The bill amends Section 19-14.1-10 of the General Laws concerning lenders and loan brokers by introducing a new section titled "Special exemptions." It removes the licensing exemption for individuals who originate fewer than six loans in a twelve-month period, thereby tightening the regulations around loan origination. The bill does not introduce new exemptions for various entities, such as nonprofit organizations or regulated institutions, nor does it specify categories of loans that are exempt from licensing requirements. The act is set to take effect upon passage.

Statutes affected:
83: 19-14.1-10