reglab/statecodes huggingface dataset:
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 30 - Commercial Licensing › Subchapter 40 - Certified Constables › Part 1 - Certified Constables › Section 230-RICR-30-40-1.4 - Definitions

Current through June 14, 2024
A. "Badge" means a metal emblem that
				  indicates licensure by the Rhode Island Certified Constables' Board.
B. "Board" means the Certified Constables'
				  Board.
C. "Certified constable(s)"
				  or "Licensee" means a certified constable applicant whose license has been
				  approved by the Board pursuant to the Act and these Regulations.
D. "Criminal history record" or "CHR" means
				  the criminal history record provided by Certified Constable applicant pursuant
				  to R.I. Gen. Laws §
										9-5-10.1(b)(1)(ii).
E. "Conflict of Interest" means a situation
				  in which a Certified Constable is in a position to derive personal benefit from
				  actions or decisions made in their official capacity.
F. "Continuing education" means a course of
				  post-licensure training to update and/or increase knowledge of and competence
				  in Certified Constables' work, which has been approved and recommended by the
				  Board after consideration of its content and other relevant details that are
				  submitted on a form provided by the Department.
G. "Department" or "Division" means the
				  Department of Business Regulation and/or the Division of Commercial Licensing
				  and Regulation.
H. "Good standing"
				  means there are no pending disciplinary complaints with the Department against
				  the Certified Constable and the Department has not taken any disciplinary
				  action on the Certified Constable's Certification within the five (5) years
				  preceding the filing of the Certified Constable's application to be a Training
				  Constable.
I. "License" or
				  "Identification card" means the Department-issued photo identification card
				  given to an approved Certified Constable applicant.
J. "Private investigator" means a freelance
				  detective who carries out investigations on behalf of private clients and is
				  licensed pursuant to R.I. Gen. Laws §
										5-5-1
et seq.
, the
				  Private Detective Act, and the applicable local licensing authority.
K. "Training constable" means a Certified
				  Constable that has been approved by the Board to train Certified Constable
				  applicants and who has been a Certified Constable in good standing for a
				  minimum of ten (10) years.
L.
				  "Trainee identification" means a credential supplied by the Department to a
				  Certified Constable applicant who has been approved for training by a Training
				  Constable pursuant to §
										1.5(E)   of this Part.
M. "Writ" means a form of written command in
				  the name of a court of the State of Rhode Island to act, or abstain from
				  acting, in some way and which meets the requirements of the Act.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 30 - Commercial Licensing › Subchapter 40 - Certified Constables › Part 1 - Certified Constables › Section 230-RICR-30-40-1.5 - Licensing

Current through June 14, 2024
A. A Certified Constable license shall be
				  effective for a period of two (2) years or until such approval is withdrawn by
				  the Department, pursuant to R.I. Gen. Laws §
										9-5-10.1(a).
B. Pursuant to R.I. Gen. Laws §
										9-5-10.1, all Certified Constable
				  applicants shall be at least twenty-one (21) years of age and shall submit the
				  following information to the Department:
1. A
				  completed Certified Constable application on form(s) provided by the
				  Department;
2. The applicant's
				  current resume;
3. The applicant's
				  CHR;
4. Two (2) letters of
				  recommendation from attorneys licensed to practice law in Rhode Island each
				  including at a minimum a statement that the licensed attorney intends to engage
				  the applicant in the service of process in Rhode Island;
5. A letter from a Training Constable who has
				  been licensed and in good standing for a minimum of ten (10) years stating he
				  or she will train the applicant, or in the alternative a letter from the
				  applicant stating he or she has been unable to independently secure a Training
				  Constable despite his or her best efforts;
6. Indication of whether applicant intends to
				  perform civil arrests in connection with §
											1.11   of this Part;
7. Two (2) passport style
				  photographs;
8. Proof of completion
				  of one (1) of the following:
a. Sixty (60)
				  hours of earned credit from an accredited college, university, or
				  institution;
b. Four (4) years of
				  honorable military service; or
c.
				  Twenty (20) years of honorable service with a local, State, or Federal law
				  enforcement agency;
9.
				  Proof of United States citizenship;
10. Proof of possession of a valid motor
				  vehicle operator's license;
11.
				  Proof of successful completion of unlawful drug use screening;
12. Proof of successful completion of
				  psychological testing performed by a professional licensed to administer
				  psychological testing; and
13.
				  Proof of the applicant's training exemption qualifications pursuant to
				  §
											10(D)(6)   of this Part if the applicant intends to request exemption from
				  the training requirement outlined in §
											1.10(D)(1)   of this Part.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 30 - Commercial Licensing › Subchapter 40 - Certified Constables › Part 1 - Certified Constables › Section 230-RICR-30-40-1.6 - Renewals

