§ 19-14-4 - Annual fee. - Rhode Island Statutes

SECTION 19-14-4

   § 19-14-4  Annual fee. – (a) Each licensee shall pay an annual license fee as follows:

   (1) Each small loan lender license and each branchcertificate, the sum of five hundred fifty dollars ($550);

   (2) Each loan broker license and each branch certificate, thesum of five hundred fifty dollars ($550);

   (3) Each lender license and each branch certificate, the sumof one thousand one hundred dollars ($1,100);

   (4) Each sale of checks license, the sum of three hundredsixty dollars ($360);

   (5) Each check cashing license, the sum of three hundredsixty dollars ($360);

   (6) Each electronic money transfer license, the sum of threehundred sixty dollars ($360);

   (7) Each registration to provide debt-management services,the sum of two hundred dollars ($200); and

   (8) Each mortgage loan originator license, the sum of onehundred dollars ($100).

   (b) Any licensee who shall not pay the annual fee by December31 of each year shall be subject to a daily penalty of twenty-five dollars($25) per day, subject to a maximum of seven hundred fifty dollars ($750). Thepenalty shall be paid to the director to and for the use of the state. Thepenalty may be waived for good cause by the director or the director'sdesignee, upon written request.