reglab/statecodes huggingface dataset:
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-16 - Uniform Voidable Transactions Act › Section 6-16-16. - Uniformity of application and construction.

§ 6-16-16. Uniformity of application and construction.
This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among the states enacting it.
History of Section.
P.L. 2018, ch. 141, § 3; P.L. 2018, ch. 236, § 3.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-16 - Uniform Voidable Transactions Act › Section 6-16-17. - Relation to Electronic Signatures in Global and National Commerce Act.

§ 6-16-17. Relation to Electronic Signatures in Global and National Commerce Act.
This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., but does not modify, limit, or supersede § 101(c) of that act, 15 U.S.C. § 7001(c), or authorize electronic delivery of any of the notices described in § 103(b) of that act, 15 U.S.C. § 7003(b).
History of Section.
P.L. 2018, ch. 141, § 3; P.L. 2018, ch. 236, § 3.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-17 - Bucket Shops › Section 6-17-1. - Definitions.

§ 6-17-1. Definitions.
The following words and phrases used in this chapter, unless a different meaning is plainly required by the context, have the following meanings:
(1)
“Bucketing” or “bucket shopping” means:
(i)
The making of or offering to make any contract respecting the purchase or sale, either upon credit or upon margin, of any securities or commodities, in which both parties to the contract intend, or the keeper intends, that the contract shall be, or may be, terminated, closed, or settled according to or upon the basis of the public market quotations of prices made on any board of trade or exchange upon which the securities or commodities are dealt in, and without a bona fide purchase or sale of the securities or commodities;
(ii)
The making of or offering to make any contract respecting the purchase or sale, either upon credit or upon margin, of any securities or commodities in which both parties intend, or the keeper intends, that the contract shall be or may be deemed terminated, closed, or settled when the public market quotations of prices for the securities or commodities named in the contract shall reach a certain figure without a bona fide purchase or sale of the securities or commodities; or
(iii)
The making of or offering to make any contract respecting the purchase or sale, either upon credit or upon margin, of any securities or commodities in which both parties do not intend, or the keeper does not intend, the actual or bona fide receipt or delivery of the securities or commodities, but do intend, or the keeper does intend, a settlement of the contract based upon the differences in the public market quotations of prices at which the securities or commodities are, or are asserted to be, bought and sold.
(2)
“Bucket shop” means any room, office, store, building, or other place where any contract prohibited by this chapter is made, or offered to be made.
(3)
“Commodities” mean anything movable that is bought and sold.
(4)
“Contract” means any agreement, trade, or transaction.
(5)
“Keeper” means any person owning, keeping, managing, operating, or promoting a bucket shop, or assisting to keep, manage, operate, or promote a bucket shop.
(6)
“Person” means an individual, partnership, corporation, or association, whether acting in his, her, or their own right or as the officer, agent, servant, correspondent, or representative of another.
(7)
“Securities” mean all evidences of debt or property and options for the purchase and sale of debt or property, shares in any corporation or association, bonds, coupons, scrip, rights, choses in action, and other evidences of debt or property and options for the purchase or sale of debt or property.
History of Section.
P.L. 1908, ch. 1565, § 1; G.L. 1909, ch. 353, § 1; G.L. 1923, ch. 406, § 1; G.L. 1938, ch. 614, § 1; G.L. 1956, § 6-17-1.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-17 - Bucket Shops › Section 6-17-2. - Penalties for violations.

§ 6-17-2. Penalties for violations.
Any person who makes or offers to make any contract defined in § 6-17-1, or who is the keeper of any bucket shop, shall, upon conviction, be punished by a fine not exceeding one thousand dollars ($1,000), or by imprisonment for not more than one year. Any person who shall be convicted of a second offense shall be punished by imprisonment for not more than five (5) years. The continuing of the keeping of a bucket shop, by any person, after the first conviction, shall be deemed a second offense under this chapter.
History of Section.
P.L. 1908, ch. 1565, § 2; G.L. 1909, ch. 353, § 2; G.L. 1923, ch. 406, § 2; G.L. 1938, ch. 614, § 2; G.L. 1956, § 6-17-2.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-17 - Bucket Shops › Section 6-17-3. - Ouster of corporation from doing business.

§ 6-17-3. Ouster of corporation from doing business.
If a domestic corporation shall be convicted of a second offense, the superior court shall have jurisdiction upon an action brought by the attorney general on the part of the state, and if a foreign corporation shall be convicted of a second offense, the superior court shall have jurisdiction in the same manner, to restrain the corporation from doing business in this state.
History of Section.
P.L. 1908, ch. 1565, § 2; G.L. 1909, ch. 353, § 2; G.L. 1923, ch. 406, § 2; G.L. 1938, ch. 614, § 2; G.L. 1956, § 6-17-3.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-17 - Bucket Shops › Section 6-17-4. - Furnishing quotations to aid prohibited contract.

