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Rhode Island General Laws 19-14.1-5. Instrument evidencing loan, contents

Rhode Island General Laws > Title 19 > Chapter 19-14.1 > § 19-14.1-5 - Instrument evidencing loan, contents


Current as of: 2009

No loan document shall contain:

   (1) Any acceleration clause under which any part or all of the unpaid balance of the obligation not yet matured may be declared due and payable because the holder deems himself or herself to be insecure;

   (2) Any power of attorney to confess judgment or any other power of attorney except a statutory power of sale;

   (3) Any provision whereby the debtor waives any rights accruing to him or her under the provisions of this title or any other law expressly prohibiting such waiver;

   (4) Except for a change in the payment schedule as a result of the borrower's default or delinquency, or pursuant to an agreement involving a court proceeding, any requirement that more than one installment be payable in any one installment period; or

   (5) Any assignment of or order for the payment of any salary, wages, commission or other compensation for services, or any part thereof, earned or to be earned.

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See also:

Rhode Island General Laws > Chapter 19-14.1. Lenders and Loan Brokers

U.S. Code Provisions: Lending

U.S. Code > Title 12 > Chapter 7B - Regional Agricultural Credit Corporations
U.S. Code > Title 12 > Chapter 8 - Adjustment And Cancellation Of Farm Loans
U.S. Code > Title 12 > Chapter 10 - Local Agricultural-Credit Corporations, Livestock-Loan Companies And Like Organizations; Loans To Individuals To Aid In Formation Or To Increase Capital Stock
U.S. Code > Title 12 > Chapter 11 - Federal Home Loan Banks
U.S. Code > Title 12 > Chapter 23 - Farm Credit System
U.S. Code > Title 12 > Chapter 40 - International Lending Supervision
U.S. Code > Title 12 > Chapter 42 - Low-Income Housing Preservation And Resident Homeownership
U.S. Code > Title 15 > Chapter 45 - Emergency Loan Guarantees To Business Enterprises

Federal Regulations: Lending

U.S. Code > Title 12 > Chapter 7B - Regional Agricultural Credit Corporations
U.S. Code > Title 12 > Chapter 8 - Adjustment And Cancellation Of Farm Loans
U.S. Code > Title 12 > Chapter 10 - Local Agricultural-Credit Corporations, Livestock-Loan Companies And Like Organizations; Loans To Individuals To Aid In Formation Or To Increase Capital Stock
U.S. Code > Title 12 > Chapter 11 - Federal Home Loan Banks
U.S. Code > Title 12 > Chapter 23 - Farm Credit System
U.S. Code > Title 12 > Chapter 40 - International Lending Supervision
U.S. Code > Title 12 > Chapter 42 - Low-Income Housing Preservation And Resident Homeownership
U.S. Code > Title 15 > Chapter 45 - Emergency Loan Guarantees To Business Enterprises
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