Current through June 14, 2024
A. Certified Constable renewal applications
				  shall be submitted on forms provided by the Department and must contain all the
				  information the Department requires, which pursuant to R.I. Gen. Laws §
										9-5-10.4 includes but is not
				  limited to the following:
1. The applicant's
				  CHR, pursuant to R.I. Gen. Laws §
											9-5-10.1(b)(1)(ii);
2. Proof of ten hours of approved continuing
				  education credit hours within the previous twenty-four (24) months in
				  compliance with §
											1.12(C)   of this Part;
3. Proof of bond continuation or a new bond
				  in the amount of ten thousand dollars ($10,000.00) in compliance with R.I. Gen.
				  Laws §
											9-5-10.2;
4. Indication of whether applicant intends to
				  perform civil arrests in connection with §
											1.11   of this Part; and
5. A check or money order made payable to the
				  "Rhode Island General Treasurer" in the amount of four hundred dollars
				  ($400.00).
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 30 - Commercial Licensing › Subchapter 40 - Certified Constables › Part 1 - Certified Constables › Section 230-RICR-30-40-1.7 - Licenses and Badges

Current through June 14, 2024
A. A Certified
				  Constable must always clearly and visibly display his or her license while on
				  duty and must verbally identify themselves as a Certified Constable to all
				  individuals/entities being served or requesting professional credentials,
				  unless such display or identification would put the Certified Constable in
				  physical danger. A Certified Constable's use of his or her license shall be
				  limited only to the matter for which he or she has been hired as a Certified
				  Constable.
B. All lost and/or
				  stolen Certified Constable licenses must be reported to the Department within
				  twenty-four (24) hours of knowledge of the loss along with a written statement
				  explaining the circumstances of the loss.
1.
				  If loss of the license was occasioned by actual or suspected theft, the
				  Certified Constable to whom the license belonged must also report the theft to
				  the appropriate police department and provide a copy of the subsequent police
				  report to the Department.
2. When
				  any license of a Certified Constable has been lost and/or stolen, the Certified
				  Constable to whom the license belonged must complete an affidavit as to its
				  loss and/or theft on a form provided by the Department.
3. Upon review of the facts and circumstances
				  of the loss, including the Certified Constable's written statement, affidavit,
				  and/or relevant police report(s), the Department may issue a replacement
				  license.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 30 - Commercial Licensing › Subchapter 40 - Certified Constables › Part 1 - Certified Constables › Section 230-RICR-30-40-1.8 - Conduct

Current through June 14, 2024
A. Professional Standards. All Certified
				  Constables in the execution of their duties shall:
1. Be competent to perform his or her duties
				  and to assume the responsibilities of his or her position, including but not
				  limited to knowledge of any applicable statutes, Rules and/or
				  Regulations;
2. Be tactful in the
				  performance of his or her duties and exercise patience and discretion even
				  under difficult circumstances;
3.
				  Be courteous in the answering of any nonlegal questions, while avoiding
				  argument and unprofessional conversation;
4. Treat everyone they encounter with dignity
				  and respect;
5. Refrain from
				  conduct involving dishonesty, fraud, deceit, misrepresentation or that reflects
				  adversely on the profession;
6.
				  Abstain from the knowing performance of services involving an actual or
				  potential conflict of interest; and
7. Dress in a professional manner or as
				  appropriate to effectuate service.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 30 - Commercial Licensing › Subchapter 40 - Certified Constables › Part 1 - Certified Constables › Section 230-RICR-30-40-1.9 - Service, Forms and Returns

Current through June 14, 2024
A. All Certified
				  Constables may effectuate service between the hours of six (6:00) A.M. and ten
				  (10:00) P.M. except for extraordinary circumstances that necessitate service
				  outside those times.
B. Pursuant to
				  R.I. Gen. Laws §
										9-5-24, no civil process whatsoever
				  shall be served on Sunday, but every such service shall be utterly
				  void.
C. Pursuant to the Rules of
				  any and all Rhode Island courts, personal service of a summons and its
				  associated documents, or of other documents not inconsistent with the law, may
				  include but is not limited to leaving the aforementioned document(s) at the
				  person's dwelling house or usual place of abode with someone of suitable age
				  and discretion residing there or therein.
D. All Certified Constables are required to
				  provide such information as is mandated by law whether or not the form on which
				  to document his or her activity requests it, and such information includes but
				  is not limited to:
1. The date and time of
				  the service;
2. For a nine (9) day
				  trespass and ejectment, the date and time of the posting pursuant to R.I. Gen.
				  Laws §
											34-18-10;
3. The name of the individual that accepted
				  service and his or her printed and signed name if the individual is accepting
				  service for a government agency; and
4. The details and circumstance of both a
				  tenant's eviction and the method by which the Certified Constable took
				  possession of the subject property.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 30 - Commercial Licensing › Subchapter 40 - Certified Constables › Part 1 - Certified Constables › Section 230-RICR-30-40-1.10 - Eviction Parameters