§ 6-17-4. Furnishing quotations to aid prohibited contract.
Any person who shall communicate, receive, exhibit, or display in any manner any statement of quotations of prices of any securities or commodities with an intent to make or offer to make, or to aid in making or offering to make, any contract prohibited by this chapter, upon conviction shall be subject to the penalties provided in §§ 6-17-2 and 6-17-3.
History of Section.
P.L. 1908, ch. 1565, § 3; G.L. 1909, ch. 353, § 3; G.L. 1923, ch. 406, § 3; G.L. 1938, ch. 614, § 3; G.L. 1956, § 6-17-4.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-17 - Bucket Shops › Section 6-17-5. - Disclosure of terms and parties to transactions — Failure to disclose as evidence.

§ 6-17-5. Disclosure of terms and parties to transactions — Failure to disclose as evidence.
Every person shall furnish, upon demand, to any customer or principal for whom the person has executed any order for the actual purchase or sale of any securities or commodities, either for immediate or future delivery, a written statement containing the names of the persons from whom the property was bought, or to whom it has been sold, as the fact may be, the time when, place where, and the price at which the property was either bought or sold. If the person shall refuse or neglect to furnish the statement within twenty-four (24) hours after the demand, the refusal or neglect shall be evidence that the purchase or sale was bucketing or bucket shopping within the terms of this chapter.
History of Section.
P.L. 1908, ch. 1565, § 4; G.L. 1909, ch. 353, § 4; G.L. 1923, ch. 406, § 4; G.L. 1938, ch. 614, § 4; G.L. 1956, § 6-17-5.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26 - Interest and Usury › Section 6-26-1. - Legal rate of interest — Post judgment interest.

§ 6-26-1. Legal rate of interest — Post judgment interest.
Post judgment interest on any judgment, and interest in all business transactions where interest is secured or paid, shall be computed at the rate of twelve dollars ($12.00) on one hundred dollars ($100) for one year, unless a different rate is expressly stipulated.
History of Section.
G.L. 1896, ch. 166, § 11; G.L. 1909, ch. 201, § 6; G.L. 1923, ch. 228, § 6; G.L. 1938, ch. 485, § 1; G.L. 1956, § 6-26-1; P.L. 1981, ch. 54, § 2; P.L. 1988, ch. 129, art. 21, § 1; P.L. 1989, ch. 555, § 3.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26 - Interest and Usury › Section 6-26-3. - Criminal usury.

§ 6-26-3. Criminal usury.
Any person, who, on his or her own behalf or on behalf of any other person, partnership, corporation, or association, shall willfully and knowingly violate any of the provisions of § 6-26-2 shall be guilty of criminal usury and shall be imprisoned for not more than five (5) years.
History of Section.
P.L. 1909, ch. 434, § 2; G.L. 1923, ch. 228, § 8; G.L. 1938, ch. 485, § 3; G.L. 1956, § 6-26-3; P.L. 1970, ch. 263, § 1; P.L. 2014, ch. 528, § 15.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26 - Interest and Usury › Section 6-26-4. - Usurious contracts — Penalty.

§ 6-26-4. Usurious contracts — Penalty.
(a)
Every contract made in violation of any of the provisions of § 6-26-2, and every mortgage, pledge, deposit, or assignment made or given as security for the performance of the contract, shall be usurious and void.
(b)
Nothing contained in this section shall affect the rights of an endorsee or transferee of a negotiable instrument who purchases the instrument before maturity, for value, and without notice of its usurious character.
(c)
Nothing contained in this section shall affect the rights, duties or liabilities of any persons acting under the provisions of title 19, and if the borrower shall, either before or after suit, make any payment on the contract, either of principal or interest, or of any part of either, and whether to the lender or to any assignee, endorsee, or transferee of the contract, the borrower shall be entitled to recover from the lender the amount so paid in an action of the case. Receipts shall be given whenever payments are made of either principal or interest.
(d)
The provisions previously stated in this section shall not apply to any financial institution and its subsidiaries, credit union, or bank holding company and its subsidiaries, organized under the laws of the state; any other entity regulated by the department of business regulation; a national bank and its subsidiaries; federal savings and loan association or federal credit union; or a bank, company, or association collectively and individually referred to as a regulated financial institution. In the event a regulated financial institution knowingly contracts or charges a usurious rate of interest in violation of any of the provisions of § 6-26-2, it shall forfeit the entire interest on the debt. In case the usurious rate of interest has been paid, the person by whom it has been paid, or his or her legal representative, may recover from the regulated financial institution in an action in the nature of an action on the debt, twice the amount of the interest so paid, provided that the action is commenced within two (2) years from the time the usurious transaction occurred.
History of Section.
P.L. 1909, ch. 434, § 3; G.L. 1923, ch. 228, § 9; G.L. 1938, ch. 485, § 4; G.L. 1956, § 6-26-4; P.L. 1982, ch. 437, § 1; P.L. 1995, ch. 82, § 58; P.L. 2014, ch. 528, § 15.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26 - Interest and Usury › Section 6-26-5. - Pawnbrokers exempt.

