Rhode Island § 19-9-10 - Community Obligations and Banking Offenses
Full text of Rhode Island Rhode Island General Laws § 19-9-10 — Community Obligations and Banking Offenses, with citation guidance and answers to common questions.
§ 19-9-10. Community Obligations and Banking Offenses
R.I. Gen. Laws § 19-9-10
§ 19-9-10. Disbursement requirements — Purchase money loans — Dwellings.
Any lending institution providing a purchase money first mortgage loan on a property within this state containing less than four (4) living units shall make disbursement of the loan proceeds on or before the date upon which the conveyance and/or mortgage documents are to be recorded. The disbursement shall be in the form of cash, wired funds, government check, cashier’s check, or other immediately available funds. The disbursement shall be made to the agent responsible for settlement. If the disbursement is not as provided in this section, no interest shall be charged for the first thirty (30) days following the closing date.
History of Section.
P.L. 1995, ch. 82, § 47.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 19-9-10
What does Rhode Island General Laws § 19-9-10 cover?
Section 19-9-10 ("Community Obligations and Banking Offenses") is part of the Rhode Island General Laws, the codified statutory law of Rhode Island. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Rhode Island § 19-9-10?
A common citation format is "Rhode Island General Laws § 19-9-10" (Rhode Island). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Rhode Island law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Rhode Island official source linked on this page or consult a licensed Rhode Island attorney.
How does Rhode Island § 19-9-10 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Rhode Island can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Rhode Island.