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The active rule requires a $50,000 bond with the general Lender application and continued coverage throughout licensure. The Loan Broker amount is $20,000 and the Small Loan Lender amount is $10,000; those are different license classes, not lower limits to select for a general lender. Identify the actual lending activity, licensed entity and NMLS account before arranging the bond. Separate net-worth and applicable qualified-individual or MLO requirements remain part of licensing.

Section 19-14-6 makes the bond perpetual until the director releases the surety or the surety cancels with at least thirty days' advance notice acceptable to the director. Cancellation does not erase liability incurred or accrued before that notice period ends. After a cancellation notice, the director may require reinstatement or replacement; failure to have satisfactory coverage before cancellation results in license suspension under the statute.

Purchase Now opens Propeller's Rhode Island lender-license application in a new tab. Bring the DBR request, exact legal company and NMLS identifier, general Lender classification, required $50,000 sum, effective dates and any existing bond or cancellation notice. Check the accepted form and delivery instructions before paying, arrange execution and filing with the licensing materials, and retain DBR acceptance. NMLS application submission and bond purchase are not license approval.