§ 36-8-17 — § 36-8-17. Improper interest in investments of board.

Rhode Island § 36-8-17

• Jurisdiction: Rhode Island
• Title 36: Public Officers and Employees
• Ch. 36-8: Retirement System — Administration

Text

§ 36-8-17. Improper interest in investments of board.

Except as herein provided, no member of the board and no employee of the board shall have any interest, direct or indirect, in the gains or profits of any investment made by the retirement board, nor as such directly or indirectly receive any pay or emolument for his or her services. No member of the board or employee of the board shall, directly or indirectly, for himself or herself or as an agent, in any manner use the gains or profits, except to make such current and necessary payments as are authorized by the retirement board; nor shall any member or employee of the board become an endorser or surety or become in any manner an obligor for money loaned or borrowed from the retirement board.

Legislative History

P.L. 1936, ch. 2334, § 4; G.L. 1938, ch. 18, § 4; G.L. 1956, § 36-8-17.