Rhode Island § 19-3-12 § 19-3-12. Authorized reserve agents.

Rhode Island Statutes

§ 19-3-12 — § 19-3-12. Authorized reserve agents.

Rhode Island § 19-3-12

Title 19Financial institutions

Ch. 19-3Powers and Operations

This text of Rhode Island § 19-3-12 (§ 19-3-12. Authorized reserve agents.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 19-3-12 (2026).

Text

§ 19-3-12. Authorized reserve agents.
Reserve agents shall only include financial institutions or national banking associations
            in, and members of the clearing house association of, the city of Providence; and
            national banks, federally insured corporate central credit unions located within the
            six (6) New England states, and banks or trust companies incorporated by the state
            in which they are located, and that are approved by the director, or the director's
            designee, and that are members of the Federal Reserve System, or that maintain the
            reserve required by the Federal Reserve Act, 12 U.S.C. § 221 et seq., in the manner provided by that act.
      

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§ 19-3-12. Authorized reserve agents.

Reserve agents shall only include financial institutions or national banking associations in, and members of the clearing house association of, the city of Providence; and national banks, federally insured corporate central credit unions located within the six (6) New England states, and banks or trust companies incorporated by the state in which they are located, and that are approved by the director, or the director's designee, and that are members of the Federal Reserve System, or that maintain the reserve required by the Federal Reserve Act, 12 U.S.C. § 221 et seq., in the manner provided by that act.