reglab/statecodes huggingface dataset:
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-14.10 - An Act Adopting the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2009 › Section 19-14.10-14. - Surety bond required.

§ 19-14.10-14. Surety bond required.
(a)
Each mortgage loan originator shall be covered by a surety bond in accordance with this section. In the event that the mortgage loan originator is an employee of a lender or loan broker licensed under chapter 14 of title 19, the surety bond of such lender or loan broker as required in accordance with the provisions of such chapter, increased to any higher amount, required by this section can be used in lieu of the mortgage loan originator’s surety bond requirement.
(1)
The surety bond shall provide coverage for each mortgage loan originator in an amount as prescribed in subsection (b).
(2)
The surety bond shall be in a form as prescribed by the director, or the director’s designee.
(3)
The director, or the director’s designee, may promulgate rules or regulations with respect to the requirements for such surety bonds as are necessary to accomplish the purposes of this chapter.
(b)
The penal sum of the surety bond shall be maintained in an amount that reflects the dollar amount of loans originated as determined by the director, or the director’s designee, by regulation adopted within one hundred twenty (120) days of the effective date of this section.
(c)
When an action is commenced on a licensee’s bond, the director, or the director’s designee, may require the filing of a new bond.
(d)
Immediately upon recovery upon any action on the bond the licensee shall file a new bond.
(e)
The director, or the director’s designee, shall, within one hundred twenty (120) days of the effective date of this section, promulgate rules or regulations with respect to the requirements for surety bonds as are necessary to accomplish the purposes of this chapter.
History of Section.
P.L. 2009, ch. 148, § 3; P.L. 2009, ch. 160, § 3; P.L. 2011, ch. 145, § 3.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-14.10 - An Act Adopting the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2009 › Section 19-14.10-15. - Confidentiality.

§ 19-14.10-15. Confidentiality.
In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing:
(1)
Except as otherwise provided in public law 110-289, § 1512 (12 U.S.C. § 5111), the requirements under any federal law, or chapter 2 of title 38 of the general laws of Rhode Island regarding the privacy or confidentiality of any information or material provided to the Nationwide Mortgage Licensing System and Registry, and any privilege arising under federal or state law (including the rules of any federal or state court) with respect to such information or material, shall continue to apply to such information or material after the information or material has been disclosed to the Nationwide Mortgage Licensing System and Registry. Such information and material may be shared with all state and federal regulatory officials with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal law or chapter 2 of title 38 of the general laws of Rhode Island.
(2)
For these purposes, the director, or the director’s designee, is authorized to enter agreements or sharing arrangements with other governmental agencies, the Conference of State Bank Supervisors, the American Association of Residential Mortgage Regulators or other associations representing governmental agencies as established by rule, regulation, or order of the director, or the director’s designee.
(3)
Information or material that is subject to a privilege or confidentiality under subsection (a) shall not be subject to:
(i)
Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of the federal government or the respective state; or
(ii)
Subpoena or discovery, or admission into evidence, in any private civil action or administrative process, unless with respect to any privilege held by the Nationwide Mortgage Licensing System and Registry with respect to such information or material, the person to whom such information or material pertains waives, in whole or in part, in the discretion of such person, that privilege.
(4)
Section 19-4-3 relating to the disclosure of confidential supervisory information or any information or material described in this section that is inconsistent with this section shall be superseded by the requirements of this section.
(5)
This section shall not apply with respect to the information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, mortgage loan originators that is included in the Nationwide Mortgage Licensing System and Registry for access by the public.
History of Section.
P.L. 2009, ch. 148, § 3; P.L. 2009, ch. 160, § 3.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-14.10 - An Act Adopting the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2009 › Section 19-14.10-18. - Mortgage call reports.

§ 19-14.10-18. Mortgage call reports.
Each lender, loan broker, or mortgage loan originator licensee shall submit to the Nationwide Mortgage Licensing System and Registry reports of condition, which shall be in such form and shall contain such information as the Nationwide Mortgage Licensing System and Registry may require.
History of Section.
P.L. 2009, ch. 148, § 3; P.L. 2009, ch. 160, § 3.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-14.10 - An Act Adopting the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2009 › Section 19-14.10-19. - Report to Nationwide Mortgage Licensing System and Registry.

§ 19-14.10-19. Report to Nationwide Mortgage Licensing System and Registry.
Subject to state privacy law the director, or the director’s designee, is required to report regularly violations of this chapter, as well as enforcement actions and other relevant information, to the Nationwide Mortgage Licensing System and Registry subject to the provisions contained in § 19-1-4-3.
History of Section.
P.L. 2009, ch. 148, § 3; P.L. 2009, ch. 160, § 3.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-14.10 - An Act Adopting the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2009 › Section 19-14.10-20. - Reserved.

