§ 19-14.2-6 - Assignment of earnings. - Rhode Island Statutes

SECTION 19-14.2-6

   § 19-14.2-6  Assignment of earnings. –The payment in money, credit, goods, or things in action, as consideration forany sale or assignment of, or order for, the payment of wages, salary,commissions, or other compensation for services, whether earned or to beearned, shall for the purposes of regulation under this chapter be deemed aloan secured by the assignment, and the amount which the assigned compensationexceeds the amount of consideration actually paid shall for the purposes ofregulation under this chapter be deemed interest upon the loan from the date ofthe payment to the date the compensation is payable. The transaction shall begoverned by and subject to the provisions of this chapter.