Rhode Island § 19-9-27 § 19-9-27. Check kiting.

Rhode Island Statutes

§ 19-9-27 — § 19-9-27. Check kiting.

Rhode Island § 19-9-27

Title 19Financial institutions

Ch. 19-9Community Obligations and Banking Offenses

This text of Rhode Island § 19-9-27 (§ 19-9-27. Check kiting.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 19-9-27 (2026).

Text

§ 19-9-27. Check kiting.
(a) Notwithstanding the provisions of § 19-9-24 or § 19-9-25, any person, natural or otherwise, who shall utilize any scheme, device, or artifice,
            commonly known as a check kite or check kiting, for the purposes of defrauding any
            regulated institution or other depository, any vendor of goods, materials, or services,
            or for the purpose of deception of any investor, potential investor, or purchaser
            as to the financial condition or status of that person, in an amount not exceeding
            one thousand dollars ($1,000), shall be fined not exceeding five hundred dollars ($500),
            or imprisoned not exceeding one year, or both.
      

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§ 19-9-27. Check kiting.

(a) Notwithstanding the provisions of § 19-9-24 or § 19-9-25, any person, natural or otherwise, who shall utilize any scheme, device, or artifice, commonly known as a check kite or check kiting, for the purposes of defrauding any regulated institution or other depository, any vendor of goods, materials, or services, or for the purpose of deception of any investor, potential investor, or purchaser as to the financial condition or status of that person, in an amount not exceeding one thousand dollars ($1,000), shall be fined not exceeding five hundred dollars ($500), or imprisoned not exceeding one year, or both.

(b) Notwithstanding the provisions of § 19-9-24 or § 19-9-25, any person, natural or otherwise, who shall utilize any scheme, device, or artifice, commonly known as a check kite or check kiting, for the purposes of defrauding any regulated institution or other depository or any vendor of goods, materials, or services, or for the purposes of deception of any investor, potential investor, or purchaser as to the financial condition or status of that person, in an amount exceeding one thousand dollars ($1,000), shall be fined not exceeding ten thousand dollars ($10,000), or imprisoned not exceeding ten (10) years, or both.

(c) For the purposes of this section, a "check kiteâ€� or "check kitingâ€� means the practice of taking advantage of the time that elapses between the deposit or negotiation of a check, draft, or other negotiable instrument in one regulated institution or other depository and its collection or presentment in another regulated institution or other depository with the intent to defraud.