§ 19-14.10-20. Reserved.
History of Section.
P.L. 2009, ch. 148, § 3; P.L. 2009, ch. 160, § 3.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-14.10 - An Act Adopting the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2009 › Section 19-14.10-21. - Unique identifier shown.

§ 19-14.10-21. Unique identifier shown.
The name and the unique identifier assigned by the Nationwide Multistate Licensing System of any person originating a residential mortgage loan shall be clearly shown on all residential mortgage loan application forms, solicitations or advertisements, including business cards or websites, and any other documents as established by rule, regulation, or order of the director, or the director’s designee.
History of Section.
P.L. 2009, ch. 148, § 3; P.L. 2009, ch. 160, § 3; P.L. 2022, ch. 338, § 4, effective June 29, 2022; P.L. 2022, ch. 339, § 4, effective June 29, 2022.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-14.10 - An Act Adopting the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2009 › Section 19-14.10-22. - Severability.

§ 19-14.10-22. Severability.
If any provision of this chapter or its application to any person or circumstance is held invalid, the remainder of the chapter or the application of the provision to other persons or circumstances is not affected.
History of Section.
P.L. 2009, ch. 148, § 3; P.L. 2009, ch. 160, § 3.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-14.11 - Third-Party Loan Servicers › Section 19-14.11-1. - License required.

§ 19-14.11-1. License required.
(a)
No person shall act as a third-party loan servicer, directly or indirectly, for a loan to a Rhode Island borrower without first obtaining a license under this chapter from the director, or the director’s designee.
(b)
No license shall be required of:
(1)
A depository institution, or an affiliate or subsidiary of a depository institution, that is controlled by, or under common control with, the depository institution and subject to the regulatory authority of the primary regulator of the depository institution.
(2)
A lender licensed under chapter 14 of title 19 that retains the servicing rights on a loan originally closed in the lender’s name and subsequently sold, in whole or in part, to a third party, provided that the provisions of §§ 19-14.11-2 (segregated accounts) and 19-14.11-4 (prohibited acts and practices) of this chapter shall apply to such lender.
(3)
A debt-management company licensed in this state when engaged in activities permitted pursuant to its debt-management license.
(4)
An attorney licensed in this state when collecting a debt on behalf of a client.
(5)
Bona-fide nonprofit, organizations, exempt from taxation under section 501(c) of the Internal Revenue Code, that are approved by the Department of Housing and Urban Development as housing counseling agencies; that have a physical location in Rhode Island; and that lend state or federal funds.
History of Section.
P.L. 2014, ch. 487, § 2; P.L. 2014, ch. 522, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-14.11 - Third-Party Loan Servicers › Section 19-14.11-2. - Segregated accounts.

§ 19-14.11-2. Segregated accounts.
(a)
All amounts paid by borrowers to a licensee subject to this chapter shall be deposited in one or more accounts maintained at a federally insured depository institution, and with respect to such funds, the licensee shall act as a fiduciary. Such account, or accounts, shall be segregated from all other accounts of the licensee. Such funds shall not be used in the conduct of the licensee’s personal affairs or in the licensee’s business affairs.
(b)
The licensee may withdraw funds from the segregated account for payment directly to the owner of the loan or other third party of principal and interest and other payments as may be required pursuant to the terms of the loan document or servicing contract.
(c)
The licensee may withdraw funds from the segregated account for commissions to which it is entitled for services actually performed.
(d)
The licensee may return funds from the segregated account to the borrower if not prohibited.
(e)
The licensee shall maintain complete and accurate account records, including, at a minimum, the source of all deposits; the nature and recipient of all disbursements; the date and amount of each transaction; and the name of the borrower. All documents pertaining to account activity shall be produced upon request of the director.
History of Section.
P.L. 2014, ch. 487, § 2; P.L. 2014, ch. 522, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-14.11 - Third-Party Loan Servicers › Section 19-14.11-3. - Records required of licensee.

§ 19-14.11-3. Records required of licensee.
The licensee shall keep, use in the licensee’s business, and make available to the director, or the director’s designee, upon request, such books, accounts, records, and data compilations as will enable the director, or director’s designee, to determine whether such licensee is complying with the provisions of this and other applicable chapters and with the rules and regulations promulgated thereunder. Every licensee shall preserve such books, accounts, records, and data compilations in a secure manner and in accordance with § 19-14-20 for at least three (3) years after making the final entry on any loan recorded therein.
History of Section.
P.L. 2014, ch. 487, § 2; P.L. 2014, ch. 522, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-14.11 - Third-Party Loan Servicers › Section 19-14.11-4. - Prohibited acts and practices.