§ 6-26-5. Pawnbrokers exempt.
Sections 6-26-2 — 6-26-4 shall not apply to loans made by duly licensed pawnbrokers on the security of a deposit of personal property.
History of Section.
P.L. 1909, ch. 434, § 4; G.L. 1923, ch. 228, § 10; G.L. 1938, ch. 485, § 5; G.L. 1956, § 6-26-5.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26 - Interest and Usury › Section 6-26-6. - Damages and interest on foreign protested bill of exchange.

§ 6-26-6. Damages and interest on foreign protested bill of exchange.
Whenever any foreign bill of exchange is or shall be drawn or endorsed within this state for the payment of any sum of money, and the bill is or shall be returned from any place or country outside the limits of the United States protested for nonacceptance or nonpayment, the drawer or endorser shall be subject to the payment of ten percent (10%) damages on the bill and charges for protest and the bill shall carry an interest of six percent (6%) per annum from the date of the protest.
History of Section.
G.L. 1896, ch. 166, § 1; G.L. 1909, ch. 201, § 1; G.L. 1923, ch. 228, § 1; G.L. 1938, ch. 456, § 1; G.L. 1956, § 6-23-1; P.L. 2014, ch. 528, § 15.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26 - Interest and Usury › Section 6-26-7. - Action on foreign protested bill.

§ 6-26-7. Action on foreign protested bill.
Any person having a right to demand any sum of money upon a foreign protested bill of exchange as stated in § 6-26-6 may commence and prosecute an action for principal, damages, interest, and charges of protest against the drawers and endorsers, jointly or severally, or against either of them separately; and judgment shall and may be given for the principal, damages, charges, and interest upon the principal after the rate established in § 6-26-6, to the time of the judgment, together with costs of suit.
History of Section.
G.L. 1896, ch. 166, § 2; G.L. 1909, ch. 201, § 2; G.L. 1923, ch. 228, § 2; G.L. 1938, ch. 456, § 2; G.L. 1956, § 6-23-2; P.L. 2001, ch. 86, § 19; P.L. 2014, ch. 528, § 15.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26 - Interest and Usury › Section 6-26-8. - Damages and interest on inland protested bill.

§ 6-26-8. Damages and interest on inland protested bill.
Whenever any inland bill of exchange shall be drawn or endorsed within this state for the payment of any sum of money outside this state, and the bill shall be protested for nonacceptance or nonpayment, the drawer or endorser shall be subject to the payment of five percent (5%) damages on the bill and charges of protest, and the bill shall carry an interest of six percent (6%) per annum from the date of the protest.
History of Section.
G.L. 1896, ch. 166, § 3; G.L. 1909, ch. 201, § 3; G.L. 1923, ch. 228, § 3; G.L. 1938, ch. 456, § 3; G.L. 1956, § 6-23-3.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26 - Interest and Usury › Section 6-26-9. - Penalty for possession of records of usurious transactions.

§ 6-26-9. Penalty for possession of records of usurious transactions.
Any person who shall, with knowledge of the contents, have in his or her possession any document, record, paper, instrument, or other writing that shall record or evidence a usurious debt in violation of the provisions of § 6-26-2, shall be imprisoned for not more than one year or fined not more than five hundred dollars ($500), or both.
History of Section.
P.L. 1970, ch. 263, § 2.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26 - Interest and Usury › Section 6-26-10. - Possession of usury records — Evidence of knowledge.

§ 6-26-10. Possession of usury records — Evidence of knowledge.
The possession by any person, other than a public official in the course of his or her duty, of any document, record, paper, instrument, or other writing that shall record or evidence a usurious debt in violation of § 6-26-2 shall be presumptive evidence of possession with knowledge of its contents in violation of § 6-26-9.
History of Section.
P.L. 1970, ch. 263, § 2.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26.1 - Credit Card Lending › Section 6-26.1-1. - Definitions.

