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2018 Rhode Island General Laws
Title 34 - Property
Chapter 34-25.2 Rhode Island Home Loan Protection Act
Section 34-25.2-9 Subterfuge prohibited.
Universal Citation: RI Gen L § 34-25.2-9 (2018)
§ 34-25.2-9. Subterfuge prohibited.
It shall be a violation of this chapter for any person to attempt in bad faith to avoid the application of this chapter by:
(1) Dividing any loan transaction into separate parts for the purpose of evading the provisions of this chapter;
(2) Structuring a home loan transaction as an open-end loan for the purpose of evading the provisions of this chapter when the loan would have been a high-cost home loan if the loan had been structured as a closed-end loan;
(3) Engaging in any other subterfuge with the intent of evading any provision of this chapter.
History of Section.
(P.L. 2006, ch. 569, § 1; P.L. 2006, ch. 573, § 1; P.L. 2011, ch. 363, § 16.)
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