Rhode Island § 19-13-3 § 19-13-3. Segregation of new cash deposits.

Rhode Island Statutes

§ 19-13-3 — § 19-13-3. Segregation of new cash deposits.

Rhode Island·Title 19 Financial institutions·Ch. 19-13 Banking Emergencies

§ 19-13-3. Segregation of new cash deposits.
Cash deposits, called "new cash depositsâ€�, received by any regulated institution after
            an order of the director issued under the provisions of this chapter suspending or
            restricting withdrawals of currency from that regulated institution, and while the
            order remains in force either in whole or in part, shall not be subject, by reason
            of the order, to any limitation or restriction as to payment or withdrawal in currency
            or otherwise, and shall be segregated and held or invested and used solely to meet
            the new cash deposit liability; provided, however, that the aggregate amount of cash
            represe

Free access — add to your briefcase to read the full text and ask questions with AI

§ 19-13-3. Segregation of new cash deposits.

Cash deposits, called "new cash depositsâ€�, received by any regulated institution after an order of the director issued under the provisions of this chapter suspending or restricting withdrawals of currency from that regulated institution, and while the order remains in force either in whole or in part, shall not be subject, by reason of the order, to any limitation or restriction as to payment or withdrawal in currency or otherwise, and shall be segregated and held or invested and used solely to meet the new cash deposit liability; provided, however, that the aggregate amount of cash representing those deposits shall be kept separately in cash, or on deposit in Federal Reserve banks, or invested in obligations of the United States, or as may otherwise be authorized from time to time by order of the Secretary of the Treasury of the United States or other constituted federal authority.

Rhode Island § 19-13-3 (§ 19-13-3. Segregation of new cash deposits.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.