Rhode Island § 37-12.1-3 § 37-12.1-3. Deduction from retained earnings.

Rhode Island Statutes

§ 37-12.1-3 — § 37-12.1-3. Deduction from retained earnings.

Rhode Island § 37-12.1-3

Title 37Public Property and Works

Ch. 37-12.1Substitution of Security for Retained Earnings of Architects and Engineers

This text of Rhode Island § 37-12.1-3 (§ 37-12.1-3. Deduction from retained earnings.) 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 § 37-12.1-3 (2026).

Text

§ 37-12.1-3. Deduction from retained earnings.
In the event that pursuant to the terms of the public works contract it is necessary
            to deduct any sum from retained earnings, the state or governmental unit or agency
            thereof shall first apply the deduction against sums not withdrawn and thereafter
            from the proceeds of the sale of any securities deposited or from the income earned
            on those securities, whichever is applicable.
         

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§ 37-12.1-3. Deduction from retained earnings.

In the event that pursuant to the terms of the public works contract it is necessary to deduct any sum from retained earnings, the state or governmental unit or agency thereof shall first apply the deduction against sums not withdrawn and thereafter from the proceeds of the sale of any securities deposited or from the income earned on those securities, whichever is applicable.