Rhode Island § 36-12.1-20 § 36-12.1-20. Establishment of OPEB trust funds.

Rhode Island Statutes

§ 36-12.1-20 — § 36-12.1-20. Establishment of OPEB trust funds.

Rhode Island § 36-12.1-20

Title 36Public Officers and Employees

Ch. 36-12.1Retiree Health Care Trust Fund

This text of Rhode Island § 36-12.1-20 (§ 36-12.1-20. Establishment of OPEB 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 § 36-12.1-20 (2026).

Text

§ 36-12.1-20. Establishment of OPEB trust funds.
The OPEB Board shall establish one or more trust funds and/or sub trusts to hold the
            assets of the OPEB System, to be known as the Rhode Island OPEB System Trust. Title
            and legal ownership of all assets of the OPEB System shall be in the name of the Rhode
            Island OPEB System Trust. The OPEB Board, or its delegate is authorized to execute
            one or more trust instruments to effectuate the purposes of this section. However,
            such trust instruments shall require that: a) all funds held by such trusts shall
            be used solely to pay benefits pursuant to the OPEB System, and reasonable and legitimate
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§ 36-12.1-20. Establishment of OPEB trust funds.

The OPEB Board shall establish one or more trust funds and/or sub trusts to hold the assets of the OPEB System, to be known as the Rhode Island OPEB System Trust. Title and legal ownership of all assets of the OPEB System shall be in the name of the Rhode Island OPEB System Trust. The OPEB Board, or its delegate is authorized to execute one or more trust instruments to effectuate the purposes of this section. However, such trust instruments shall require that: a) all funds held by such trusts shall be used solely to pay benefits pursuant to the OPEB System, and reasonable and legitimate administrative expenses associated therewith; b) no asset of the OPEB System or contribution made by the State of Rhode Island, may be recovered or returned to the State, until the OPEB Board has certified all liabilities of the System have been satisfied; and c) at no time shall the assets of the Rhode Island OPEB System Trust shall be subject to the claims of the creditors of the State of Rhode Island or the creditors of any beneficiary of the OPEB System.