{"data":{"id":"us-ri/r.i.-gen.-laws-19-14.8-14","jurisdiction":"us-ri","citation":"R.I. Gen. Laws § 19-14.8-14","heading":"Bond required — Substitute.","body":"(a) Instead of the surety bond required by § 19-14.8-13, a provider may deliver to the director, in the amount required by § 19-14.8-13(b), and, except as otherwise provided in subsection (a)(2)(A) of this section, payable or available to this state and to individuals who reside in this state when they agree to receive debt-management services from the provider, as their interests may appear, if the provider or its agent does not comply with this chapter:\n(1) A certificate of insurance issued by an insurance company authorized to do business in this state and rated at least “A” by a nationally recognized rating organization, with no deductible; or\n(2) With the approval of the director:\n(A) An irrevocable letter of credit, issued or confirmed by a bank approved by the director, payable upon presentation of a certificate by the director stating that the provider or its agent has not complied with this chapter; or\n(B) Bonds or other obligations of the United States or guaranteed by the United States or bonds or other obligations of this state or a political subdivision of this state, to be deposited and maintained with a bank approved by the director for this purpose.\n(b) If a provider furnishes a substitute pursuant to subsection (a), the provisions of § 19-14.8-13(a), (c), (d), and (e) apply to the substitute.","path":["Title 19 Financial Institutions","Chapter 14.8 Uniform Debt-Management Services Act"],"source_url":"https://webserver.rilegislature.gov/Statutes/TITLE19/19-14.8/19-14.8-14.htm","current_through":"site files published 2025-08-13","vintage":"","retrieved_at":"2026-09-05T19:56:14Z","sha256":"239f7cd44647f3fbfa0c4348ddf0246607aa226c4d4df105691f5af65a699f3c","source_id":"us-ri","stale":true,"prev":"us-ri/r.i.-gen.-laws-19-14.8-13","next":"us-ri/r.i.-gen.-laws-19-14.8-15"},"notice":"GroundRules: Original legal text. Not legal advice."}