{"data":{"id":"us-ri/r.i.-gen.-laws-19-14.11-1","jurisdiction":"us-ri","citation":"R.I. Gen. Laws § 19-14.11-1","heading":"License required.","body":"(a) No person shall act as a third-party loan servicer, directly or indirectly, for a loan to a Rhode Island borrower without first obtaining a license under this chapter from the director, or the director’s designee.\n(b) No license shall be required of:\n(1) A depository institution, or an affiliate or subsidiary of a depository institution, that is controlled by, or under common control with, the depository institution and subject to the regulatory authority of the primary regulator of the depository institution.\n(2) A lender licensed under chapter 14 of title 19 that retains the servicing rights on a loan originally closed in the lender’s name and subsequently sold, in whole or in part, to a third party, provided that the provisions of §§ 19-14.11-2 (segregated accounts) and 19-14.11-4 (prohibited acts and practices) of this chapter shall apply to such lender.\n(3) A debt-management company licensed in this state when engaged in activities permitted pursuant to its debt-management license.\n(4) An attorney licensed in this state when collecting a debt on behalf of a client.\n(5) Bona-fide nonprofit, organizations, exempt from taxation under section 501(c) of the Internal Revenue Code, that are approved by the Department of Housing and Urban Development as housing counseling agencies; that have a physical location in Rhode Island; and that lend state or federal funds.","path":["Title 19 Financial Institutions","Chapter 14.11 Third-Party Loan Servicers"],"source_url":"https://webserver.rilegislature.gov/Statutes/TITLE19/19-14.11/19-14.11-1.htm","current_through":"site files published 2025-08-13","vintage":"","retrieved_at":"2026-09-05T19:56:15Z","sha256":"4b13c5d3ec3190371dca310e6121e2b686d3f75cd46bf6222d456293e3256ccd","source_id":"us-ri","stale":true,"prev":"us-ri/r.i.-gen.-laws-19-14.10-22","next":"us-ri/r.i.-gen.-laws-19-14.11-2"},"notice":"GroundRules: Original legal text. Not legal advice."}