§ 6-26.1-1. Definitions.
For purposes of this chapter, the following definitions shall apply:
(1)
“ACH”, also known as the Automated Clearing House Network, means the electronic funds-transfer system comprised of a network of associated institutions that process computer-based electronic financial transactions between originating and receiving depository financial institutions. ACH in the United States is governed by NACHA, the former National Automated Clearing House Association.
(2)
“Credit card device” includes any means of making a credit card transaction available to a borrower pursuant to a credit card plan, including, but not limited to, a card, draft or check, identification code, other means of identification, or other credit device or code, whether made directly or indirectly by means of telephone, point of sale terminal, automated teller machine, computer or other electronic or other communication or device, or through the mail.
(3)
“Credit card lender” or “lender” means any entity that is a lending institution as defined by § 19-9-1, or licensee as defined by § 19-14-1, that offers or extends credit in the form of a credit card transaction.
(4)
“Credit card plan” or “plan” means any arrangement or plan between a borrower and a credit card lender or issuer, including, without limitation, lines of credit directly between a borrower and a credit card lender or issuer, for open-end, revolving extensions of credit made available through a credit card device or other means of settlement between the credit card lender or issuer and the merchant, such as ACH or electronic-only credit card devices, provided, however, said “credit card plan” or “plan” does not include an extension of credit the repayment of which is secured by real property.
(5)
“Credit card transaction” means any loan or extension of credit made pursuant to a credit card plan. Without limitation of the foregoing, a credit card transaction may be extended under a credit card plan by a credit card lender’s acquisition of obligations arising out of the honoring by a merchant or other third-party; a credit card lender or other financial institution (whether chartered or organized under the laws of this or any other state, the District of Columbia, the United States, or any district, territory, or possession of the United States, or any foreign country); or a government or governmental subdivision or agency of a credit card device.
History of Section.
P.L. 2003, ch. 237, § 1; P.L. 2014, ch. 528, § 16; P.L. 2022, ch. 75, § 1, effective June 15, 2022; P.L. 2022, ch. 76, § 1, effective June 15, 2022.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26.1 - Credit Card Lending › Section 6-26.1-2. - Authorization to make loans — Usury.

§ 6-26.1-2. Authorization to make loans — Usury.
Any credit card lender may, subject to any limitations on lending authorities contained in its charter or otherwise imposed by law, offer and extend credit to a borrower and in connection with the credit may charge and collect interest, interest fees, and charges, and other charges permitted by this chapter and may take any security as collateral in connection with it that may be acceptable to the credit card lender.
History of Section.
P.L. 2003, ch. 237, § 1; P.L. 2014, ch. 528, § 16.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26.1 - Credit Card Lending › Section 6-26.1-3. - Variable rates.

§ 6-26.1-3. Variable rates.
If the agreement governing a credit card plan so provides, the periodic percentage rate or rates of interest under the plan may vary in accordance with a schedule or formula. The periodic rate or rates may vary from time to time as the rate determined in accordance with the schedule or formula varies and the periodic rate or rates, as so varied, may be made applicable to all or any part of outstanding, unpaid indebtedness under the plan on or after the first day of the billing cycle that contains the effective date of the variation, including any indebtedness arising out of purchases made or loans obtained prior to the variation in the periodic percentage rate or rates. Without limitation, a permissible schedule or formula pursuant to this section may include provisions in the agreement governing the plan for a change in the periodic percentage rate or rates of interest applicable to all or any part of outstanding unpaid indebtedness, 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 plan, which event or circumstance may include, but not be limited to, the failure of the borrower to perform in accordance with the terms of the plan.
History of Section.
P.L. 2003, ch. 237, § 1; P.L. 2014, ch. 528, § 16.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26.1 - Credit Card Lending › Section 6-26.1-4. - Interest.

§ 6-26.1-4. Interest.
A credit card lender may charge and collect interest under a credit card plan on outstanding unpaid indebtedness in the borrower’s account under the plan at any daily, weekly, monthly, annual, or other periodic percentage rate or rates that the agreement governing the plan provides or as established in the manner provided in the agreement governing the plan. If the agreement governing the plan so provides, the outstanding unpaid indebtedness may include the amount of any interest, interest fees and charges, and other charges outstanding. Interest may be calculated using an average daily balance; two-cycle, average daily balance; adjusted balance; previous balance method; or using any other balance computation method provided for in the agreement governing the plan. Credit card transactions may be included in the outstanding unpaid indebtedness as of any time as may be specified in the agreement governing the plan. Periodic billing cycles may be established in any manner and shall have the duration that may be specified in the agreement governing the plan.
History of Section.
P.L. 2003, ch. 237, § 1; P.L. 2014, ch. 528, § 16.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26.1 - Credit Card Lending › Section 6-26.1-5. - Interest fees and charges.