Current through June 14, 2024
A. Upon issuance of
				  any execution in a landlord-tenant action pursuant to R.I. Gen. Laws
				  §§
										34-18-1
et seq.
,
				  34-18.1-1
et seq.
, or 31-44-2, the Certified Constable shall:
1. Personally serve the subject of the
				  execution, if applicable;
2.
				  Provide a copy of the execution for the mover and the evictee, retain a copy
				  for the Certified Constable's own records, and return the original to the court
				  in accordance with the applicable statute(s) and court rule(s);
3. Coordinate with the individual hired to
				  change the locks to be present at the property that is the subject of the
				  eviction when the Certified Constable is present to execute the writ;
4. Contact the local police if the Certified
				  Constable has reason to believe that there will be substantial controversy or
				  arguments or if the Certified Constable becomes aware of substantial
				  controversy or arguments, and in such circumstances the Certified Constable
				  shall not enter the subject property until the local police are
				  present;
5. Take pictures of all
				  rooms in the subject property before any contents are disturbed and take
				  pictures of all items that cannot go into storage after removal from the
				  subject property;
6. Allow evictees
				  to take a reasonable amount of immediately necessary personal belongings
				  including but not limited to clothing, medication, children's toys, service
				  animals, pets, checkbooks and bills of any kind; and
7. Take control and possession of the subject
				  property before locking out any evictee(s).
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 30 - Commercial Licensing › Subchapter 40 - Certified Constables › Part 1 - Certified Constables › Section 230-RICR-30-40-1.11 - Civil Arrests

Current through June 14, 2024
A. Any Certified
				  Constable or Certified Constable applicant seeking to effect civil arrests
				  shall provide such information on his or her application in accordance with
				  §
										1.5(B)(6)   of this Part or on his or her renewal application in accordance
				  with §
										1.6(A)(4)   of this Part, and shall provide a minimum notice to the
				  Department of at least ten (10) days if the Certified Constable or Certified
				  Constable applicant is amending his or her response to the most recent original
				  or renewal application.
B. When
				  executing a writ of civil arrest, a Certified Constable shall endeavor to
				  arrange a meeting with the subject of the civil arrest at the applicable court,
				  whereupon the Certified Constable shall immediately request the civil arrest be
				  recognized and heard by the appropriate judicial authority.
C. When it is not reasonable to arrange a
				  courthouse meeting with the subject of a civil arrest, the Certified Constable
				  effectuating the civil arrest shall make every attempt to effectuate the civil
				  arrest with the assistance of another Certified Constable.
D. Pursuant to R.I. Gen. Laws §
										10-10-6, a Certified Constable
				  shall not attempt to or effectuate a civil arrest for a person who is in active
				  military service or who has already been arrested and/or released on the same
				  attachment.
E. Pursuant to R.I.
				  Gen. Laws §§
										9-5-25 and
				  10-10-5, a Certified Constable
				  shall not effectuate a civil arrest on a person entitled to vote on Election
				  Day, nor shall a Certified Constable effectuate a civil arrest on such a person
				  on the day preceding or subsequent to Election Day.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 30 - Commercial Licensing › Subchapter 40 - Certified Constables › Part 1 - Certified Constables › Section 230-RICR-30-40-1.12 - Duty to Update Contact Information; Records Retention

Current through June 14, 2024
A. Change of Address/Application Information.
				  Written notice shall be given to the Department by each Licensee within ten
				  (10) days of any change in mailing address, email address, or any other change
				  in any information reported on the most recent application, including
				  employees.
B. Records Retention
1. Any records of or relating to a Certified
				  Constable's actions described above in §§
											1.10,  1.11  and  1.12   of this
				  Part including but not limited to photographs, reports, police requests and/or
				  moving company receipts but excluding any document returned to the court and
				  maintained in the court's Electronic Filing System ("EFS"), shall be maintained
				  by the licensee for a minimum period of two (2) years from the date of
				  occurrence.
2. Proof of continuing
				  education attendance shall be maintained by the licensee for a minimum period
				  of two (2) years from the date of submission to the Department pursuant to
				  §§
											1.6(A)  and  1.13   of this Part.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 30 - Commercial Licensing › Subchapter 40 - Certified Constables › Part 1 - Certified Constables › Section 230-RICR-30-40-1.13 - Training Constables

