§ 34-25.2-9 - Subterfuge prohibited. - Rhode Island Statutes

SECTION 34-25.2-9

   § 34-25.2-9  Subterfuge prohibited. –It shall be a violation of this chapter for any person to attempt in bad faithto avoid the application of this chapter by:

   (a) Dividing any loan transaction into separate parts for thepurpose of evading the provisions of this chapter;

   (b) Structuring a home loan transaction as an open-end loanfor the purpose of evading the provisions of this chapter when the loan wouldhave been a high-cost home loan if the loan had been structured as a closed-endloan;

   (c) Engaging in any other subterfuge with the intent ofevading any provision of this chapter.