Rhode Island § 42-116-21 § 42-116-21. Authorization to accept appropriated monies.

Rhode Island Statutes

§ 42-116-21 — § 42-116-21. Authorization to accept appropriated monies.

Rhode Island·Title 42 State Affairs and Government·Ch. 42-116 Rhode Island Depositors Economic Protection Corporation

§ 42-116-21. Authorization to accept appropriated monies.
(a) The corporation is authorized to accept any monies that may be appropriated from time
            to time by the general assembly for effectuating its corporate purposes including,
            without limitation, the payment of the initial expenses of administration and operation
            of the corporation and the establishment of reserves or contingency funds to be available
            for the payment of the principal of and the interest on any bonds, notes, certificates
            or other obligation of the corporation.
         
(b) The corporation is authorized to participate in any federal plan designed 

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§ 42-116-21. Authorization to accept appropriated monies.

(a) The corporation is authorized to accept any monies that may be appropriated from time to time by the general assembly for effectuating its corporate purposes including, without limitation, the payment of the initial expenses of administration and operation of the corporation and the establishment of reserves or contingency funds to be available for the payment of the principal of and the interest on any bonds, notes, certificates or other obligation of the corporation.

(b) The corporation is authorized to participate in any federal plan designed to alleviate a banking crisis and to accept any federal funds made available for that purpose.

Rhode Island § 42-116-21 (§ 42-116-21. Authorization to accept appropriated monies.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.