§ 42-63.5-7.1 Providence place project
usury exemption. –
All loans made and other forms of credit extended to any one or more of
Providence Place Group Limited Partnership, Providence Place Group, LLC, PPG
Development of Rhode Island, Inc., and/or their respective successors and
assigns, in connection with its or their acquisition, ownership, development,
operation and/or financing of the Providence Place Project, as defined in this
chapter, shall be exempt from usury laws now or hereafter in effect in the
state, including, without limitation, those embodied in § 6-26-2, as
amended, with the effect that all loans and extensions of credit as defined in
this chapter shall be exempt from any maximum rate or other limitation on the
amount of interest which may be reserved, charged or taken with respect thereto.
(P.L. 1997, ch. 31, § 1; P.L. 1998, ch. 441, § 30.)