Rhode Island

The relevant statute is R.I. Gen. Laws §27-5-6.1.

A. Actions lender may take: R.I. Gen. Laws §27-5-6.1 - A lender may not obtain a single interest hazard insurance policy and impose the cost on the mortgagor without complying with the notice requirements set forth in B., below. However, notice is not required if the lender receives notice of non-renewal or cancellation of the hazard insurance on the property.

B. Notices required: R.I. Gen. Laws §27-5-6.1 - A lender must provide written notice of its intent to obtain single interest insurance at least 10 days prior to obtaining the insurance.

C. Coverage required: No express statutory provision.

D. Charges permitted: R.I. Gen. Laws §27-5-6.1 - The lender may not impose the cost and the mortgagor without complying with the notice requirements set forth in B., above.

E. Finance charge allowed on lender's payment: No express statutory provision.

Click here to view relevant Rhode Island Code and Regulations.