Rhode Island legislation · 2026 Regular Session
Rhode Island H8104: AN ACT RELATING TO PROPERTY -- MORTGAGES OF REAL PROPERTY (Limits mortgage prepayment rules to mortgages on owner-occupied properties with one to four (4) dwelling units.)
Status: Chaptered, June 26, 2026
What the bill says
From the introduced text, February 27, 2026:
2026 -- H 8104 ======== LC005422 ======== STATEOFRHODEISLAND IN GENERAL ASSEMBLY JANUARY SESSION, A.D. 2026 ____________ ANACT RELATING TO PROPERTY -- MORTGAGES OF REAL PROPERTY Introduced By: Representatives McEntee, Spears, Caldwell, and O'Brien Date Introduced: February 27, 2026 Referred To: House Judiciary It is enacted by the General Assembly as follows: SECTION 1. Section 34-23-5 of the General Laws in Chapter 34-23 entitled "Mortgages of Real Property" is hereby amended to read as follows: 34-23-5. Prepayment of mortgage loans. (a) Every bank, trust company, loan company, building-loan association, credit union, finance company and other person(s) making a loan or loans secured by a mortgage or mortgages on real estate located in Rhode Island containing thereon dwelling houses of not more than four (4) dwelling units shall provide in the mortgage note, and in any event the loan or loans shall be upon the condition that the full payment of mortgage may be made at any time after one year from the making of the loan without penalty, provided further, that during the first year, penalty or other charges for prepayment shall not exceed two percent (2%) of the balance due at date of the payoff. If interest or other charges in connection with the loan or loans shall have been prepaid or included in the face of the mortgage, the …
Sponsors
- Hagan McEntee, Carol (D, HD-033) · primary sponsor
- Tina Spears (D, HD-036)
- Justine Caldwell (D, HD-030)
Latest actions
- : Effective without Governor's signature
- : Transmitted to Governor
- : Senate passed Sub A in concurrence
- : Placed on Senate Calendar
- : House passed Sub A
- : Placed on House Calendar
- : Committee recommends passage of Sub A
- : Proposed Substitute
- : Scheduled for consideration
- : Committee recommended measure be held for further study
Votes
- Senate Seq #545: (June 10, 2026): 37 yea, 0 nay, passed
- House Seq #335: PASSAGE (June 8, 2026): 70 yea, 0 nay, passed
- House Committee on Judiciary: Passage of Sub A (June 3, 2026): 11 yea, 0 nay, passed
Subjects: PROPERTY
Common questions
- What is H8104?
- H8104 is a bill in the Rhode Island Legislature (2026 Regular Session): AN ACT RELATING TO PROPERTY -- MORTGAGES OF REAL PROPERTY (Limits mortgage prepayment rules to mortgages on owner-occupied properties with one to four (4) dwelling units.).
- What is the status of H8104?
- Chaptered as of June 26, 2026. Latest action: Effective without Governor's signature (June 26, 2026).
- Who sponsored H8104?
- Hagan McEntee, Carol (D, HD-033), with 2 co-sponsors.
- Where is the official record for H8104?
- On the Rhode Island Legislature website: http://webserver.rilegislature.gov/BillText/BillText26/HouseText26/H8104A.pdf
Source: official Rhode Island record. Tracked by Delilah, AI for legislation across all 50 states and Congress.