This past month, the Rhode Island Department Business Regulation finalized amendments to its regulations, repealing the current administrative laws (R.I. Code R. 11-2-3) implementing the “Home Loan Protection Act” (R.I. Gen. Laws §§ 34-25.2-1 et seq.) and re-implementing them with technical, non-substantive changes into a new Subchapter of Rhode Island’s administrative code (Part 3, Subchapter 10, Chapter 40, of Title 230). Notably, the appendices of the now-repealed part of the regulations – which promulgated some disclosure forms – have not been reimplemented. Rather, the Department will be issuing bulletins promulgating the format of these forms in the future (see the “Concise explanatory statement” under the “Rulemaking Documents” subheading available at: https://rules.sos.ri.gov/regulations/part/230-40-10-3).
We are currently reviewing this change to determine any impact to our document library and/or systems and evaluating any necessary changes. Any modifications we make will be announced on our website (https://compliance.docutech.com/).