§ 19-14.1-3 - Unemployment insurance defined. - Rhode Island Statutes

SECTION 19-14.1-3

   § 19-14.1-3  Unemployment insurancedefined. – For the purposes of this chapter, involuntary unemployment insurance coverageshall not be a factor in the approval by the lender or loan broker of any loan.The lender or loan broker shall give and maintain specific written indicationthat the cost of this coverage is disclosed to the debtor, that the coverage isnot a condition for the extension of credit and that the debtor voluntarilydesires the coverage. The debtor shall be given written notice of his or herright to cancel within thirty (30) days of the receipt of the insurance policyand that the cancellation will result in a full refund of any premiums paid.Unemployment resulting from a labor dispute shall be deemed involuntaryunemployment.