§ 6-26.1-5. Interest fees and charges.
(a)
In addition to, or in lieu of, interest at a periodic percentage rate or rates as provided in § 6-26.1-4, a credit card lender may, if the agreement governing the credit card plan so provides, charge and collect, as interest, in any manner or form that the plan may provide, one or more of the following:
(1)
Daily, weekly, monthly, annual, or other periodic charges in any amount or amounts that the agreement may provide for the privileges made available to the borrower under the plan;
(2)
A transaction charge or charges in any amount or amounts that the agreement may provide for each separate purchase, loan, or other transaction under the plan;
(3)
A minimum charge for each daily, weekly, monthly, annual or other scheduled billing period under the plan during any portion of which there is an outstanding unpaid indebtedness under the plan;
(4)
Reasonable fees for services rendered or for reimbursement of expenses incurred in good faith by the credit card lender or its agents in connection with the plan, or other reasonable fees incident to the application for and the opening, administration and termination of a plan including, without limitation, commitment, application and processing fees; official fees and taxes; costs incurred by reason of examination of title, inspection, appraisal, recording, mortgage satisfaction, or other formal acts necessary or appropriate to the security for the plan; and filing fees;
(5)
Returned payment charges or charges imposed for the return of a draft or check drawn on a credit card plan evidencing an extension of credit under the plan;
(6)
Documentary evidence charges;
(7)
Stop payment fees;
(8)
Overlimit charges;
(9)
Automated teller machine charges or other electronic or interchange fees or charges;
(10)
Prepayment charges authorized under subsection (b) of this section; and
(11)
Subject to any limitations contained in this chapter, any other fees and charges that are set forth in the agreement governing the plan.
(b)
An individual borrower may pay the outstanding unpaid indebtedness charged to the borrower’s account under a plan in full at any time. Except for a charge imposed to terminate a plan if the agreement governing the plan so provides, a credit card lender may not impose any prepayment charge in connection with the payment of outstanding unpaid indebtedness in full by an individual borrower. The terms of prepayment of the outstanding unpaid indebtedness relating to a credit card plan involving a borrower other than an individual borrower shall be as the lender and the borrower may agree.
(c)
No charges assessed in accordance with this section shall be deemed void as a penalty or otherwise unenforceable under any statute or the common law.
History of Section.
P.L. 2003, ch. 237, § 1; P.L. 2014, ch. 528, § 16.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26.1 - Credit Card Lending › Section 6-26.1-6. - Overdraft accounts.

§ 6-26.1-6. Overdraft accounts.
If credit under a credit card plan is offered and extended in connection with a demand deposit account or other transaction account maintained by the borrower pursuant to an agreement or arrangement whereby the holder of the deposit account agrees to honor checks, drafts or other debits to the account, which if paid would create or increase a negative balance in the account, by making extensions of credit to the borrower under the credit card plan, any charges customarily imposed under the terms governing the demand deposit or other transaction account in the absence of any associated credit card plan (including, without limitation, check charges, monthly maintenance charges, checkbook charges, charges for checks drawn on funds in excess of an available line of credit and other similar charges) may continue to be imposed on the account without specific reference to it or incorporation of it by reference in the agreement governing the credit card plan and the amount of the charge, to the extent the balance in the demand deposit or other transaction account is insufficient to pay such a charge, may be charged to the borrower’s account under the plan as a loan under it and may be included in outstanding unpaid indebtedness in accordance with the terms of the agreement governing the credit card plan.
History of Section.
P.L. 2003, ch. 237, § 1.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26.1 - Credit Card Lending › Section 6-26.1-7. - Omitted installments.

§ 6-26.1-7. Omitted installments.
A credit card lender may at any time and from time to time unilaterally extend to a borrower under a credit card plan the option of omitting monthly installments.
History of Section.
P.L. 2003, ch. 237, § 1.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26.1 - Credit Card Lending › Section 6-26.1-8. - Insurance.

§ 6-26.1-8. Insurance.
(a)
A credit card lender may request but not require an individual borrower to be insured in respect of a credit card plan under a life, health, accident, health and accident or other credit or other permissible insurance policy or program, whether group or individual.
(b)
In the case of a borrower borrowing under a credit card plan for other than personal, household or family purposes, a credit card lender may require the borrower to obtain insurance, from an insurer acceptable to the credit card lender, under a life, health, accident, health and accident or other credit or other permissible insurance policy or program, whether group or individual.
History of Section.
P.L. 2003, ch. 237, § 1.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26.1 - Credit Card Lending › Section 6-26.1-9. - Delinquent installments.

§ 6-26.1-9. Delinquent installments.
(a)
If the agreement governing a credit card plan so provides, a credit card lender may impose, as interest, a late or delinquency charge upon any outstanding unpaid installment payments or portions of it under the plan that are in default; provided, however, that no more than one such late or delinquency charge may be imposed with respect to any single installment payment or portion of it, regardless of the period during which it remains in default; and provided further, however, that for the purpose only of the preceding provision all payments by the borrower shall be deemed to be applied to satisfaction of installment payments in the order in which they become due. Nothing contained in this section shall limit, restrict, or otherwise affect the right of a credit card lender to change the percentage rate or rates of interest applicable to the credit plan between the credit card lender 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 plan.
(b)
No charges assessed by a credit card lender in accordance with this section shall be deemed void as a penalty or otherwise unenforceable under any statute or the common law.
History of Section.
P.L. 2003, ch. 237, § 1; P.L. 2014, ch. 528, § 16.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26.1 - Credit Card Lending › Section 6-26.1-10. - Attorneys’ fees — Costs.

