Acts prohibited by residential contractor - Conflicts of interest

(a) The following acts are prohibited by a residential contractor: (1) Having a controlling ownership interest in the lender providing a mortgage loan for home improvement for the work being performed by the contractor; or (2) Being a cosigner or acting as a guarantor for a mortgage loan for home improvement. (b) As used in this section, "mortgage loan for home improvement" shall have the same meaning as defined in § 45-13-403(c) . Acts 2003 , ch. 368, § 3. (a) The following acts are prohibited by a residential contractor: (1) Having a controlling ownership interest in the lender providing a mortgage loan for home improvement for the work being performed by the contractor; or (2) Being a cosigner or acting as a guarantor for a mortgage loan for home improvement. (1) Having a controlling ownership interest in the lender providing a mortgage loan for home improvement for the work being performed by the contractor; or (2) Being a cosigner or acting as a guarantor for a mortgage loan for home improvement. (b) As used in this section, "mortgage loan for home improvement" shall have the same meaning as defined in § 45-13-403(c) . Acts 2003 , ch. 368, § 3.