Current through June 14, 2024
A. Pursuant to R.I.
				  Gen. Laws §
										9-5-10.1(3)(i),
				  any Certified Constable in good standing for a minimum of ten (10) years and
				  who is also approved by the Board for training activity in all areas of
				  full-time service may act as a Training Constable for a Certified Constable
				  applicant.
1. Any Training Constable may be
				  randomly selected by the Department for a Certified Constable applicant who
				  certifies that he or she is unable to independently secure a Training Constable
				  in accordance with §
											1.5(B)(5)   of this Part.
2. A Training Constable may not train more
				  than one (1) Certified Constable applicant at any given time.
3. A Training Constable shall be compensated
				  by the Certified Constable applicant in the amount of one thousand five hundred
				  dollars ($1,500.00) for his/her/their training pursuant to §
											1.5(D)(1)   of
				  this Part.
4. The Training
				  Constable shall comply with the requirements in §§
											1.5(D)(4) and (5)
				    of this Part and submit the required documentation to the Department and
				  failure to submit the required documentation to the Department shall render the
				  application incomplete.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 30 - Commercial Licensing › Subchapter 40 - Certified Constables › Part 1 - Certified Constables › Section 230-RICR-30-40-1.14 - Continuing Education

Current through June 14, 2024
A. Continuing
				  Education Course Approval
1. Continuing
				  education courses must meet the following qualifications:
a. Courses must consist of at least one (1)
				  credit hour of instruction;
b.
				  Courses must substantially relate to the duties of a Certified Constable; and
c. Courses must be presented by a
				  qualified instructor(s).
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 30 - Commercial Licensing › Subchapter 40 - Certified Constables › Part 1 - Certified Constables › Section 230-RICR-30-40-1.15 - Enforcement and Penalties

Current through June 14, 2024
A. Any violation of
				  the Act or these Regulations may be subject to enforcement by the Department as
				  an administrative violation and may be grounds for license suspension,
				  revocation or denial.
B. After
				  receiving a complaint regarding a Certified Constable or on its own initiative,
				  but before formal action is taken on any particular license, written notice
				  must be sent to the Certified Constable whose conduct is under review and that
				  Certified Constable shall be provided ten (10) calendar days to respond to the
				  substance of the given allegation unless the Department takes action pursuant
				  to R.I. Gen Laws §
										42-35-14(c).
C. Any action taken by the Department as to
				  any licensee pursuant to §
										1.14   of this Part will follow the procedures in
				  R.I. Gen. Law §
										42-35-1
et seq
., the Administrative
				  Procedures Act ("APA"), and Part 10-00-2 of this Title, Rules of Procedure for
				  Administrative Hearings (the "Rules of Procedure").
D. Criminal History
1. In accordance with R.I. Gen. Laws §
											9-5-10.1(b)(1)(ii),
				  any evaluation of a Certified Constable applicant's or licensee's criminal
				  history record shall conform to the requirements of R.I. Gen. Laws §
											28-5.1-14 (the "Fair Chance
				  Act").
2. To the extent consistent
				  with the Fair Chance Act, any licensee sentenced to probation by a court and
				  currently serving on probation as the result of the disposition of criminal
				  charges may not simultaneously hold a Certified Constables' license. His or her
				  license shall be suspended for the same amount of time as he or she is on
				  probation, and he or she can petition the Department for his or her license
				  reinstatement once the applicable period of probation has
				  concluded.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 30 - Commercial Licensing › Subchapter 40 - Certified Constables › Part 1 - Certified Constables › Section 230-RICR-30-40-1.16 - Severability

Current through June 14, 2024
If any provision of these Regulations, or the application
					 thereof to any person or circumstance, is held to be invalid, such invalidity
					 shall not affect other provisions or application of these Regulations which can
					 be given effect without the invalid provision or application, and to this end
					 the provisions are declared to be severable.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 1 - Bonds of Officers and Employees (230-RICR-40-05-1) › Section 230-RICR-40-05-1.1 - Authority

Current through June 14, 2024
This regulation is promulgated pursuant to the authority
					 granted in R.I. Gen. Laws §
										19-2-19.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 1 - Bonds of Officers and Employees (230-RICR-40-05-1) › Section 230-RICR-40-05-1.2 - Purpose

Current through June 14, 2024
The purpose of this regulation is to set forth amounts for
					 fidelity bond coverage for officers and employees of regulated institutions to
					 carry out the provisions of R.I. Gen Laws §
										19-2-19 entitled "Bonds of
					 officers and employees - Supervision by director". The actions and information
					 required by this regulation are hereby declared to be necessary and appropriate
					 in the public interest.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 1 - Bonds of Officers and Employees (230-RICR-40-05-1) › Section 230-RICR-40-05-1.3 - Severability

Current through June 14, 2024
If any provision of this regulation or the application
					 thereof to any person or circumstances is held invalid or unconstitutional, the
					 invalidity or unconstitutionality shall not affect other provisions or
					 applications of this regulation which can be given effect without the invalid
					 or unconstitutional provision or application, and to this end the provisions of
					 this regulation are severable.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 1 - Bonds of Officers and Employees (230-RICR-40-05-1) › Section 230-RICR-40-05-1.4 - Definitions

