§ 34-25.2-9 - Subterfuge prohibited.
SECTION 34-25.2-9
§ 34-25.2-9 Subterfuge prohibited. –It shall be a violation of this chapter for any person to attempt in bad faithto avoid the application of this chapter by:
(a) Dividing any loan transaction into separate parts for thepurpose of evading the provisions of this chapter;
(b) Structuring a home loan transaction as an open-end loanfor the purpose of evading the provisions of this chapter when the loan wouldhave been a high-cost home loan if the loan had been structured as a closed-endloan;
(c) Engaging in any other subterfuge with the intent ofevading any provision of this chapter.