§ 19-14.11-4. Prohibited acts and practices.
It is a violation of this chapter for a person to:
(1)
Directly or indirectly employ any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person.
(2)
Engage in any unfair or deceptive practice toward any person.
(3)
Obtain property by fraud or misrepresentation.
(4)
Use any unfair or unconscionable means in servicing a loan.
(5)
Knowingly misapply or recklessly apply loan payments to the outstanding balance of a loan.
(6)
Knowingly misapply or recklessly apply payments to escrow accounts.
(7)
Require the unnecessary forced placement of insurance when adequate insurance is currently in place.
(8)
Fail to provide loan payoff information within the time period set forth in chapter 19.
(9)
Charge excessive or unreasonable fees to provide loan payoff information.
(10)
Fail to manage and maintain escrow accounts in accordance with § 19-9-2.
(11)
Knowingly or recklessly provide inaccurate information to a credit bureau, thereby harming a consumer’s credit worthiness.
(12)
Fail to report both the favorable and unfavorable payment history of the consumer to a nationally recognized consumer credit bureau at least annually if the servicer regularly reports information to a credit bureau.
(13)
Collect private mortgage insurance beyond the date for which private mortgage insurance is required.
(14)
Knowingly or recklessly facilitate the illegal foreclosure of real property collateral.
(15)
Knowingly or recklessly facilitate the illegal repossession of chattel collateral.
(16)
Fail to respond to consumer complaints in a timely manner.
(17)
Conduct any business covered by this chapter without holding a valid license as required under this chapter, or assist, or aid and abet, any person in the conduct of business under this chapter without a valid license as required under this chapter.
(18)
Fail to comply with any federal or state law, rule, or other legally binding authority relating to the evaluation of loans for modification purposes or the modification of loans.
(19)
Fail to comply with this chapter, or rules adopted under this chapter, or fail to comply with any orders or directives from the director, or fail to comply with any other state or federal law, including the regulations thereunder, applicable to any business authorized or conducted under this chapter.
History of Section.
P.L. 2014, ch. 487, § 2; P.L. 2014, ch. 522, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-1. - Businesses subject to chapter.

§ 19-26-1. Businesses subject to chapter.
Every person, partnership, or corporation, except a national bank or bank or trust company duly incorporated under the laws of this state, engaged in the business of loaning money on the security of a deposit of any personal property other than choses in action, whether or not a note or other evidence of indebtedness be given by the borrower, shall be deemed to be carrying on the business of a pawnbroker, within the meaning of this chapter, and shall be subject to all the provisions contained in this chapter.
History of Section.
G.L. 1896, ch. 105, § 17; P.L. 1909, ch. 435, § 5; G.L. 1923, ch. 131, § 17; G.L. 1938, ch. 364, § 17; G.L. 1956, § 19-26-1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-2. - City or town license — Fee — Revocation.

§ 19-26-2. City or town license — Fee — Revocation.
The city or town council of any city or town may grant licenses to suitable persons, residents of the state, under any conditions and regulations that it may think proper, to carry on the business of pawnbrokers within their respective cities or towns for the term of one year at the place designated in the license, and every license granted shall designate the place where the business shall be carried on, and the carrying on of the business in any other place than that designated in the license, whether by the person named or by any other person, shall be deemed to be without license, and shall be punished accordingly; and every person taking the license shall pay to the city or town treasurer a sum not less than fifty dollars ($50.00), nor more than two hundred dollars ($200), to be fixed by the city or town council, and notwithstanding anything contained in this chapter, any license granted may be revoked and annulled by the city or town council at any time without affecting any liability under the bonds to be given, and without any claim for the money, or any part of the money, paid for the license.
History of Section.
G.L. 1896, ch. 105, § 1; G.L. 1909, ch. 126, § 1; G.L. 1923, ch. 131, § 1; G.L. 1938, ch. 364, § 1; G.L. 1956, § 19-26-2; P.L. 2004, ch. 169, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-3. - License bond.

§ 19-26-3. License bond.
Before any license is issued under the provisions of this chapter, the person applying for the license shall give bond to the city or town treasurer in the penal sum of two thousand dollars ($2,000), with at least two (2) sureties satisfactory to the town council, which sureties shall be residents of the town or city where the licensee proposes to do business, conditioned that he or she will not violate any of the provisions of this chapter, and for the payment of all costs and damages incurred by any violation of this chapter, and the other fines and penalties provided for in this section for any violation of the provisions of this chapter shall not affect the liability of the obligor upon the bond.
History of Section.
G.L. 1896, ch. 105, § 1; G.L. 1909, ch. 126, § 1; G.L. 1923, ch. 131, § 1; G.L. 1938, ch. 364, § 1; G.L. 1956, § 19-26-3.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-4. - Penalty for unlicensed business.

