Rhode Island General Laws

R.I. Gen. Laws § 19-14-2 (2026)

Licenses required

✓ current as of July 2026

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(a) No person shall engage within this state in the business of: (1) Making or funding loans or acting as a lender or small loan lender; (2) Brokering loans or acting as a loan broker; (3) Providing currency transmission for a fee or other consideration; (4) Cashing checks for a fee or other consideration, which includes any premium charged for the sale of goods in excess of the cash price of the goods; (5) Providing debt-management services; (6) Performing the duties of a mortgage-loan originator; (7) Servicing a loan, directly or indirectly, as a third-party loan servicer without first obtaining a license or registration from the director or the director’s designee. The licensing requirement for any person providing debt-management plans shall apply to all persons, without regard for state of incorporation or a physical presence in this state, who initiate or service debt-management plans for residents of this state. Special exemptions from licensing for each activity are contained in other chapters in this title.

(b) No lender or loan-broker licensee shall permit an employee to act as a mortgage loan originator without first verifying that the originator is licensed under this chapter. No individual may act as a mortgage-loan originator without being licensed, or act as a mortgage-loan originator for more than one person. The license of a mortgage-loan originator is not effective during any period when the mortgage-loan originator is not associated with a lender or loan-broker licensee.

(c) Each loan negotiated, solicited, placed, found, or made without a license as required in subsection (a) shall constitute a separate violation for purposes of this chapter.

(d) No person engaged in the business of making or brokering loans in this state, whether licensed in accordance with the provisions of this chapter or exempt from licensing, shall accept applications, or referral of applicants from, or pay a fee to, any lender, loan broker, or mortgage-loan originator who is required to be licensed or registered under said sections but is not licensed to act as such by the director, or the director’s designee.

(e) No person, except those exempt pursuant to § 19-14.3-1, shall engage in the business of currency transmission in this state without a license as provided in this chapter.

(f) A currency transmission licensee may conduct its business in this state at one or more locations, directly or indirectly owned, or through one or more authorized delegates, or both, pursuant to the license granted under this chapter.

(g) A person is considered to be engaged in the business of currency transmission in this state if that person enters into a transaction with a person physically located in or resident in Rhode Island at the time the transaction is initiated.

Notes of Decisions

Cited in 2 cases, 1997–2004 · leading case: Labor Ready Ne., Inc. v. McConaghy, 849 A.2d 340 (R.I. 2004).

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Labor Ready Ne., Inc. v. McConaghy, 849 A.2d 340 (R.I. 2004). · cites it 14× “On August 9, 2001, DBR caused Labor Ready to be served with an order to show cause and a notice of hearing, alleging that its voucher system constituted an unlicensed check-cashing business in violation of G.L.1956 § 19-14-2. 3 After an administrative hearing on March 20, 2002,…”

Pontbriand v. Sundlun, 699 A.2d 856 (R.I. 1997). · cites it 10× “The APRA notes that it is “the intent of this chapter to protect from disclosure information about particular individuals maintained in the files of public bodies when disclosure would constitute an unwarranted invasion of personal privacy.”

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