Rhode Island § 36-12.1-21 § 36-12.1-21. Custody and investment of funds.

Rhode Island Statutes

§ 36-12.1-21 — § 36-12.1-21. Custody and investment of funds.

Rhode Island § 36-12.1-21

Title 36Public Officers and Employees

Ch. 36-12.1Retiree Health Care Trust Fund

This text of Rhode Island § 36-12.1-21 (§ 36-12.1-21. Custody and investment of 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 § 36-12.1-21 (2026).

Text

§ 36-12.1-21. Custody and investment of funds.
(a) All money immediately required for the payment of OPEB Benefits shall be invested
            only in accordance with the written objectives and guidelines established by the state
            investment commission pursuant to the provisions of chapter 10 of title 35 and other applicable law.
         
(b) All money not immediately required for the payment of OPEB Benefits shall be invested
            in accordance with the provisions of chapter 10 of title 35 and other applicable law and shall be held in a custodial or trust account in accordance
            with § 36-12.1-5. The trust and custodial account established unde

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§ 36-12.1-21. Custody and investment of funds.

(a) All money immediately required for the payment of OPEB Benefits shall be invested only in accordance with the written objectives and guidelines established by the state investment commission pursuant to the provisions of chapter 10 of title 35 and other applicable law.

(b) All money not immediately required for the payment of OPEB Benefits shall be invested in accordance with the provisions of chapter 10 of title 35 and other applicable law and shall be held in a custodial or trust account in accordance with § 36-12.1-5. The trust and custodial account established under this section shall be maintained pursuant to written documents which expressly provide that it shall be impossible at any time prior to the satisfaction of all liabilities with respect to employees and their beneficiaries for any part of the corpus or income to be used for or diverted to purposes other than the payment of OPEB Benefits to employees and their beneficiaries (except as otherwise permitted by § 36-12.1).