§ 19-26-4. Penalty for unlicensed business.
Every person carrying on the business of pawnbroker without a license shall be fined two hundred dollars ($200) for the first offense and five hundred dollars ($500) for the second and every subsequent offense.
History of Section.
G.L. 1896, ch. 105, § 2; G.L. 1909, ch. 126, § 2; G.L. 1923, ch. 131, § 2; G.L. 1938, ch. 364, § 2; G.L. 1956, § 19-26-4.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-6. - Articles appearing to have been stolen.

§ 19-26-6. Articles appearing to have been stolen.
If it appears to any of the officers specified in § 19-26-5 that any article or articles that have been pawned have been stolen, the officer may give notice in writing to the pawnbroker to hold the article or articles, and the pawnbroker shall thereafter hold the article or articles for sixty (60) days, unless the notice is recalled in writing by the officer giving it. The article or articles shall be subject to inspection of the officer and any person with the officer at all reasonable times, and the article or articles shall be produced on notice or summons before any court or grand jury if the question of the larceny of the article or articles is under investigation. The pawnbroker shall not be liable in damages or otherwise on account of the detention. Any person who willfully hinders, obstructs, or prevents the officer from inspecting the article or articles, or violates any provision of this section, shall be fined not exceeding five hundred dollars ($500), or be imprisoned not exceeding six (6) months.
History of Section.
G.L. 1896, ch. 105, § 16; P.L. 1909, ch. 435, § 5; G.L. 1923, ch. 131, § 16; G.L. 1938, ch. 364, § 16; G.L. 1956, § 19-26-6.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-7. - Dealing in second-hand articles.

§ 19-26-7. Dealing in second-hand articles.
No pawnbroker licensed as provided in § 19-26-2 shall purchase any second-hand articles, or sell, dispose of, or keep for sale, any second-hand articles, unless they have been pawned to him or her and are sold under the provisions of § 19-26-10. Any article sold to the pawnbroker upon the understanding that the article is to be purchased from the pawnbroker by the seller of the article, or by any person acting for the seller, shall be deemed to have been pawned within the meaning of this chapter.
History of Section.
G.L. 1896, ch. 105, § 4; G.L. 1909, ch. 126, § 4; G.L. 1923, ch. 131, § 4; G.L. 1938, ch. 364, § 4; G.L. 1956, § 19-26-7.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-8. - Ascertainment of ownership of articles pawned.

§ 19-26-8. Ascertainment of ownership of articles pawned.
No pawnbroker shall knowingly take from any apprentice, servant, or employee any article or thing offered by the apprentice, servant, or employee in pledge without first ascertaining that the article or thing is the property of the person so offering it for sale. For every violation of this section the pawnbroker shall be fined not exceeding one hundred dollars ($100).
History of Section.
G.L. 1896, ch. 105, § 5; G.L. 1909, ch. 126, § 5; G.L. 1923, ch. 131, § 5; G.L. 1938, ch. 364, § 5; G.L. 1956, § 19-26-8.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-9. - Precious metals — Acts tending to destroy identity of articles pawned.

§ 19-26-9. Precious metals — Acts tending to destroy identity of articles pawned.
No pawnbroker shall buy or receive in pawn, gold, silver, or platinum scraps, gold- or silver-plated scraps, gold or silver solder, gold, silver, or platinum, or any of the same, in combination with any other or others of the same, melted into a button, bar, or any other shape, or any article of gold, silver, platinum, gold plate or silver plate in course of manufacture; nor shall he or she deface, scratch, obliterate, melt, separate, or break into parts any finished or unfinished article received by him or her in pawn, or otherwise in any manner do, cause, or suffer to be done by others, anything that shall destroy or tend to destroy the identity of the article, or render the identification more difficult; and for every violation of any provision of this section the pawnbroker shall be fined not exceeding two thousand dollars ($2,000) or be imprisoned not exceeding one year, and his or her license shall become void.
History of Section.
G.L. 1896, ch. 105, § 6; G.L. 1909, ch. 126, § 6; P.L. 1909, ch. 435, § 2; G.L. 1923, ch. 131, § 6; G.L. 1938, ch. 364, § 6; G.L. 1956, § 19-26-9.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-10. - Sale of unredeemed articles.

