§ 6-26.1-1 Definitions
§ 6-26.1-2 Authorization to make loans — Usury
§ 6-26.1-3 Variable rates
§ 6-26.1-4 Interest
§ 6-26.1-5 Interest fees and charges
§ 6-26.1-6 Overdraft accounts
§ 6-26.1-7 Omitted installments
§ 6-26.1-8 Insurance
§ 6-26.1-9 Delinquent installments
§ 6-26.1-10 Attorneys’ fees — Costs
§ 6-26.1-11 Amendment of agreement
§ 6-26.1-12 Materiality of terms
§ 6-26.1-13 Applicable law

Terms Used In Rhode Island General Laws > Chapter 6-26.1

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appraisal: A determination of property value.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • in writing: include printing, engraving, lithographing, and photo-lithographing, and all other representations of words in letters of the usual form. See Rhode Island General Laws 43-3-16
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Statute: A law passed by a legislature.
  • Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
  • United States: include the several states and the territories of the United States. See Rhode Island General Laws 43-3-8