Rhode Island Code of Regulations Title 230 - Department of Business Regulation
Rhode Island Code of Regulations (RICR) Title 230 is dedicated to the Department of Business Regulation (DBR). This title contains a vast array of administrative rules that govern and license a wide variety of businesses, professions, and activities within the state.
The Rhode Island Department of Business Regulation (DBR) is a critical state agency whose primary function is to protect the public through the regulation and licensing of designated businesses, professions, occupations, and other specified activities. It oversees a diverse range of industries to ensure fair practices, financial stability, and consumer protection.
Key areas and divisions typically covered under Title 230 include:
Chapter 10: Central Operations: This chapter would likely cover general administrative procedures, definitions, public records requests, and rules that apply across all divisions of the DBR.
Chapter 20: Insurance: This is a very significant portion, containing detailed regulations for the insurance industry in Rhode Island. This includes:
Licensing of insurance producers (agents), brokers, and companies.
Rules for various types of insurance: Automobile, property, casualty, life, health, and commercial insurance.
Claims settlement practices: Standards for how insurance companies must handle claims (e.g., promptness, fairness, handling of total loss claims, betterment, depreciation).
Financial solvency and corporate operations of insurance companies.
Privacy of consumer information and safeguarding customer data.
Continuing education requirements for insurance professionals.
Health Insurance regulations (though some aspects might also fall under the Office of the Health Insurance Commissioner, which often works in conjunction with DBR).
Chapter 30: Commercial Licensing: This broad chapter covers a multitude of licensed businesses and professions, such as:
Real Estate: Licensing of real estate agents, brokers, and appraisers; educational requirements, professional conduct, and disciplinary actions.
Contractors: Registration and licensing of various types of contractors (e.g., residential, commercial, and specific trades like motor vehicle glass repair shops).
Design Professionals: Licensing and regulation of professions like architects, engineers, landscape architects, and land surveyors.
Other specific commercial licenses: This can be very diverse and might include regulations for businesses like motor vehicle dealers, pawnbrokers, precious metals dealers, and more.
Chapter 40: Banking: Regulations pertaining to financial institutions, including:
State-chartered banks and credit unions.
Loan brokers and other financial service providers.
Consumer credit and lending practices.
Financial examinations and solvency oversight.
Chapter 50: Securities, Franchises, and Charities:
Securities regulation: Rules for the sale of securities, registration of broker-dealers and investment advisors, and investor protection.
Franchise offerings: Regulations governing the sale and registration of franchises.
Charitable organizations: Registration and oversight of charities that solicit funds in Rhode Island.
Chapter 80: Marijuana: Given the evolving landscape of cannabis laws, this chapter would contain regulations related to the licensing, cultivation, processing, testing, and sale of marijuana products within the state.
In essence, RICR Title 230 is the regulatory backbone for a significant portion of Rhode Island's economy, ensuring that businesses and professionals operate fairly, ethically, and in compliance with state law to protect consumers and maintain a stable business environment.
RELATED Blog
0 comments