§ 19-26-10. Sale of unredeemed articles.
(a)
No pawnbroker shall sell or dispose of any property pawned with him or her within three (3) months after the maturity of the loan on the property if not of a perishable nature; and, if perishable, for at least one month after that date. For the purposes of this section, “perishable” means any item(s) or good(s) subject to rapid decay and/or the value of which will be diminished if not put to the intended use within a short time.
(b)(1)
All such sales shall be made in this state.
(2)
All sales of articles received in pawn by any pawnbroker shall be at public auction to the highest bidder, except that any article less than twenty-five dollars ($25.00) in value may be sold at private sale, and a record of the articles sold and the sale prices shall be made, at the time of the sale, in the book required to be kept by the pawnbroker by § 19-26-5.
(3)
Notice of the sale at public auction shall be published at least six (6) days before the sale in one of the public newspapers, published in English, in the city or town where the business is carried on, or if no newspaper is published in the city or town, then in some newspaper published in the county in which the city or town is located.
(4)
The notice shall specify the time and place at which the sale is to take place and by whom it is to be conducted, and shall contain the same number and description of the articles or goods to be sold as is contained in the memorandum delivered to the pawnor as required by § 19-26-5.
(c)
The borrower, or any person entitled to the property pledged, may, at any time prior to the sale, pay or tender to the pawnbroker the amount loaned and the interest on the loan, together with the proportionate cost of advertising the sale, if any, and the payment or tender shall reinvest the pawnor or the person entitled to the property pledged with the title and right of possession to the property pawned free of the pledge.
History of Section.
G.L. 1896, ch. 105, § 7; G.L. 1909, ch. 126, § 7; P.L. 1909, ch. 435, § 3; G.L. 1923, ch. 131, § 7; G.L. 1938, ch. 364, § 7; G.L. 1956, § 19-26-10; P.L. 1994, ch. 340, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-11. - Proceeds of sales.

§ 19-26-11. Proceeds of sales.
The surplus money, if any, rising from the sale, after deducting the amount of the loan, the interest then due on the loan, and the proportionate expense of advertising, if any, and of selling, if at public auction, shall be paid over by the pawnbroker to the person who would be entitled to redeem the pledge or pawn in case no sale had taken place. If there is surplus money, notice of the sale and of any balance due the pawnor or the person entitled shall be sent by the pawnbroker by registered or certified mail addressed to the pawnor at the place of residence specified in the record book. If any other person claims to be entitled to the money, and his or her place of residence is known to the pawnbroker, the pawnbroker shall also send that person notice, addressed to that person at his or her residence, by registered or certified mail. If the notice or notices are sent, and neither the pawnor nor the other person claims the balances within one year from the time of sending the notice or notices, he or she shall be barred from recovering the money from the pawnbroker. For every violation of this section or § 19-26-10, the pawnbroker shall be fined not exceeding five hundred dollars ($500), and the pawnbroker’s license shall become void.
History of Section.
G.L. 1896, ch. 105, § 7; G.L. 1909, ch. 126, § 7; P.L. 1909, ch. 435, § 3; G.L. 1923, ch. 131, § 7; G.L. 1938, ch. 364, § 7; impl. am. P.L. 1956, ch. 3717, § 1; G.L. 1956, § 19-26-11.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-12. - Acceptance of pawns from incompetents, wastrels, or thieves.

§ 19-26-12. Acceptance of pawns from incompetents, wastrels, or thieves.
(a)
No pawnbroker shall receive in pledge or mortgage or by way of sale, either absolutely or with an agreement to sell back, any goods, note, bill, check, assignment or order for money or other property, or any article, thing, or property of any description, from any person, after receiving from any one of the officers mentioned in § 19-26-5, or the parent or guardian of any minor or person of unsound mind, written notice that the person is a minor or is of unsound mind; or neglects all lawful business; or habitually frequents houses of ill fame, gaming houses, or tippling houses; or by drinking, gaming, idleness, or debauchery of any kind squanders his or her earnings or wastes his or her estate; or is likely to bring self or family to want or to render self or family a public charge; or is a known thief or suspected of thievery.
(b)
No pawnbroker shall knowingly receive any pawn from any person under eighteen (18) years of age, or from any person in a visible state of intoxication from liquors, drugs, or narcotics.
(c)
Any pawnbroker violating any provision of this section shall be fined not exceeding five hundred dollars ($500), and the pawnbroker’s license shall become void.
History of Section.
G.L. 1896, ch. 105, § 8; G.L. 1909, ch. 126, § 8; P.L. 1909, ch. 435, § 4; G.L. 1923, ch. 131, § 8; G.L. 1938, ch. 364, § 8; G.L. 1956, § 19-26-12.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-13. - Search of premises on warrant.

