
“Distressed borrower” means a student loan education borrower who is not considered current on their student education loan payments by the student loan servicer.
(5)
“Student education loan” means any loan made to a student loan borrower primarily for personal use to finance postsecondary education or other school-related expenses, and does not include an extension of credit under an open-end consumer credit plan, a reverse mortgage transaction, a residential mortgage transaction, or any other loan that is secured by real property or a dwelling.
(6)
“Student loan borrower” means:
(i)
Any resident of this state who has received or agreed to pay a postsecondary student education loan; or
(ii)
Any person who shares responsibility, as a guarantor or by other legal obligation, with such resident for repaying the postsecondary student education loan for another.
(7)
“Student loan servicer” means any person or entity who or that engages in student loan servicing as defined in this chapter.
(8)
“Student loan servicing” or “servicing” means:
(i)(A)
Receiving any scheduled periodic payments from a student loan borrower or notification of such payments; and
(B)
Applying payments to the student loan borrower’s account pursuant to the terms of the student education loan or of the contract governing the servicing;
(ii)
During a period when no payment is required on a student education loan, maintaining account records for the loan; and
(iii)
Communicating with the student loan borrower regarding the loan, on behalf of the loan’s holder; or
(iv)
Interactions with a student loan borrower, including activities to help prevent default on obligations arising from student education loans, conducted to facilitate the activities described in this section.
History of Section.
P.L. 2019, ch. 199, § 1; P.L. 2019, ch. 265, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-33 - Student Loan Bill of Rights Act › Section 19-33-3. - Borrower assistance, education, and complaints.

§ 19-33-3. Borrower assistance, education, and complaints.
(a)
The department of attorney general’s consumer protection unit, in collaboration with the director, general treasurer, and commissioner, shall:
(1)
Receive, review, and attempt to resolve complaints from student loan borrowers;
(2)
Compile and analyze data on student loan borrower complaints;
(3)
Assist student loan borrowers to understand their rights and responsibilities under the terms of student education loans;
(4)
Provide information to the public, agencies, the general assembly, and others regarding the problems and concerns of student loan borrowers and make recommendations for resolving those problems and concerns;
(5)
Share information concerning the availability of the consumer protection unit to assist student loan borrowers and potential student loan borrowers, as well as public institutions of higher education, student loan servicers, and any other participant in student education loan lending with any student loan servicing concerns; and
(6)
Take any other actions necessary to fulfill the borrower assistance, education, and complaints-related duties in this chapter.
(b)
The attorney general, the director, the general treasurer, and the commissioner, or designees, shall meet at least once per quarter to coordinate their efforts under this chapter.
History of Section.
P.L. 2019, ch. 199, § 1; P.L. 2019, ch. 265, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-33 - Student Loan Bill of Rights Act › Section 19-33-5. - Servicer registration account established.

§ 19-33-5. Servicer registration account established.
There is established a restricted receipt account to be known as the “servicer registration account” which shall be a separate account within the department. Registration fees and other monies, excluding examination fees pursuant to § 19-33-9, received by the department pursuant to the terms of this chapter shall be deposited into the account. Monies deposited in the account shall be transferred to the department of attorney general’s student loan consumer protection account at the request of the attorney general and shall be expended for the purpose of administering the provisions of this chapter.
History of Section.
P.L. 2019, ch. 199, § 1; P.L. 2019, ch. 265, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-33 - Student Loan Bill of Rights Act › Section 19-33-6. - Maintenance of records.

§ 19-33-6. Maintenance of records.
(a)
Each student loan servicer shall maintain complete records of each student education loan transaction, including recordings of communications with borrowers, for not less than two (2) years following the final payment on such student education loan or the assignment of such student education loan, whichever occurs first, or any longer period as may be required by any other provision of the general or public laws.
(b)
If requested by the division of banking, each student loan servicer shall make all records available, not later than five (5) business days after requested. Upon request, the department may grant a student loan servicer additional time to make these records available.
History of Section.
P.L. 2019, ch. 199, § 1; P.L. 2019, ch. 265, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-33 - Student Loan Bill of Rights Act › Section 19-33-7. - Reporting requirements.