§ 6-26.1-10. Attorneys’ fees — Costs.
In the event a borrower defaults under the terms of a plan, the credit card lender may, if the borrower’s account is referred to an attorney (not a regularly salaried employee of the credit card lender) or to a third party for collection and if the agreement governing the credit card plan so provides, charge and collect from the borrower a reasonable attorneys’ fee. In addition, following a borrower’s default, the credit card lender may, if the agreement governing the plan 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 credit card lender.
History of Section.
P.L. 2003, ch. 237, § 1.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26.1 - Credit Card Lending › Section 6-26.1-12. - Materiality of terms.

§ 6-26.1-12. Materiality of terms.
All terms, conditions and other provisions of and relating to a credit card plan as contained in this chapter or any other applicable chapter, or in the agreement governing the plan (other than those which are interest under this chapter,) including, without limitation, provisions relating to the method of determining the outstanding unpaid indebtedness on which interest is applied; time periods within which interest or interest fees and charges may be avoided; reasons for default and the right to cure any default; right to accelerate; account cancellation; choice of law; change in terms requirements; right to charge and collect attorneys’ fees; court and collection costs; and the compounding of interest or interest fees and charges, shall be, and hereby are deemed to be, material to the determination of interest applicable to a plan under Rhode Island law, under the most favored lender doctrine, and under the National Credit Card Lender Act (12 U.S.C. § 85) or Section 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (12 U.S.C. § 1831(d)).
History of Section.
P.L. 2003, ch. 237, § 1; P.L. 2014, ch. 528, § 16.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-26.1 - Credit Card Lending › Section 6-26.1-13. - Applicable law.

§ 6-26.1-13. Applicable law.
An agreement governing a credit card plan shall be governed by the laws of the state of Rhode Island, and any other law of this state limiting the rate or amount of interest, discounts, points, finance charges, service charges or other charges or fees shall not apply to extensions of credit under a credit card plan operated in accordance with this chapter.
History of Section.
P.L. 2003, ch. 237, § 1.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-27 - Truth in Lending and Retail Selling › Section 6-27-1. - Short title.

§ 6-27-1. Short title.
This chapter may be known and cited as “The Rhode Island Truth in Lending and Retail Selling Act.”
History of Section.
P.L. 1968, ch. 147, § 1; P.L. 1970, ch. 223, § 1.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-27 - Truth in Lending and Retail Selling › Section 6-27-2. - Declaration of purpose.

§ 6-27-2. Declaration of purpose.
The general assembly finds that economic stabilization would be enhanced and that competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the informed use of credit. The informed use of credit results from an awareness of the cost of credit by consumers. It is the purpose of this chapter to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him or her and thus avoid the uninformed use of credit.
History of Section.
P.L. 1968, ch. 147, § 1; P.L. 1970, ch. 223, § 1.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-27 - Truth in Lending and Retail Selling › Section 6-27-3. - Definitions.

§ 6-27-3. Definitions.
As used in this chapter:
(1)
“Credit” means any loan, mortgage, deed of trust, advance, or discount; any conditional sales contract; any contract to sell, or sale or contract of sale of property or services either for present or future delivery, under which part or all of the price is payable subsequent to the making of the sale or contract and the creditor imposes a finance charge; any contract or arrangement for the hire, bailment, or leasing of property in connection with which the creditor imposes a finance charge; any option, demand, lien, pledge, or other claim against or for the delivery of property or money; any purchase, or other acquisition of, or any credit upon the security of, any obligation or claim arising out of any of the foregoing; and any transaction or series of transactions having a similar purpose or effect.
(2)
“Creditor” means any person engaged in the business of extending credit, including any person who as a regular business practice makes loans or sells or rents property or services on a time, credit, or installment basis, either as principal or as agent, who requires, as an incident to the extension of credit, the payment of a finance charge.
(3)
“Director” means the director of business regulation.
(4)
“Official fees” means the fees prescribed by law for filing, recording, or otherwise perfecting or releasing or satisfying any title, lien, or security interest retained or taken by a creditor in connection with the extension of credit.
(5)
“Person” means any individual, corporation, partnership, association, or other organized group of persons, or the legal successor or representative of the foregoing.
(6)
“Revolving or open-end credit plan” means a credit plan prescribing the terms of credit transactions exclusive of cash advances under the plans.
History of Section.
P.L. 1968, ch. 147, § 1; P.L. 1970, ch. 223, § 1; P.L. 1989, ch. 481, § 2.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-27 - Truth in Lending and Retail Selling › Section 6-27-4. - Maximum charge — Refunds.