§ 19-26-13. Search of premises on warrant.
Whenever complaint shall be made by any person, on oath to a judge, that any property belonging to that person has been lodged or pledged without his or her consent with any pawnbroker and that the complainant believes the property to be in some house or place within the county where the complaint is made, the judge shall, if satisfied of the reasonableness of that belief, issue a warrant directed to the division of sheriffs, or to either of the town sergeants or town constables in the county, commanding them to search for the property alleged to have been so lodged or pledged and to seize and bring the property before the division of the district court. The warrant shall be issued and served as search warrants are now by law required to be issued and served.
History of Section.
G.L. 1896, ch. 105, § 9; G.L. 1909, ch. 126, § 9; G.L. 1923, ch. 131, § 9; G.L. 1938, ch. 364, § 9; G.L. 1956, § 19-26-13; P.L. 1969, ch. 239, § 33; P.L. 2012, ch. 324, § 49; P.L. 2015, ch. 260, § 28; P.L. 2015, ch. 275, § 28.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-14. - Property seized on warrant.

§ 19-26-14. Property seized on warrant.
The court before which any property seized under the provisions of § 19-26-13 shall be brought shall cause the property to be delivered to the person on whose application the warrant was issued, on the execution of a bond as directed in § 19-26-15; and if the bond is not executed within twenty-four (24) hours, exclusive of Sunday, the court shall cause the property to be returned to the person from whose possession it was taken.
History of Section.
G.L. 1896, ch. 105, § 10; G.L. 1909, ch. 126, § 10; G.L. 1923, ch. 131, § 10; G.L. 1938, ch. 364, § 10; G.L. 1956, § 19-26-14; P.L. 1989, ch. 542, § 27.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-15. - Bond of applicant for search warrant.

§ 19-26-15. Bond of applicant for search warrant.
The bond required to be given under § 19-26-14 shall be in double the value of the property claimed, with any surety as the court shall approve, and shall be given to the person from whose possession the property was taken, with condition that the obligor claiming the property will pay all costs and damages that may be recovered by the obligee in any suit brought within ten (10) days from the date thereof.
History of Section.
G.L. 1896, ch. 105, § 11; G.L. 1909, ch. 126, § 11; G.L. 1923, ch. 131, § 11; G.L. 1938, ch. 364, § 11; G.L. 1956, § 19-26-15.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-16. - Sunday business.

§ 19-26-16. Sunday business.
No license granted under the provisions of this chapter shall authorize any business to be transacted by pawnbrokers on the first day of the week.
History of Section.
G.L. 1896, ch. 105, § 12; G.L. 1909, ch. 126, § 12; G.L. 1923, ch. 131, § 12; G.L. 1938, ch. 364, § 12; G.L. 1956, § 19-26-16.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-17. - Exercise of powers by boards and bureaus.

§ 19-26-17. Exercise of powers by boards and bureaus.
Whenever, by law, the powers, conferred in this chapter upon city or town councils, have been conferred upon boards or bureaus of police commissioners in any city or town, those powers shall continue to be exercised by the boards or bureaus of police commissioners.
History of Section.
G.L. 1909, ch. 126, § 13; G.L. 1923, ch. 131, § 13; G.L. 1938, ch. 364, § 13; G.L. 1956, § 19-26-17.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-18. - Maximum charges.

§ 19-26-18. Maximum charges.
Pawnbrokers are prohibited from charging, taking, or receiving, directly or indirectly, for the use of money lent on personal property, any more than the following rates of interest: for the use of money exceeding fifty dollars ($50.00) in amount for a period not exceeding three (3) months, five percent (5%) per month; for a period of time exceeding three (3) months, two and one-half percent (2.5%) per month; for the use of money exceeding fifty dollars ($50.00) in amount for any period of time, two and one-half percent (2.5%) per month; provided, that when the interest allowed by this section would amount to less than fifty cents (50¢), a minimum charge of fifty cents (50¢) per month shall be allowed under the provisions of this chapter; and, provided, further, that no charge for the keeping or storage of any article taken in pawn or pledge by any pawnbroker, under the provisions of this chapter, other than is provided in this section shall be permitted. Any person violating the provisions of this section shall be fined not exceeding five hundred dollars ($500) and his or her license shall become void.
History of Section.
G.L. 1896, ch. 105, § 14, as enacted by P.L. 1909, ch. 435, § 5; G.L. 1923, ch. 131, § 14; G.L. 1938, ch. 364, § 14; G.L. 1956, § 19-26-18.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-26 - Pawnbrokers › Section 19-26-19. - Safekeeping of pledges.

§ 19-26-19. Safekeeping of pledges.
Every pawnbroker, licensed and operating under the provisions of this chapter, shall provide a place for the safekeeping of the pledges received by him or her, and this provision shall not be construed to be in reduction of any obligation which rests upon the pawnbroker to properly care for the articles pledged. For every violation of this section the pawnbroker shall be fined one hundred dollars ($100).
History of Section.
G.L. 1896, ch. 105, § 15, as enacted by P.L. 1909, ch. 435, § 5; G.L. 1923, ch. 131, § 15; G.L. 1938, ch. 364, § 15; G.L. 1956, § 19-26-19.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-1. - Short title.

