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Can you summarize RIGL Title 19, Chapter 14?
Financial institutions > Licensed Activities
Short Summary
The provided legal document content pertains to licensed activities for financial institutions under the State of Rhode Island General Laws. It covers various aspects such as compliance with federal laws, due diligence in confirming compliance with state/federal statutes and regulations, severability of provisions, appropriation of funds for clerical assistance and necessary expenses, non-impairment of pre-existing contracts or loans, right to appeal actions or decisions of the director, adoption of rules and regulations for implementation and administration, penalties for unlicensed transactions, restrictions on conducting business under a different name or place, penalties for violations of licensure requirements, reporting requirements for licensees, modification or repeal of the chapter, restrictions on conducting business with other solicited businesses, advertising and misrepresentations, examinations and investigations by the director, suspension of licenses pending investigation, revocation of licenses for failure to pay fees or meet requirements, grounds for revocation of licenses, written orders for revocation or suspension, surrender of licenses, maintenance of books, accounts, and records, non-impairment of pre-existing contracts, transferability or assignment of licenses, appointment and maintenance of a resident attorney, licensing requirements, denial of license for incomplete application, minimum-net worth requirements, annual license fees, definitions of terms used in the laws. The documents apply to licensees engaged in activities requiring a license under the State of Rhode Island General Laws for financial institutions. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Licensees engaged in activities requiring a license under the State of Rhode Island General Laws for financial institutions
What does it govern?
Licensed activities for financial institutions
What are exemptions?
No exemptions are mentioned in these documents.
What are the Penalties?
Civil penalties of up to $5,000 per day of violation for non-licensees engaging in activity requiring licensure. Civil penalties of up to $1,000 per violation or per identifiable measured transaction for licensees who materially violate applicable provisions or regulations.
Jurisdiction
Rhode Island