§ 6-27-4. Maximum charge — Refunds.
(a)
No creditor shall impose a finance charge in excess of an amount equal to eighteen percent (18%) simple interest per annum. This subsection shall not apply to any transaction in connection with which the finance charge does not exceed ten dollars ($10.00). Notwithstanding the provision of any retail installment contract to the contrary, a buyer may prepay in full the unpaid balance of any retail installment contract at any time before its final due date and, if the buyer does so, shall receive a refund credit on the retail installment contract for the prepayment. The amount of the refund credit of finance charges on precomputed loans, made for an original term of sixty (60) months or less, may be calculated on the method commonly referred to as the rule of 78s or sum of the digits. Refund credits of finance charges on precomputed loans, made for an original term greater than sixty (60) months, must be at least the amount as that produced by the rule of anticipation.
(b)
Where the amount of refund credit is less than one dollar ($1.00), no refund credit need be made.
(c)
Notwithstanding any contrary provision of law, the maximum finance charge that may be applied under a revolving or open-end credit plan in connection with a transaction arising out of a retail sale of consumer goods, including the retail sale of gasoline or services, shall not exceed the rate or rates agreed to by the creditor and a retail buyer compared on the average daily balance of the open-end or revolving account or the unpaid balance of the open-end or revolving account outstanding as of the end of the current billing cycle. Regardless of any agreement to the contrary, a transaction under a revolving or open-end credit plan is subject to this section whenever a solicitation for the extension of credit is made by a creditor whose primary activity in Rhode Island is soliciting Rhode Island customers through the mails and the solicitation originates outside Rhode Island but is directed to, and received by, a retail buyer who resides and responds to the solicitation in Rhode Island.
(d)
This section shall not apply to any person doing business under and as permitted by any general or special law of this state or of the United States relating to: (1) financial institutions, (2) credit unions, or (3) licensees pursuant to title 19, chapter 44 of title 6, and § 6-26-2.
(e)
Under each revolving or open-end credit plan a late fee not to exceed twelve dollars ($12.00) may be assessed on each minimum payment not paid in full within forty (40) days following the billing date of the statement on which the minimum payment first appears.
History of Section.
P.L. 1968, ch. 147, § 1; P.L. 1968, ch. 184, § 1; P.L. 1970, ch. 223, § 1; P.L. 1981, ch. 303, § 1; P.L. 1982, ch. 436, § 1; P.L. 1986, ch. 359, § 2; P.L. 1989, ch. 481, § 2; P.L. 1994, ch. 228, § 1; P.L. 1995, ch. 82, § 59; P.L. 1995, ch. 194, § 1; P.L. 1997, ch. 98, § 11; P.L. 2014, ch. 528, § 17.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-27 - Truth in Lending and Retail Selling › Section 6-27-5. - Consumer notes.

§ 6-27-5. Consumer notes.
(a)
If any contract between a retail seller and a retail buyer for the sale of consumer goods and services requires or involves the execution of a promissory note by a retail buyer in connection with an extension of credit by the retail seller, or by a creditor to whom the retail buyer was referred by the retail seller and to whom the retail seller regularly, as part of the ordinary conduct of its business and with the actual knowledge of the creditor, refers retail buyers for credit, the words “nonnegotiable consumer note” shall be placed prominently on the note and an assignee of a note with the words “nonnegotiable consumer note” appearing prominently on the note shall take the note subject to the claims and defenses permitted under § 6A-3-306, irrespective of whether or not the assignee qualifies as a “holder in due course” as defined in § 6A-3-302. For the purposes of this section “consumer goods” means tangible personal property used or bought for use primarily for personal, family, or household purposes.
(b)
A creditor who obtains a note from the maker in violation of this section shall be punished by a fine of not less than one hundred dollars ($100) nor more than five hundred dollars ($500).
(c)
If a note is obtained by a creditor from a maker in violation of this section, no finance, delinquency, collection, repossession, or refinancing charges may be recovered in any action or proceeding based on the contract for sale by the creditor and if the charges are recovered from a maker by a holder in due course, the maker may recover the charges from the creditor who violated the provisions of this section.
(d)
The provisions of this section shall not apply to any notes executed in connection with any financing that is insured under federal housing administration regulations.
History of Section.
P.L. 1968, ch. 147, § 1; P.L. 1969, ch. 170, § 1; as redesignated by P.L. 1970, ch. 223, § 1; P.L. 2014, ch. 528, § 17.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-27 - Truth in Lending and Retail Selling › Section 6-27-6. - Regulations.

