Rhode Island S2015 removes the licensing exemption for lenders originating fewer than six loans in a twelve-month period.
Rhode Island S2015 amends the state's General Laws to eliminate the exemption from licensing for lenders who originate fewer than six loans within any consecutive twelve-month period. This change ensures that all lenders, regardless of the number of loans they originate, must obtain the necessary licensing to operate within the state. The bill takes effect upon passage.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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