Current through June 14, 2024
Unless otherwise provided by this regulation or unless the
					 context clearly requires otherwise, terms used in this regulation shall have
					 the same meaning as the terms as defined in R.I. Gen. Laws Title
					 19.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 1 - Bonds of Officers and Employees (230-RICR-40-05-1) › Section 230-RICR-40-05-1.5 - Provisions

Current through June 14, 2024
A. It is the duty of the board of directors
				  of each regulated institution to require bonds in such form and amount to
				  insure the regulated institution is adequately protected from loss in the case
				  of officers or employees failing to honestly discharge their duties.
B. The aggregate amount and form of coverage
				  shall be determined by the board of directors in a written policy adopted by
				  the board of directors. The policy should be premised upon a consideration of
				  such factors as the adequacy of the current internal control system, the
				  internal auditing safeguards employed, the number of employees, the amount of
				  deposits, the amount of assets under management and the amount of cash and
				  securities normally held by the regulated institution. However, the board of
				  directors shall require coverage in such form and in such amount as to meet any
				  requirements of the regulated institution's federal deposit insurer. The board
				  of directors of financial institutions which are not federally insured because
				  they do not accept deposits shall require coverage in such form as would be
				  required by the financial institution's federal deposit insurer, if such
				  institutions were federally insured. The minimum amount of the bond for
				  financial institutions which are not federally insured shall be set by the
				  board of directors and shall be based upon the greater of total assets or total
				  assets under management as indicated in the following table:
Total Assets
Minimum Bond
$0 to $50,000,000
$100,000 plus $50,000 for each million or fraction
								over $1,000,000
$50,000,001 to $300,000,000
$2,550,000 plus $10,000 for each million or
								fraction over $50,000,000
Over $300,000,000
$5,000,000
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 2 - Applications of Regulated Institutions (230-RICR-40-05-2) › Section 230-RICR-40-05-2.1 - Authority

Current through June 14, 2024
This regulation is promulgated pursuant to the authority
					 granted in R.I. Gen. Laws §
										19-1-3.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 2 - Applications of Regulated Institutions (230-RICR-40-05-2) › Section 230-RICR-40-05-2.2 - Purpose

Current through June 14, 2024
The purpose of this regulation is to set forth fees for
					 applications filed by regulated institutions, financial institutions and credit
					 unions with the Director of the Department of Business Regulation to carry out
					 the provisions of R.I. Gen. Laws §
										19-1-3 entitled "Applications -
					 General." The actions and information required by this regulation are hereby
					 declared to be necessary and appropriate in the public
					 interest.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 2 - Applications of Regulated Institutions (230-RICR-40-05-2) › Section 230-RICR-40-05-2.3 - Severability

Current through June 14, 2024
If any provision of this regulation or the application
					 thereof to any person or circumstances is held invalid or unconstitutional, the
					 invalidity or unconstitutionality shall not affect other provisions or
					 applications of this regulation which can be given effect without the invalid
					 or unconstitutional provision or application, and to this end the provisions of
					 this regulation are severable.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 2 - Applications of Regulated Institutions (230-RICR-40-05-2) › Section 230-RICR-40-05-2.4 - Definitions

Current through June 14, 2024
Unless otherwise provided by this regulation or unless the
					 context clearly requires otherwise, terms used in this regulation shall have
					 the same meaning as the terms as defined in R.I. Gen. Laws Title
					 19.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 2 - Applications of Regulated Institutions (230-RICR-40-05-2) › Section 230-RICR-40-05-2.5 - Filing Fees

Current through June 14, 2024
Each regulated institution, financial institution and
					 credit union which files an application with the Director shall pay an
					 application fee, equal in amount to the total cost of the salary and benefits,
					 calculated on an hourly basis, of the person(s) employed by the Division of
					 Banking having actually participated in the review of the application. The
					 Division of Banking shall submit a bill to the applicant with the decision on
					 the application, detailing the application fee. The detailed breakdown of the
					 bill to the applicant shall include but not be limited to the total hours of
					 review time, the name(s) of the person(s) reviewing the application and the
					 charge per hour. The maximum number of hours per type of application which
					 shall be included in the bill to the applicant will be established by the
					 Division of Banking at a public hearing pursuant to R.I. Gen. Laws §
										19-1-3.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 2 - Applications of Regulated Institutions (230-RICR-40-05-2) › Section 230-RICR-40-05-2.6 - Applicability

