The purpose of this Part is to set forth procedures, interpretations, and clarifications in order to provide guidelines and requirements to Regulated Institutions as defined in R.I. Gen. Laws § 19-1-1 (unless otherwise exempt) and Lenders and Loan Brokers as defined in R.I. Gen. Laws § 19-14-1 to ensure compliance with and the promotion of the purposes of the provisions of R.I. Gen. Laws § 34-25.2-1 et seq. entitled Rhode Island Home Loan Protection Act (hereinafter referred to as "the Act"). The actions and information required by this Part are hereby declared to be necessary and appropriate to the public interest. This Part is promulgated to clarify requirements necessary in order to comply with the Act. This Part does not duplicate the requirements of the Act, but rather is a supplement to aid in the enforcement and understanding of certain components and requirements of the Act.
230 R.I. Code R. 230-RICR-40-10-3.2