Rhode Island § 42-55-29 § 42-55-29. Liberal construction.

Rhode Island Statutes

§ 42-55-29 — § 42-55-29. Liberal construction.

Rhode Island § 42-55-29

Title 42State Affairs and Government

Ch. 42-55Rhode Island Housing and Mortgage Finance Corporation

This text of Rhode Island § 42-55-29 (§ 42-55-29. Liberal construction.) 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 § 42-55-29 (2026).

Text

§ 42-55-29. Liberal construction.
Neither this chapter nor anything contained in this section is or shall be construed
            as a restriction or limitation upon any powers which the corporation might otherwise
            have under any laws of this state, and this chapter is cumulative to those powers.
            The corporation shall use its restricted fund balances only (i) for the provision
            of housing, including, but not limited to, the acquisition, retention, rehabilitation,
            construction, development, operation, and maintenance of housing units for low and
            moderate income persons; activities that support and assist the development of housing
            for low and moderat

Free access — add to your briefcase to read the full text and ask questions with AI

§ 42-55-29. Liberal construction.

Neither this chapter nor anything contained in this section is or shall be construed as a restriction or limitation upon any powers which the corporation might otherwise have under any laws of this state, and this chapter is cumulative to those powers. The corporation shall use its restricted fund balances only (i) for the provision of housing, including, but not limited to, the acquisition, retention, rehabilitation, construction, development, operation, and maintenance of housing units for low and moderate income persons; activities that support and assist the development of housing for low and moderate income persons; and the incidental expenses related to the financing of those activities and (ii) for the general administrative costs of the corporation. This chapter does and shall be construed to provide a complete, additional, and alternative authority for doing the things authorized hereby, and shall be regarded as supplemental and additional to powers conferred by other laws. The issuance of bonds, notes, and other obligations of the corporation under the provisions of this chapter need not comply with the requirements of any other state law applicable to the issuance of bonds, notes, and other obligations, and contracts for the construction and acquisition of any housing developments undertaken pursuant to this chapter need not comply with the provisions of any other state law applicable to contracts for the construction and acquisition of state owned property. No proceedings, notice, or approval under chapter 35 of this title or otherwise, shall be required for the issuance of any bonds, notes, and other obligations, any instrument as security therefor, or in connection with the adoption of any bond resolution, except as is provided in this chapter.