Current through June 14, 2024
A. Application fees shall only apply in those
				  instances in which an application for approval is required by R.I. Gen. Laws
				  Title 19. For certain types of transactions, approvals may be granted without
				  the need for the filing of an application.
B. Applications and associated fees are
				  required for approvals by the Director, including but not limited to the
				  following:
1. Agreements to Form;
2. Amendments to Agreements to
				  Form;
3. Establishment of
				  branches;
4. Relocations of
				  branches;
5. Mergers of financial
				  institutions;
6. Interstate
				  banking, including but not limited to interstate acquisitions, mergers, and
				  purchase and assumptions;
7.
				  Interstate branching; and
8.
				  Changes in control.
9. Other
				  approvals which, in the discretion of the Director, require the filing of an
				  application
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 3 - Credit Union Conversions (230-RICR-40-05-3) › Section 230-RICR-40-05-3.1 - Authority

Current through June 14, 2024
A. This regulation ("Regulation") is
				  promulgated pursuant to the authority granted to the Rhode Island Department of
				  Business Regulation ("Department") by the Credit Union Conversion Act of 2001,
				  R. I. Gen. Laws §§
										19-5.1-3(g),
				  42-14-17, and
				  42-35-1 et seq.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 3 - Credit Union Conversions (230-RICR-40-05-3) › Section 230-RICR-40-05-3.2 - Purpose

Current through June 14, 2024
A. The purpose of this Regulation is to set
				  forth procedures to carry out the provisions of R. I. Gen. Laws §
										19-5.1-1 et seq. entitled Credit
				  Union Conversion Act of 2001 (the "Act") and to protect and preserve the
				  interests and rights of members of a converting Credit Union. This Regulation
				  establishes procedures, requirements, and options for the conversion of Credit
				  Unions into other forms of Financial Institutions under the provisions of the
				  Act or financial services entities chartered under the laws of the United
				  States. The actions and information required by this Regulation are hereby
				  declared to be necessary and appropriate to the public interest. Nothing
				  contained in this Regulation shall limit the ability and authority of the
				  Director to consider other information in determining whether or not to approve
				  an application of a Credit Union to convert into another form of Financial
				  Institution.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 3 - Credit Union Conversions (230-RICR-40-05-3) › Section 230-RICR-40-05-3.3 - Definitions

Current through June 14, 2024
A. Unless otherwise provided by this
				  Regulation or unless the context clearly requires otherwise, terms used in this
				  Regulation shall have the same meaning as the terms as defined in R.I. Gen.
				  Laws §§
										19-1-1 and
				  19-5-1. All terms defined in R.I.
				  Gen. Laws §§
										19-1-1 and
				  19-5-1 are capitalized in this
				  Regulation
1. "Director" means the Director
				  of the Department of Business Regulation or his or her designee
2. "Eligible Member", for purposes of this
				  Regulation, means a member as defined in the Credit Union's by-laws and in the
				  plan of conversion, as of a date designated in said plan of conversion which in
				  no event shall be less than three (3) months prior to the date of adoption of
				  said plan of conversion by the board of directors of the Credit
				  Union.
3. "Resulting Financial
				  Institution", for purposes of this regulation, means the institution into which
				  the converting Credit Union converts as described in the plan of
				  conversion.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 3 - Credit Union Conversions (230-RICR-40-05-3) › Section 230-RICR-40-05-3.4 - Provisions

Current through June 14, 2024
A. Credit Union Conversion into Mutual Form
				  of Financial Institution. A Credit Union chartered under the Rhode Island
				  General Laws may convert into a mutual form of Financial Institution or
				  financial services entity chartered under the laws of the United States upon
				  satisfaction of the following conditions:
1. A
				  plan of conversion is approved and adopted by at least a two-thirds (2/3) vote
				  of the board of directors of the Credit Union;
2. If applicable, demonstration of compliance
				  with R.I. Gen. Laws §
											19-2-1 et seq.;
3. The plan of conversion and application for
				  conversion is filed with the Director prior to the membership meeting and vote
				  of the eligible members and the Director has given written approval of the
				  proposed conversion;
4. The plan
				  of conversion is approved by a majority vote of those Eligible Members pursuant
				  to R.I. Gen. Laws §
											19-5-7 of the Credit Union present
				  in person or by proxy at a meeting duly called by the board of directors of the
				  converting Credit Union;
5. The
				  converting Credit Union shall file an application for approval of the plan of
				  conversion in the form required by the Director and shall contain:
a. a copy of the minutes of the meeting of
				  the board of directors approving and adopting the plan of conversion with the
				  secretary's attestation;
b. all
				  other application information and materials required to be submitted pursuant
				  to this Regulation including, without limitation:
(1) a three (3) year business plan for the
				  Resulting Financial Institution;
(2) the Credit Union's most recent financial
				  statements;
(3) all information and
				  materials required by or sent to the National Credit Union
				  Administration;
(4) all information
				  and materials required by or sent to the Federal Deposit Insurance Corporation
				  or other federal banking agency;
(5) all information and materials sent to the
				  members of the converting Credit Union; and,
(6) any other information which the Director
				  may require;
6. All necessary regulatory approvals have
				  been obtained and all conditions imposed by the Director in connection with the
				  granting of the approvals have been satisfied; and,
7. The deposits of any Resulting Financial
				  Institution shall remain federally insured
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 3 - Credit Union Conversions (230-RICR-40-05-3) › Section 230-RICR-40-05-3.5 - Severability

