Title 19, Title 19 Institutions

When a deposit is made in a regulated institution in the name of two (2) or more persons as trustees, and a check is drawn upon the trust account by any trustee or trustees authorized by the other trustee or trustees to draw checks upon the trust account, neither the payee, nor t…

When a deposit has been or shall be made in any regulated institution in the name of two (2) persons and payable to either or to the survivor, the deposit, or any part of the deposit, or any interest or dividend on the deposit, may be paid to either of those persons, whether the …

(a) Definitions. For purposes of this section the following words and phrases shall have the following meanings, unless the context indicates another meaning: (1) “Account” means a contract of deposit between a depositor and a depository institution, and includes a checking accou…

Any deposit evidenced by a passbook in a regulated institution may be pledged by delivery of the passbook to the pledgee, with an order for its transfer; but this pledge shall not be effective to secure the deposit against any person other than the pledgor or his or her executor …

When any person to whom a passbook, share certificate, membership certificate, stock certificate, deposit certificate, or other form of investment contract has been issued by any regulated institution, or by any insured-deposit-taking institution organized under the laws of the U…

Every regulated institution shall provide for charge-free savings accounts to persons aged seventeen (17) years or less; provided, however, that the provisions of this section shall not apply to those accounts having a balance of five hundred dollars ($500) or more.

All regulated institutions shall, unless they have reason to doubt the validity of the identification, accept as sufficient identification for the cashing of checks and other banking transactions involving municipal, state, or federal funds in amounts less than seven hundred and …

(a) All checks, drafts, or similar negotiable or non-negotiable instruments or orders of withdrawal that are drawn against funds held by a regulated institution, as defined in this title, shall clearly display on the face the month and year in which the account was opened. This s…

(a) Every mortgagee holding funds of a mortgagor in escrow for the payment of taxes and insurance premiums with respect to mortgaged property located in this state shall pay or credit interest on those funds at a rate equal to the rate paid to the mortgagee on its regular savings…

All monthly billing by mortgagees to mortgagors must show the allocation of the mortgagor’s prior monthly payment to principal, interest, and escrow, if applicable.

Except as required by federal law, no regulated institution or other insured-deposit-taking institutions organized under the laws of the United States shall assess any penalty for early withdrawal from any time deposit account if the owner of the account has died or been declared…

It shall be unlawful for any regulated institution or other insured-deposit-taking institution duly organized under the laws of the United States, to charge any service charge whatsoever for the holding of passbook savings deposits or accounts.

Any bank, credit union, or other financial institution doing business in this state shall display a notice that enumerates that there may be charges imposed by the institution of which the customer may not be aware.

Every president, director, officer, trustee, cashier, treasurer, teller, clerk, employee, or agent of any licensee licensed pursuant to chapter 14 of title 19, regulated institution, or other depository, who, without authority of the directors or trustees, issues or puts forth an…

Every president, director, officer, trustee, cashier, treasurer, teller, clerk, or agent of any regulated institution, insurance company, or other depository who embezzles, abstracts, purloins, or willfully misapplies any of the moneys, funds, or credits entrusted to the custody …

(a) Any person who purchases any goods, materials, or services, makes payment for that purchase by check, draft, or order for payment of money, and takes possession of the goods or materials, or has the benefit of the service, and who subsequently orders payment stopped on the ch…

(a) Any person who purchases any goods, materials, or services, pays for that purchase by check, draft, or order for payment of money, and takes possession of the item, and who subsequently orders payment stopped on the check, draft, or order for payment, or who, with intent to d…

The following shall be prima facie evidence of intent to defraud within the meaning of §§ 19-9-24 and 19-9-25 as against the maker or drawer: the making, drawing, uttering, or delivering of a check, draft, or order for the payment of money upon any regulated institution or other …

(a) Notwithstanding the provisions of § 19-9-24 or § 19-9-25, any person, natural or otherwise, who shall utilize any scheme, device, or artifice, commonly known as a check kite or check kiting, for the purposes of defrauding any regulated institution or other depository, any ven…

Any person who knowingly makes a false statement to any regulated institution, licensee or other depository respecting the financial condition of any person, firm, or corporation for the purpose of obtaining a loan from that regulated institution, licensee, or other depository, w…

Any person who knowingly makes a false statement to any regulated institution or other depository, or who knowingly executes, or attempts to execute, a scheme or artifice to defraud, or willingly overvalues any land, property, or security, for the purpose of influencing in any wa…

(a) Every lending institution that accepts an application for a mortgage loan that requires the payment of an appraisal fee, shall, prior to the payment of the appraisal fee, inform the applicant that if the mortgage is not approved, the appraisal fee may not be refunded to the c…

(a) Every lending institution, that accepts an application for any residential mortgage loan or any commercial mortgage loan that requires an appraisal in order to process the loan, is not permitted to use an appraisal company that is either owned by or has directors, stockholder…

(a) The attorney general is hereby empowered to bring an action in the name of the state in any court of competent jurisdiction for restraining orders and injunctive relief to restrain and enjoin violations or threatened violation of the provisions of §§ 19-9-23 and 19-9-29. (b) …

Every person who willfully or maliciously instigates, makes, circulates, or transmits to another or others any statement, untrue in fact, derogatory to the financial condition or affecting the solvency or financial standing of any regulated institution or other insured-deposit-ta…

(a) Every financial institution making loans within this state secured by an interest in real estate may require applicants for loans to disclose whether or not the applicant or applicants have been convicted of any degree of the crime of arson as described in chapter 4 of title …

If any provision of this chapter or the application of this chapter to any person or circumstances is held invalid or unconstitutional, the invalidity or unconstitutionality shall not affect other provisions or applications of this chapter that can be given effect without the inv…

Every lending institution shall be subject to the provisions of § 27-5-3.2.

(a) For purposes of this section, “mortgage trigger lead” means a consumer report obtained pursuant to section 604(c)(1)(B) of the Fair Credit Reporting Act, 15 U.S.C. § 1681b, where the issuance of the report is triggered by an inquiry made with a consumer reporting agency in re…

(a) Each regulated institution, as defined in this chapter, to which the Community Reinvestment Act of 1977, 12 U.S.C. § 2901 et seq., and as subsequently amended from time to time, applies, shall file with the division of banking, a copy of each report and document that it is re…

Every lending institution that accepts an application for a mortgage loan on property located in this state and that engages a title attorney to search the title of the subject real estate shall require the attorney to offer to the prospective mortgagor, at the usual premium rate…

(a) Every lending institution that accepts an application for any residential mortgage loan or any commercial mortgage loan and requires that a title attorney search the title of the subject real estate, or requires a policy of title insurance, shall permit the prospective mortga…

(a) Except as provided in subsections (b) through (d), no lending institution making a loan in this state, or any attorney, agent, or representative for that lending institution, shall directly or indirectly, as a condition of a loan or advance, require any attorney representing …

Notwithstanding the provisions of any other laws, any person doing business under and as permitted by any law of this state or of the United States relating to lending institutions is authorized, in connection with the making of any loan, to contract for the accrual of interest, …

(a) Every lending institution or other entity that owns or services a loan, secured by a mortgage on property located in this state, shall: (1) Provide to the obligor, within three (3) business days after receipt of a written or telefaxed request, the exact payoff due the lender …