§ 19-3-1 Law generally applicable to financial institutions
§ 19-3-2 Loans for which financial institution is liable
§ 19-3-3 Maximum aggregate liability of one person or company
§ 19-3-4 Loans on own shares
§ 19-3-5 Non-legal investments
§ 19-3-6 Special investments
§ 19-3-7 Holding or ownership of real estate
§ 19-3-8 Prudent person rule
§ 19-3-9 Financial institutions and credit unions joining Federal Reserve System
§ 19-3-10 Membership in federal home loan banks
§ 19-3-11 Reserve requirements of the Federal Reserve System
§ 19-3-12 Authorized reserve agents
§ 19-3-13 Use of electronic devices and machines
§ 19-3-13.1 ATM cards
§ 19-3-13.2 Fee disclosures at automated teller machines
§ 19-3-14 Severability

Terms Used In Rhode Island General Laws > Chapter 19-3 - Powers and Operations

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
  • real estate: may be construed to include lands, tenements, and hereditaments and rights thereto and interests therein. See Rhode Island General Laws 43-3-10
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • United States: include the several states and the territories of the United States. See Rhode Island General Laws 43-3-8