§ 42-116-33 — § 42-116-33. Performance review committee.

Rhode Island § 42-116-33

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

Text

§ 42-116-33. Performance review committee.

(a) There is created a seven (7) member performance review committee. The members shall be: (1) the governor or his or her designee; (2) the speaker of the house of representatives or his or her designee; (3) the president of the senate or his or her designee; (4) a minority party member of the general assembly to be designated by the minority leader of the house of representatives and the minority leader of the senate acting jointly; (5) one member selected by the board of directors of the Rhode Island Society of Certified Public Accountants; (6) one member selected by the board of directors of the Rhode Island Association of Realtors, Inc.; and (7) one member who shall be a depositor selected by the joint committee on small business.

(b) The committee shall meet and issue its biannual reports by February 15th and August 15th of each year. The document shall contain the following:

(1) Information regarding the disposition of the assets and liabilities of the corporation;

(2) Information regarding the interest and income, if any, earned by the corporation and the administrative expenses of the corporation;

(3) Information, which updates projections as regards cash inflow and outflow;

(4) Information as to the general fiscal condition of the state and how that condition relates to the activities and operation of the corporation;

(5) Information as to the principal amount of outstanding bonded indebtedness;

(6) A review, which considers subdivisions (1) — (5), of the schedule of payments and a recommendation as to the acceleration or modification of the schedule;

(7) A recommendation, if any, as to necessary and appropriate legislation; and

(8) A brief summary of the document shall be published in a newspaper of general circulation within the state on two (2) successive days.

Legislative History

P.L. 1991, ch. 3, § 4; P.L. 1993, ch. 251, § 1; P.L. 1994, ch. 6, § 1; P.L. 2001, ch. 180, § 130; P.L. 2006, ch. 216, § 53.