§ 6-27-6. Regulations.
(a)
The director shall prescribe any rules and regulations not inconsistent with this chapter that may be necessary or proper in carrying out its provisions.
(b)
It is the expressed intention of this legislature that if exemption from the law or regulation of the federal government of the disclosure class of credit transactions covered hereby cannot be affected, the laws of the federal government shall preempt the provisions of this chapter.
History of Section.
P.L. 1968, ch. 147, § 1; as redesignated by P.L. 1970, ch. 223, § 1.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-27 - Truth in Lending and Retail Selling › Section 6-27-7. - Civil and criminal penalties.

§ 6-27-7. Civil and criminal penalties.
(a)
Any creditor who in connection with any credit transaction willfully imposes a finance charge in violation of § 6-27-4 or any regulation issued under § 6-27-4, shall be liable to the person in the amount of one hundred dollars ($100), or in an amount equal to twice the finance charge required by the creditor in connection with the transaction, whichever is the greater, except that the liabilities shall not exceed two thousand dollars ($2,000) on any credit transaction. An action to recover the penalty may be brought by the person within one year from the date of the occurrence of the violation, in any court of competent jurisdiction. In any action under this subsection in which any person is entitled to a recovery, the creditor shall be liable for reasonable attorney’s fees and court costs as determined by the court.
(b)
Any person who willfully violates any provision of § 6-27-4 or any regulation issued under § 6-27-4 shall be fined not more than five hundred dollars ($500) or imprisoned not more than one year, or both.
(c)
Except as specified in subsection (a) of this section, nothing contained in this chapter or any regulation issued under this chapter shall affect the validity or enforceability of any contract or transaction.
(d)
No punishment or penalty provided by this chapter shall apply to the United States or any agency of the United States, or to any state, any political subdivision of a state, or any agency of any state or political subdivision.
History of Section.
P.L. 1968, ch. 147, § 1; as redesignated by P.L. 1970, ch. 223, § 1.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-27 - Truth in Lending and Retail Selling › Section 6-27-8. - Severability.

§ 6-27-8. Severability.
If any provision of this chapter or the application of any provision of this chapter to any person or circumstance is held unconstitutional, the remainder of this chapter and the application of the provision to other persons or circumstances shall not be affected thereby, and it shall be conclusively presumed that the legislature would have enacted the remainder of this chapter without the invalid or unconstitutional provision.
History of Section.
P.L. 1968, ch. 147, § 1; as redesignated by P.L. 1970, ch. 223, § 1.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-27 - Truth in Lending and Retail Selling › Section 6-27-9. - Retail sales — Refunds.

§ 6-27-9. Retail sales — Refunds.
(a)
Except where a customer has been clearly informed by either a poster or other appropriate notice placed at the point of display or at the cash register or at the store entrance that all sales are final and that the merchandise is not returnable, wherever a customer who has paid cash for an item, and who has in his or her possession a sales slip or other evidence that he or she has purchased the item in a retail outlet, returns the item, unused, within ten (10) business days from the date of purchase, he or she shall be entitled to a refund in the same manner as paid in an amount equivalent to that paid at the time of sale.
(b)
This section shall not apply to the sale of books, magazines, or any publications; food; perishable items; merchandise that is substantially custom-made or custom-finished; items for internal consumption; items sold “as is”; or any items presently prohibited for refund, return, or exchange by a retailer by federal or state law or any rule or regulation promulgated by any state agency.
(c)
Any person, corporation, or entity, refusing or neglecting to post in accordance with subsection (a), shall be deemed guilty of a misdemeanor for each violation and shall be punished by a fine of not less than five hundred dollars ($500) or more than one thousand dollars ($1,000).
History of Section.
P.L. 1975, ch. 180, § 1; P.L. 1980, ch. 281, § 1; P.L. 1994, ch. 174, § 1; P.L. 1994, ch. 299, § 1; P.L. 1995, ch. 177, § 1; P.L. 2004, ch. 299, § 1; P.L. 2014, ch. 528, § 17.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-28 - Door-To-Door Sales › Section 6-28-1. - Short title.

§ 6-28-1. Short title.
This chapter may be known and cited as the “Door-to-Door Sales Act.”
History of Section.
P.L. 1995, ch. 52, § 1.
2023 Rhode Island General Laws › Title 6 - Commercial Law – General Regulatory Provisions › Chapter 6-28 - Door-To-Door Sales › Section 6-28-3. - Right to cancel — Method.

§ 6-28-3. Right to cancel — Method.
In addition to any right otherwise to revoke an offer, the buyer may cancel a door-to-door sale or lease of merchandise by posting written notice of cancellation to the seller at the address specified for notice of cancellation provided by the seller not later than midnight three (3) days following the buyer’s signing the agreement, excluding Sunday and any holiday on which regular mail deliveries are not made. The notice of cancellation shall be sent by registered or certified mail. Notice of cancellation given by the buyer shall be effective if it indicates the intention on the part of the buyer not to be bound by the door-to-door sale or lease of merchandise.
History of Section.
P.L. 1995, ch. 52, § 1.