Rhode Island § 19-9-10 § 19-9-10. Disbursement requirements — Purchase money loans — Dwellings.

Rhode Island Statutes

§ 19-9-10 — § 19-9-10. Disbursement requirements — Purchase money loans — Dwellings.

Rhode Island·Title 19 Financial institutions·Ch. 19-9 Community Obligations and Banking Offenses

§ 19-9-10. Disbursement requirements — Purchase money loans — Dwellings.
Any lending institution providing a purchase money first mortgage loan on a property
            within this state containing less than four (4) living units shall make disbursement
            of the loan proceeds on or before the date upon which the conveyance and/or mortgage
            documents are to be recorded. The disbursement shall be in the form of cash, wired
            funds, government check, cashier's check, or other immediately available funds. The
            disbursement shall be made to the agent responsible for settlement. If the disbursement
            is not as provided in this section, no interest shall be charged for the f

Free access — add to your briefcase to read the full text and ask questions with AI

§ 19-9-10. Disbursement requirements — Purchase money loans — Dwellings.

Any lending institution providing a purchase money first mortgage loan on a property within this state containing less than four (4) living units shall make disbursement of the loan proceeds on or before the date upon which the conveyance and/or mortgage documents are to be recorded. The disbursement shall be in the form of cash, wired funds, government check, cashier's check, or other immediately available funds. The disbursement shall be made to the agent responsible for settlement. If the disbursement is not as provided in this section, no interest shall be charged for the first thirty (30) days following the closing date.

Rhode Island § 19-9-10 (§ 19-9-10. Disbursement requirements — Purchase money loans — Dwellings.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.