Current through June 14, 2024
A. If any provision of this regulation or the
				  application thereof to any person or circumstances is held invalid or
				  unconstitutional, the invalidity or unconstitutionality shall not affect other
				  provisions or applications of this regulation which can be given effect without
				  the invalid or unconstitutional provision or application, an to this end the
				  provisions of this regulation are severable.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 4 - Credit Union General Provisions (230-RICR-40-05-4) › Section 230-RICR-40-05-4.1 - Authority

Current through June 14, 2024
A. This regulation is promulgated pursuant to
				  the authority granted in Chapter 5 of Title 19 of the General Laws of Rhode
				  Island.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 4 - Credit Union General Provisions (230-RICR-40-05-4) › Section 230-RICR-40-05-4.2 - Purpose

Current through June 14, 2024
A. The purpose of this regulation is to
				  provide for: credit union by-law content and amendment procedures pursuant to
				  R.I. Gen. Laws §
										19-5-4; a definition for qualified
				  individuals for credit union supervisory committee membership pursuant to R.I.
				  Gen. Laws §
										19-5-9; requirements of loans to
				  credit union officers and directors pursuant to R.I. Gen. Laws §
										19-5-17; and, destruction of
				  records programs for credit unions pursuant to R.I. Gen. Laws §
										19-5-21. The actions and
				  information required by this regulation are hereby declared to be necessary and
				  appropriate in the public interest.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 4 - Credit Union General Provisions (230-RICR-40-05-4) › Section 230-RICR-40-05-4.3 - Severability

Current through June 14, 2024
A. If any provision of this regulation or the
				  application thereof to any person or circumstances is held invalid or
				  unconstitutional, the invalidity or unconstitutionality shall not affect other
				  provisions or applications of this regulation which can be given effect without
				  the invalid or unconstitutional provision or application, and to this end the
				  provisions of this regulation are severable.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 05 - Financial Institutions and Credit Unions › Part 4 - Credit Union General Provisions (230-RICR-40-05-4) › Section 230-RICR-40-05-4.4 - Definitions

Current through June 14, 2024
A. Unless otherwise provided by this
				  regulation or unless the context clearly requires otherwise, terms used in this
				  regulation shall have the same meaning as the terms as defined in Title
				  19.
B. "Immediate family member,"
				  for purposes of this regulation, means a spouse, father, mother, brother,
				  sister, father-in-law, mother-in-law or a person who lives in the same
				  household as the member.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 10 - Lending › Part 1 - Derivative Transactions in Lending Limits (230-RICR-40-10-1) › Section 230-RICR-40-10-1.1 - Authority

Current through June 14, 2024
This Regulation ("Regulation") is promulgated pursuant to
					 the authority granted to the Department of Business Regulation ("Department")
					 by R.I. Gen. Laws Title 19, generally, and R.I. Gen. Laws §§
										19-3-3(b) and
					 19-4-16,
					 specifically.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 10 - Lending › Part 1 - Derivative Transactions in Lending Limits (230-RICR-40-10-1) › Section 230-RICR-40-10-1.2 - Purpose

Current through June 14, 2024
The purpose of this Regulation is to clarify that any Rhode
					 Island state-chartered Financial Institution that engages in Derivative
					 Transactions is required to take into consideration Credit Exposure to
					 Derivative Transactions with respect to the lending limits in R.I. Gen. Laws
					 §
										19-3-3 and any other relevant
					 applicable lending limits in R.I. Gen. Laws Title 19 or Federal law.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 10 - Lending › Part 1 - Derivative Transactions in Lending Limits (230-RICR-40-10-1) › Section 230-RICR-40-10-1.3 - Severability

Current through June 14, 2024
If any provision of this Regulation or the application
					 thereof to any Person or circumstance is held invalid or unconstitutional, the
					 invalidity or unconstitutionality shall not affect other provisions or
					 applications of this Regulation which can be given effect without the invalid
					 or unconstitutional provision or application, and to this end the provisions of
					 this Regulation are severable.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 10 - Lending › Part 1 - Derivative Transactions in Lending Limits (230-RICR-40-10-1) › Section 230-RICR-40-10-1.4 - Definitions

