Rhode Island § 19-4-10 § 19-4-10. Insurance of deposits.

Rhode Island Statutes

§ 19-4-10 — § 19-4-10. Insurance of deposits.

Rhode Island·Title 19 Financial institutions·Ch. 19-4 Regulatory Oversight

§ 19-4-10. Insurance of deposits.
Any regulated institution permitted by law to receive deposits, except a financial
            institution prevented from accepting deposits by its bylaws or agreement to form,
            shall maintain federal deposit insurance. Failure to maintain federal deposit insurance
            shall be deemed sufficient cause for the director, or the director's designee, to
            revoke the agreement to form or right to do business of the noncomplying regulated
            institution.
         

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

§ 19-4-10. Insurance of deposits.

Any regulated institution permitted by law to receive deposits, except a financial institution prevented from accepting deposits by its bylaws or agreement to form, shall maintain federal deposit insurance. Failure to maintain federal deposit insurance shall be deemed sufficient cause for the director, or the director's designee, to revoke the agreement to form or right to do business of the noncomplying regulated institution.

Rhode Island § 19-4-10 (§ 19-4-10. Insurance of deposits.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.