§ 35-12-6 — § 35-12-6. Additional powers.

Rhode Island § 35-12-6

• Jurisdiction: Rhode Island
• Title 35: Public Finance
• Ch. 35-12: University of Rhode Island Research Corporation

Text

§ 35-12-6. Additional powers.

In addition to the powers enumerated in § 35-12-5, the corporation shall have power to:

(1) Purchase accounts from the university for such consideration and upon such terms and conditions as the corporation shall determine;

(2) Pledge purchased accounts as security for any borrowings undertaken by the corporation or sell the accounts for such consideration and on such terms and conditions as the corporation shall determine;

(3) Borrow money and issue notes and provide for the rights of the holders thereof, and secure the notes by assignment, pledge, or granting of a security interest in accounts, including, without limitation, all or a part of its interest in accounts for the purpose of providing funds to effectuate its purposes under this chapter; and

(4) Create and establish such other fund or funds as may be necessary or desirable for its corporate purposes.

Legislative History

P.L. 1982, ch. 324, § 1.