§ 19-14.2-14 - Penalties. - Rhode Island Statutes

SECTION 19-14.2-14

   § 19-14.2-14  Penalties. – (a) Any person or any member, officer, director, agent, or employee of anyperson, who knowingly violates or participates in the violation of any of theapplicable provisions of this chapter or any regulation promulgated under thischapter, is guilty of a misdemeanor and upon conviction shall be punished by afine of not more than one thousand dollars ($1,000) or imprisoned for not morethan one year, or both. Each violation shall constitute a separate offense.Complaints under this chapter may be made by the director or the director'sdesignee and he or she shall not be required to give surety for costs. Theattorney general shall prosecute all complaints under this chapter.

   (b) Any contract of loan not invalid for any other reason, inthe making or collecting of which any act has been done which constitutes amisdemeanor under this section, shall be voidable, at the discretion of thecourt, and the small loan lender shall have no right to collect or receive anyprincipal, interest, fees or charges.