Rhode Island § 35-12-10 § 35-12-10. Trust funds.

Rhode Island Statutes

§ 35-12-10 — § 35-12-10. Trust funds.

Rhode Island § 35-12-10

Title 35Public Finance

Ch. 35-12University of Rhode Island Research Corporation

This text of Rhode Island § 35-12-10 (§ 35-12-10. Trust funds.) 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 § 35-12-10 (2026).

Text

§ 35-12-10. Trust funds.
All moneys received pursuant to the authority of this chapter, whether as proceeds
            from the sale of notes or as revenues, receipts, or income, shall be trust funds to
            be held and applied solely as provided in the proceedings under which the notes are
            authorized. Any officer with whom, or any bank or trust company with which, these
            money shall be deposited as trustee thereof shall hold and apply the money for the
            purposes thereof, subject to the applicable provisions of this chapter, the proceedings
            authorizing the notes, and the trust agreement securing the notes, if any.
         

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§ 35-12-10. Trust funds.

All moneys received pursuant to the authority of this chapter, whether as proceeds from the sale of notes or as revenues, receipts, or income, shall be trust funds to be held and applied solely as provided in the proceedings under which the notes are authorized. Any officer with whom, or any bank or trust company with which, these money shall be deposited as trustee thereof shall hold and apply the money for the purposes thereof, subject to the applicable provisions of this chapter, the proceedings authorizing the notes, and the trust agreement securing the notes, if any.