§ 19-33-7. Reporting requirements.
Each registrant shall annually, on or before March 31, file a report with the department, giving any relevant information that the department may reasonably require concerning the business and operations during the preceding calendar year of the registrant within the state. At the time of filing each report, the sum of fifty-five dollars ($55.00) per registration shall be paid by the registrant to the department. Any registrant that delays the transmission of any report required by the provisions of this chapter beyond the limit, unless additional time is granted in writing for good cause, the department shall assess a penalty of twenty-five dollars ($25.00) for each day of the delay.
History of Section.
P.L. 2019, ch. 199, § 1; P.L. 2019, ch. 265, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-33 - Student Loan Bill of Rights Act › Section 19-33-10. - Fines.

§ 19-33-10. Fines.
(a)
The director, after an administrative hearing pursuant to chapter 35 of title 42, may issue fines upon a finding that the registrant violated the provisions of this chapter, or any regulation or order lawfully made pursuant to this chapter; or take any other action provided for in this chapter.
(b)
Any student loan servicer or the members, officers, directors, agents, and employees of any student loan servicer who or that violate or participate in the violation of any of the applicable provisions of this chapter, or any regulation promulgated thereunder, shall be punished by a fine of not more than two thousand dollars ($2,000) per violation. Each student education loan constitutes a separate offense.
History of Section.
P.L. 2019, ch. 199, § 1; P.L. 2019, ch. 265, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-33 - Student Loan Bill of Rights Act › Section 19-33-11. - Appeal and review.

§ 19-33-11. Appeal and review.
Any student loan servicer aggrieved by an action of the department in imposition of fines shall have the right to appeal the action, order, or decision pursuant to chapter 35 of title 42.
History of Section.
P.L. 2019, ch. 199, § 1; P.L. 2019, ch. 265, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-33 - Student Loan Bill of Rights Act › Section 19-33-12. - Prohibited conduct.

§ 19-33-12. Prohibited conduct.
No student loan servicer shall:
(1)
Directly or indirectly employ any scheme, device, or artifice to defraud or mislead student loan borrowers;
(2)
Engage in any unfair or deceptive practice toward any person or misrepresent or omit any material information in connection with the servicing of a student education loan, including, but not limited to, misrepresenting the amount, nature, or terms of any fee or payment due or claimed to be due on a student education loan, the terms and conditions of the loan agreement, or the borrower’s obligations under the loan;
(3)
Obtain property by fraud or misrepresentation;
(4)
Knowingly misapply or recklessly apply student education loan payments to the outstanding balance of a student education loan;
(5)
Knowingly or recklessly provide inaccurate information to a credit bureau, thereby harming a student loan borrower’s creditworthiness;
(6)
Fail to report both the favorable and unfavorable payment history of the student loan borrower to a nationally recognized consumer credit bureau at least annually if the student loan servicer regularly reports information to a credit bureau;
(7)
Refuse to communicate with an authorized representative of the student loan borrower who provides a written authorization signed by the student loan borrower, provided the student loan servicer may adopt procedures reasonably related to verifying that the representative is in fact authorized to act on behalf of the student loan borrower;
(8)
Negligently make any false statement or knowingly or willfully make any omission of a material fact in connection with any information or reports filed with a governmental agency or in connection with any examination conducted by the department or investigation conducted by the attorney general or other governmental agency; or
(9)
Fail to properly evaluate a student loan borrower for an income-driven or other student loan repayment program or for eligibility for a public service loan forgiveness program before placing the student loan borrower in forbearance or default, if an income-driven repayment or other program is available to the student loan borrower except as otherwise provided in federal law, federal student loan agreements, or a contract between the federal government and a student loan servicer.
History of Section.
P.L. 2019, ch. 199, § 1; P.L. 2019, ch. 265, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-33 - Student Loan Bill of Rights Act › Section 19-33-13. - Investigation and enforcement.

§ 19-33-13. Investigation and enforcement.
The attorney general may enforce a violation of § 19-33-12 as an unlawful act or practice under chapter 13.1 of title 6.
History of Section.
P.L. 2019, ch. 199, § 1; P.L. 2019, ch. 265, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-33 - Student Loan Bill of Rights Act › Section 19-33-14. - Private actions.