§ 19-28.1-1. Short title.
This chapter shall be known and may be cited as the “Rhode Island Franchise Investment 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 19-28.1-2. - Legislative intent.

§ 19-28.1-2. Legislative intent.
The legislature finds that franchisees may suffer substantial losses when the franchisor does not provide complete information regarding the franchisor and the franchise relationship. The legislature also finds that many franchisees lack bargaining power and purchase a franchise when they are unfamiliar with operating a business, the franchised business and with industry practices in franchising. The act seeks to ensure that each offeree receives the information necessary to make an informed decision about the offered franchise. Further, it is the intent of this chapter to prohibit the sale of franchises when there is a likelihood that the franchisor’s promises will not be fulfilled.
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 19-28.1-4. - Scope and applicability.

§ 19-28.1-4. Scope and applicability.
(a)
This act applies to a franchise that is offered or sold in this state.
(b)
A franchise is offered for sale in this state if an offer to sell is made or accepted in this state or an offer to buy is accepted in this state.
(c)
An offer to sell is made in this state if the offer is directed by the offeror into this state from within or from outside this state and is received where it is directed. An offer to sell is accepted in this state if the offeree communicates acceptance to the offeror in this state and acceptance is received where it is directed.
(d)
This act also applies to a franchise offered or sold outside this state if it is offered or sold to a resident of this state and is to be operated in this state.
(e)
An offer to sell is not made in this state solely because the offer appears in a newspaper or other publication of general and regular circulation that had more than two thirds (⅔) of its circulation outside this state during the past twelve (12) months or solely because the offer appears in a broadcast or transmission originating outside 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 19-28.1-5. - Registration of franchises.

§ 19-28.1-5. Registration of franchises.
It is unlawful for any person to offer or sell a franchise unless the offer is registered under this act or is exempt from registration under § 19-28.1-6.
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 19-28.1-7. - Out-of-state exemption.

§ 19-28.1-7. Out-of-state exemption.
An offer or sale of a franchise is exempted from §§ 19-28.1-5, 19-28.1-8, 19-28.1-9, and 19-28.1-13 — 19-28.1-16 if:
(1)
It is offered or sold to a nonresident of this state;
(2)
The franchise business will not be operated wholly or partly in this state;
(3)
The offer or sale does not violate federal law or the law of the foreign jurisdiction; and
(4)
The offeree is not actually present in this state during any offer or sale.
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 19-28.1-8. - Delivery requirements.

§ 19-28.1-8. Delivery requirements.
(a)
It is unlawful to sell any franchise in this state without first providing a copy of a disclosure document reflecting all material changes together with a copy of all proposed agreements relating to the sale of the franchise, unless otherwise provided in subsection (b), to the prospective franchisee, not less than:
(1)
[Deleted by P.L. 2016, ch. 153, § 2 and P.L. 2016, ch. 159, § 2].
(2)
Fourteen (14) calendar days prior to the execution of an agreement or payment of any consideration relating to the franchise relationship.
(b)
The delivery requirements in subsection (a) do not apply to the offer or sale of a franchise that is exempt under § 19-28.1-6(2), (3), (6), or (8).
History of Section.
P.L. 1993, ch. 395, § 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 19-28.1-9. - General registration provisions.

§ 19-28.1-9. General registration provisions.
(a)
A registration application must include the disclosure document, the filing fee, and the consent to service of process. The director may require the filing of audited financial statements examined and reported upon by an independent certified public accountant and prepared in accordance with generally accepted accounting principles and of additional documents or disclosures.
(b)
If the franchisor fails to demonstrate to the director the franchisor’s financial ability to fulfill its initial obligations to franchisees, the director may require an escrow of funds paid by the franchisee or subfranchisor to the franchisor or its affiliate until the franchisor performs its initial obligations and the franchisee has commenced operations. The director may allow alternatives to escrow.
(c)(1)
Except as provided in subsection (c)(2), if no order under § 19-28.1-18 or § 19-28.1-19 is in effect, a franchise registration application is effective on the thirtieth business day after filing of the application of the last amendment to the application or at an earlier time ordered by the director unless the applicant requests postponement of effectiveness of the application or the director has made a good faith effort to communicate why the application does not meet the requirements of this act.
(2)
If the director requires the submission of additional information under § 19-28.1-9, 19-28.1-11 — 19-28.1-13, or 19-28.1-26 before the franchise registration application becomes effective under subsection (c)(1) and if no order under § 19-28.1-18 or § 19-28.1-19 is in effect, the application becomes effective on the fifteenth business day after the additional information is filed with the director, or at any earlier time the director determines, unless the applicant requests postponement of the effectiveness of the application.
(d)
Registration of a franchise under this act expires one hundred twenty (120) calendar days after the end of the franchisor’s fiscal year following the application date, unless the director prescribes a different period by rule or order. A franchise registration may be renewed for one year or a shorter period if designated by the director by filing an application to renew thirty (30) days prior to the expiration of the registration.
(e)
An applicant or registrant may withdraw a franchise registration application, or franchise registration if it files a written request for withdrawal with the director. Withdrawal is effective fifteen (15) business days from the day on which the withdrawal request is filed with the director.
(f)
The director may accept the examination of a registration application by another state administrator as complying with this 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 19-28.1-10. - Negotiated changes permitted.

