§ 27-58-6 - Anti-tying provisions. - Rhode-island Statutes

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Statutes > Rhode-island > Title-27 > Chapter-27-58 > 27-58-6

SECTION 27-58-6

§ 27-58-6 Anti-tying provisions. –(a) No financial institution may offer a banking product or service, or fix orvary the conditions of this offer, on a condition or requirement that thecustomer obtains insurance from the financial institution, or any particularinsurance producer.

(b) No person shall require or imply that the purchase of aninsurance product from a financial institution by a customer or prospectivecustomer of the institution is required as a condition of, or is in any wayrelated to, the lending of money or extension of credit, the establishment ormaintenance of a trust account, the establishment or maintenance of a checkingor savings account or other deposit account, or the provision of servicesrelated to any of these activities.

State Codes and Statutes

Statutes > Rhode-island > Title-27 > Chapter-27-58 > 27-58-6

SECTION 27-58-6

§ 27-58-6 Anti-tying provisions. –(a) No financial institution may offer a banking product or service, or fix orvary the conditions of this offer, on a condition or requirement that thecustomer obtains insurance from the financial institution, or any particularinsurance producer.

(b) No person shall require or imply that the purchase of aninsurance product from a financial institution by a customer or prospectivecustomer of the institution is required as a condition of, or is in any wayrelated to, the lending of money or extension of credit, the establishment ormaintenance of a trust account, the establishment or maintenance of a checkingor savings account or other deposit account, or the provision of servicesrelated to any of these activities.

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State Codes and Statutes

Statutes > Rhode-island > Title-27 > Chapter-27-58 > 27-58-6

SECTION 27-58-6

§ 27-58-6 Anti-tying provisions. –(a) No financial institution may offer a banking product or service, or fix orvary the conditions of this offer, on a condition or requirement that thecustomer obtains insurance from the financial institution, or any particularinsurance producer.

(b) No person shall require or imply that the purchase of aninsurance product from a financial institution by a customer or prospectivecustomer of the institution is required as a condition of, or is in any wayrelated to, the lending of money or extension of credit, the establishment ormaintenance of a trust account, the establishment or maintenance of a checkingor savings account or other deposit account, or the provision of servicesrelated to any of these activities.