Current through June 14, 2024
A. Unless otherwise provided by this
				  Regulation or unless the context clearly requires otherwise, terms used in this
				  Regulation shall have the same meaning as the terms defined in R.I. Gen. Laws
				  §
										19-1-1 or in any other relevant
				  provision of R.I. Gen. Laws Title 19. All definitions herein may be superseded
				  by applicable amendments by the Rhode Island Financial Institution's primary
				  federal regulatory authority and any such amendment shall apply, as relevant
				  and applicable, in that specific context.
1.
				  "Credit exposure" (to a counterparty in connection with a Derivative
				  Transaction) shall be determined based on an amount that the Financial
				  Institution reasonably determines under the terms of the derivative or
				  otherwise would be its loss were the counterparty to default on that date,
				  taking into account any netting and collateral arrangements and any guarantees
				  or other credit enhancements; provided, that the Financial Institution may
				  elect to determine credit exposure on the basis of such other method of
				  determining credit exposure as may be permitted by the Financial Institution's
				  primary federal regulatory authority.
2. "Director" means the Director of the
				  Department or his or her designee
3. "Derivative transaction" shall include any
				  transaction that is a contract, agreement, swap, warrant, note, or option that
				  is based, in whole or in part, on the value of, any interest in, or any
				  quantitative measure or the occurrence of any event relating to, one or more
				  commodities, securities, currencies, interest or other rates, indices, or other
				  assets.
4. "Financial institution"
				  means any entity, other than a credit union, duly organized under the laws of
				  this state which has the statutory authority to accept money on deposit
				  pursuant to title 19, including an entity which is prohibited from accepting
				  deposits by its own by-laws or agreement to form; the term includes, but is not
				  limited to banks, trust companies, savings banks, loan and investment banks and
				  savings and loan associations.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 10 - Lending › Part 1 - Derivative Transactions in Lending Limits (230-RICR-40-10-1) › Section 230-RICR-40-10-1.5 - Criteria for Engaging in Derivative Transactions

Current through June 14, 2024
A. Notice
1. Financial Institutions with no prior
				  Derivative Transaction experience as of December 31, 2012 seeking to engage in
				  Derivative Transactions for the first time after the effective date of this
				  Regulation shall provide the Department written notice of that intention at
				  least thirty (30) calendar days in advance of any binding contractual agreement
				  and provide documentation that said Financial Institution is permitted to
				  engage in Derivative Transactions pursuant to the definition of "Eligible
				  Contract Participant" in 7
				  U.S.C. §
												1(a)(18).
2. Financial Institutions with
				  prior experience in Derivative Transactions shall provide notice of said fact
				  and include the approximate date that the Financial Institution began engaging
				  in Derivative Transactions. Said Financial Institution shall immediately
				  conduct the relevant Credit Exposure impact and analysis for the Department's
				  review during its next examination.
3. Should any Financial Institution's lending
				  limit be exceeded by its participation in Derivative Transactions, said
				  Financial Institution shall immediately notify the Department in writing and
				  prepare an analysis and corrective action remedying said issue.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 10 - Lending › Part 1 - Derivative Transactions in Lending Limits (230-RICR-40-10-1) › Section 230-RICR-40-10-1.6 - Criteria for Evaluating Credit Exposure

Current through June 14, 2024
A.
				  Rhode Island Financial Institutions shall comply with all requirements set
				  forth in the Office of Comptroller of Currency's ("OCC") Final Interim Rule on
				  Lending Limits 12 C.F.R. Parts 32, 159 and 160 (Effective July 21, 2012) with
				  respect to Credit Exposure caused by Derivative Transaction participation on
				  relevant lending limits.
B. Rhode
				  Island Financial Institutions shall act cautiously, responsibly and consistent
				  with safe and sound banking practices in any Derivative Transaction
				  participation.
Rhode Island Code of Regulations › Title 230 - Department of Business Regulation › Chapter 40 - Banking › Subchapter 10 - Lending › Part 1 - Derivative Transactions in Lending Limits (230-RICR-40-10-1) › Section 230-RICR-40-10-1.7 - Credit Unions

Current through June 14, 2024
A. While R.I. Gen.
				  Laws §
										19-5-15(2)(i) may
				  be construed to allow Credit Unions to invest in Derivative Transactions, it is
				  the Department's position that Rhode Island state-chartered Credit Unions are
				  only permitted to participate in Derivative Transactions subject to the
				  conditions in §§
										1.7(B) and (C)   of this Part. §§
										1.5  and  1.6    of this Part do not apply to Rhode Island state-chartered Credit
				  Unions.
B. Before engaging in or
				  taking any affirmative step toward participating in Derivative Transactions,
				  Rhode Island state-chartered Credit Unions shall obtain a non-objection letter
				  and/or written approval from the Department and National Credit Union
				  Administration ("NCUA").
C. If a
				  Rhode Island state-chartered Credit Union obtains approval and/or non-objection
				  to participation in Derivative Transactions from both the Department and the
				  NCUA, the Department may impose appropriate conditions necessary to confirm the
				  Credit Union's ability to manage, monitor, and assess Credit Exposure related
				  to participation in Derivative Transactions and ensure the safety and soundness
				  of the Credit Union.