§ 19-28.1-10. Negotiated changes permitted.
This act does not preclude negotiation of terms and conditions of a franchise before it is sold. After the initial offer, a franchisor need not amend its disclosure document to negotiate with an offeree, or make supplementary disclosure to that offeree, by reason of a change negotiated in the terms and conditions of a franchise.
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 19-28.1-11. - Change in information.

§ 19-28.1-11. Change in information.
The franchisor must promptly amend its franchise registration application to reflect every material change in the information filed with 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 19-28.1-12. - Advertising.

§ 19-28.1-12. Advertising.
No person may publish in this state any advertisement offering to sell a franchise required to be registered under this act unless they maintain the advertising materials for five (5) years, consistent with § 19-28.1-13.
History of Section.
P.L. 1993, ch. 395, § 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 19-28.1-13. - Books and records.

§ 19-28.1-13. Books and records.
Every franchisor offering or selling a franchise in this state must maintain a complete and accurate set of books and records of the offers and sales of franchises. The books and records must include disclosure documents, advertising correspondence with franchisees and prospective franchisees, past and present operations manuals, training records, training manuals, copies of executed agreements, and any due diligence records concerning franchisees. These books and records must be maintained at an office readily accessible to the franchisor for five (5) years. The books and records may be kept on photographic or electronic media but must be printed if the director requests. Nothing in this section limits the investigative authority of 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 19-28.1-14. - Jurisdiction and venue.

§ 19-28.1-14. Jurisdiction and venue.
A provision of a franchise agreement restricting jurisdiction or venue to a forum outside this state or requiring the application of the laws of another state is void with respect to a claim otherwise enforceable under this act.
History of Section.
P.L. 1993, ch. 395, § 2; P.L. 2016, ch. 153, § 2; P.L. 2016, ch. 159, § 2; P.L. 2016, ch. 512, art. 1, § 7.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-28.1 - Franchise Investment Act › Section 19-28.1-15. - Waivers void.

§ 19-28.1-15. Waivers void.
A condition, stipulation, or provision requiring a franchisee to waive compliance with, or relieving a person of, a duty of liability imposed by or a right provided by this act or a rule or order under this act is void. An acknowledgement provision, disclaimer or integration clause, or a provision having a similar effect in a franchise agreement, does not negate or act to remove from judicial review any statement, misrepresentations, or action that would violate this act or a rule or order under this act. This section shall not affect the settlement of disputes, claims or civil lawsuits arising or brought under this 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 19-28.1-16. - Franchisee’s right to associate.

§ 19-28.1-16. Franchisee’s right to associate.
A franchisor shall not restrict a franchisee from associating with other franchisees or from participating in a trade association, or retaliate against a franchisee for engaging in these activities.
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 19-28.1-17. - Fraudulent, deceptive and prohibited practices.

§ 19-28.1-17. Fraudulent, deceptive and prohibited practices.
In connection with the offer or sale of a franchise it is unlawful for a person, directly or indirectly, to:
(1)
Employ a device, scheme, or artifice to defraud;
(2)
Make an untrue statement of material fact or omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading;
(3)
Engage in an act, practice, or course of business that operates or would operate as a fraud or deceit on a person;
(4)
Represent to an offeree of a franchise that the filing of a franchise registration application or the registration of a franchise constitutes a finding by the director that a document filed under the act is true, complete, and not misleading or that the director has passed upon the merits of the franchise;
(5)
Misrepresent that a franchise is registered or exempted from registration under this act;
(6)
Violate an order of the director after the person receives notice that the order was issued;
(7)
Fail to notify the director of a material change in the information required in a document required to be filed by this act or a rule or order under this act; or
(8)
Omit to state a material fact, or make or cause to be made an untrue statement of a material fact, in any application, notice, or report filed with the director under this 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 19-28.1-19. - Summary action.

§ 19-28.1-19. Summary action.
The director upon a finding that it is in the public interest may issue an order summarily under § 19-28.1-18.
History of Section.
P.L. 1993, ch. 395, § 2.