§ 19-33-14. Private actions.
Any student loan borrower may bring an action under § 6-13.1-5.2 for a violation of § 19-33-12 as an unlawful act or practice under chapter 13.1 of title 6.
History of Section.
P.L. 2019, ch. 199, § 1; P.L. 2019, ch. 265, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-33 - Student Loan Bill of Rights Act › Section 19-33-15. - Student loan consumer protection account established.

§ 19-33-15. Student loan consumer protection account established.
A student loan consumer protection restricted receipt account (the “account”) is hereby created within the department of the attorney general. Monies deposited in the account shall be expended by the attorney general for the purpose of administering the provisions of this chapter.
History of Section.
P.L. 2019, ch. 199, § 1; P.L. 2019, ch. 265, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-33 - Student Loan Bill of Rights Act › Section 19-33-16. - Exemption.

§ 19-33-16. Exemption.
(a)
For the purposes of this chapter, any federal- or state-chartered bank or credit union that originates a student education loan or acts as a servicer, and any wholly owned subsidiary of a bank or credit union, shall be exempt from the provisions of §§ 19-33-4, 19-33-6 through 19-33-11, inclusive, §§ 19-33-12(9), and 19-33-14.
(b)
Student loan servicers that are not banks or credit unions operating under federal or state charters, nor wholly owned subsidiaries thereof, that service student loans on behalf of state- or federal-chartered banks and credit unions, shall not be exempt from any section of this chapter.
History of Section.
P.L. 2019, ch. 199, § 1; P.L. 2019, ch. 265, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-34 - The Elder Adult Financial Exploitation Prevention Act › Section 19-34-1. - Definitions.

§ 19-34-1. Definitions.
As used in this chapter:
(1)
“Department” means the Rhode Island office of healthy aging.
(2)
“Elder adult” means a person who is sixty (60) years of age or older.
(3)
“Exploitation” means the fraudulent or otherwise illegal, unauthorized, or improper act or process of an individual, including, but not limited to, a caregiver or fiduciary that uses the resources of an elder adult for monetary or personal benefit, profit, gain, or that results in depriving an elder adult of rightful access to or use of benefits, resources, belongings, or assets by use, undue influence, harassment, duress, deception, false representation or false pretenses, or conduct in violation of § 11-68-2.
(4)
“Financial exploitation’' means:
(i)
The wrongful or unauthorized taking, withholding, appropriation, or use of the money, assets, or other property or the identifying information of a person; or
(ii)
Any act or omission taken by a person, including through the use of a power of attorney, guardianship, or any other legal authority, regarding an elder adult to:
(A)
Obtain control through deception, intimidation, fraud, or undue influence, over the other person’s money, assets, or property to deprive the other person of the ownership, use, benefit, or possession of the property; or
(B)
Convert the money, assets, or other property of the other person to deprive the other person of the ownership, use, benefit, or possession of the property.
(5)
“Regulated institution” means any financial institution, credit union, or other insured deposit-taking institution, that is authorized to do business in this state, including one authorized by operation of an interstate banking statute that allowed it original entry.
History of Section.
P.L. 2021, ch. 73, § 1, effective June 23, 2021; P.L. 2021, ch. 74, § 1, effective June 23, 2021.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-34 - The Elder Adult Financial Exploitation Prevention Act › Section 19-34-2. - Reporting suspected financial exploitation of elder adults.

