Rhode Island § 6-27-2 § 6-27-2. Declaration of purpose.

Rhode Island Statutes

§ 6-27-2 — § 6-27-2. Declaration of purpose.

Rhode Island § 6-27-2

Title 6Commercial Law – General Regulatory Provisions

Ch. 6-27Truth in Lending and Retail Selling

This text of Rhode Island § 6-27-2 (§ 6-27-2. Declaration of purpose.) 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 § 6-27-2 (2026).

Text

§ 6-27-2. Declaration of purpose.
The general assembly finds that economic stabilization would be enhanced and that
            competition among the various financial institutions and other firms engaged in the
            extension of consumer credit would be strengthened by the informed use of credit.
            The informed use of credit results from an awareness of the cost of credit by consumers.
            It is the purpose of this chapter to assure a meaningful disclosure of credit terms
            so that the consumer will be able to compare more readily the various credit terms
            available to him or her and thus avoid the uninformed use of credit.
         

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§ 6-27-2. Declaration of purpose.

The general assembly finds that economic stabilization would be enhanced and that competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the informed use of credit. The informed use of credit results from an awareness of the cost of credit by consumers. It is the purpose of this chapter to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him or her and thus avoid the uninformed use of credit.