§ 19-34-2. Reporting suspected financial exploitation of elder adults.
(a)
If an employee of a regulated institution has reasonable cause to believe that financial exploitation of an elder adult who is an account holder with the regulated institution has occurred, is occurring, or has been attempted, the employee shall notify the regulated institution of the suspected financial exploitation.
(b)(1)
If a regulated institution is notified of suspected financial exploitation under subsection (a) of this section or otherwise has reasonable cause to believe that financial exploitation of an elder adult who is an account holder with the regulated institution has occurred, is occurring, or has been attempted, the regulated institution shall assess the suspected financial exploitation and submit a report to the department identifying the name, address and, if known, the age of the elder adult; the name and address of any person responsible for the care of the elder adult; the nature and extent of the facts of the suspected activity; the basis of the reporter’s knowledge; and any other relevant information; or any other reporting requirements consistent with the provisions of § 42-66-8.
(2)
The regulated institution shall submit the required report no later than the earlier of:
(i)
The second business day following the date the regulated institution completes the regulated institution’s assessment of the suspected financial exploitation; or
(ii)
The seventh business day after the date the regulated institution is notified of the suspected financial exploitation under subsection (a) of this section or otherwise has reasonable cause to believe that the suspected financial exploitation has occurred, is occurring, or has been attempted.
(c)
A regulated institution that submits a report to the department of suspected financial exploitation of an elder adult under subsection (b) of this section is not required to make any additional report of suspected abuse, neglect, or exploitation for the same conduct constituting the reported suspected financial exploitation.
(d)
Each regulated institution shall adopt internal policies, programs, plans, or procedures for:
(1)
The employees of the regulated institution to make the notification required under subsection (a) of this section; and
(2)
The regulated institution to conduct the assessment and submit the report required under subsection (b) of this section.
(e)
The policies, programs, plans, or procedures adopted under subsection (d) of this section may authorize the regulated institution to report the suspected financial exploitation to other appropriate agencies and entities in addition to the department, including the attorney general, the Federal Trade Commission, and the appropriate law enforcement agency.
History of Section.
P.L. 2021, ch. 73, § 1, effective June 23, 2021; P.L. 2021, ch. 74, § 1, effective June 23, 2021.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-34 - The Elder Adult Financial Exploitation Prevention Act › Section 19-34-3. - Notifying third parties of suspected financial exploitation or abuse.

§ 19-34-3. Notifying third parties of suspected financial exploitation or abuse.
lf a regulated institution submits a report of suspected financial exploitation or abuse of an elder adult to the department pursuant to § 19-34-2, the regulated institution may at the time the regulated institution submits the report also notify a third party reasonably associated with the elder adult of the suspected financial exploitation or abuse, unless the regulated institution suspects the third party of financial exploitation or abuse of the elder adult.
History of Section.
P.L. 2021, ch. 73, § 1, effective June 23, 2021; P.L. 2021, ch. 74, § 1, effective June 23, 2021.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-34 - The Elder Adult Financial Exploitation Prevention Act › Section 19-34-4. - Temporary hold on transactions in certain cases of suspected financial exploitation.

§ 19-34-4. Temporary hold on transactions in certain cases of suspected financial exploitation.
(a)
Notwithstanding any other law, if a regulated institution submits a report of suspected financial exploitation of an elder adult to the department pursuant to § 19-34-2, the regulated institution:
(1)
May place a temporary hold on any transaction that:
(i)
Involves an account of the elder adult; and
(ii)
The regulated institution has reasonable cause to believe that financial exploitation of an elder adult has occurred, is occurring, has been attempted, or will be attempted.
(2)
Shall place a hold on any transaction involving the account of the elder adult if the hold is requested by the elder abuse unit of the office of attorney general or a law enforcement agency.
(b)
Subject to subsection (c) of this section, a hold placed on any transaction under subsection (a) of this section shall expire on the fifteenth business day after the date the regulated institution submits its report pursuant to § 19-34-2.
(c)
The regulated institution may extend a hold placed on any transaction under subsection (a) of this section for a period not to exceed thirty (30) business days after the expiration of the fifteen- business-day (15) period prescribed by subsection (b) of this section if requested by a state or federal agency or a law enforcement agency investigating the suspected financial exploitation. The regulated institution may also petition a court to extend a hold placed on any transaction pursuant to subsection (a) of this section beyond the fifteen-business-day (15) period prescribed by subsection (b) of this section. A court may enter an order extending or shortening a hold or providing other relief.
(d)
Each regulated institution shall adopt internal policies, programs, plans, or procedures for placing a hold on a transaction involving an account of an elder adult pursuant to this section.
History of Section.
P.L. 2021, ch. 73, § 1, effective June 23, 2021; P.L. 2021, ch. 74, § 1, effective June 23, 2021.