reglab/housing_qa huggingface dataset:
RI Gen L § 19-3.1-2.1 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-3.1 - Trust Powers|Section 19-3.1-2.1 - Permitted investments.

§ 19-3.1-2.1. Permitted investments.In the absence of any express provisions to the contrary, whenever any general statute, special act, regulation, trust indenture, will, or other instrument governing the investment powers of trustees directs, requires, authorizes, or permits investment in United States government obligations, a trustee may invest in and hold these obligations, either directly or in the form of interests in an investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. § 80a-1 et seq., the portfolio of which is limited to United States government obligations and to repurchase agreements fully collateralized by these obligations, and that is rated in the top rating category of any nationally recognized rating services.History of Section.P.L. 1995, ch. 268, § 1.
RI Gen L § 19-3.1-3 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-3.1 - Trust Powers|Section 19-3.1-3 - Financial institution acting as fiduciary.

§ 19-3.1-3. Financial institution acting as fiduciary.A financial institution subject to this chapter shall also have power to accept and execute all of these trusts, and to hold in trust all property, of every description, as may be committed to it by any person or persons, or by any corporation, or by any court of this state or of the United States; and also to accept and execute the office and appointment of executors, administrators, custodians, conservators, guardians of estates, assignees, or receivers of any kind or nature whatever, whether that office or appointment be conferred or made by any person or persons, or by any court of probate or other court; and any court of probate in this state is hereby empowered, in its discretion, to appoint the financial institution as executor, administrator, custodian, conservator and guardian of the estate of any person within its jurisdiction, subject however, to the provisions of § 33-8-8, and provided, that the financial institution may, upon the petition of the surviving spouse, be appointed administrator or custodian upon the estate of a spouse dying intestate; provided, further, that the financial institution shall not be authorized to act in any of the foregoing offices until its acceptance in writing of the appointment shall be filed and recorded in the probate court in which the appointment shall be made.History of Section.P.L. 1995, ch. 82, § 41.
RI Gen L § 19-3.1-4 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-3.1 - Trust Powers|Section 19-3.1-4 - Fiduciary bond given by financial institution.

§ 19-3.1-4. Fiduciary bond given by financial institution.In all cases in which a financial institution shall receive and accept appointment as executor, administrator, custodian, conservator, or guardian of any estate, the financial institution shall give bond in the same manner as provided by law in the case of individuals so appointed. The financial institution shall not be required to give surety upon any bond unless some person pecuniarily interested in the estate, before the bond is given, files a written request, in the court of probate making the appointment, that bond with surety be given, in which case the court may require the financial institution to give bond with surety or sureties satisfactory to the court in the manner provided by law in the case of individuals appointed.History of Section.P.L. 1995, ch. 82, § 41.
RI Gen L § 19-3.1-5 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-3.1 - Trust Powers|Section 19-3.1-5 - Financial institutions administering burial grounds.

§ 19-3.1-5. Financial institutions administering burial grounds.Every financial institution subject to this chapter shall have the power to accept and hold property given by will or otherwise transferred to it in trust for the care and preservation of burial grounds that have been in existence for at least fifty (50) years before the creation of the trust and of the stones, monuments, fences, and other structures thereon, and to administer and apply the trust property in accordance with the terms of the trust; and shall likewise have the power to accept and hold property given to it by will or otherwise transferred to it for the purposes listed in this section and administer the property in accordance with the terms of the trust. Executors may transfer to any financial institution any legacy given for any of the purposes listed in this section and the transfer shall be a valid discharge for the legacy. Trusts for any of the purposes listed in this section are hereby declared to be charitable trusts.History of Section.P.L. 1995, ch. 82, § 41.
RI Gen L § 19-3.1-7 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-3.1 - Trust Powers|Section 19-3.1-7 - Assets equal to capital stock as pledged - Preference over other creditors.

§ 19-3.1-7. Assets equal to capital stock as pledged — Preference over other creditors.A portion of the assets of every financial institution subject to this chapter, equal in value to the par value of its capital stock, shall stand pledged, and shall be taken and considered as the security required by law, for the faithful performance of the institution's duties as trustee, executor, administrator, custodian, conservator, guardian, assignee or receiver, except as otherwise provided, and for the deposits made by executors, administrators, custodians, conservators, assignees, or receivers, trustees, or guardians. In case of loss, any person beneficially entitled to these estates, and any executor, administrator, custodian, conservator, assignee, or receiver, trustee, or guardian making the deposits shall be first indemnified in full from the amounts so pledged in preference to all other creditors.History of Section.P.L. 1995, ch. 82, § 41.
RI Gen L § 19-3.1-8 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-3.1 - Trust Powers|Section 19-3.1-8 - Deposits by financial institutions with general treasurer.

§ 19-3.1-8. Deposits by financial institutions with general treasurer.(a) Every financial institution subject to this chapter shall deposit with the general treasurer an amount that is at all times equal in value to twenty percent (20%) of the entire capital stock of the financial institution, in:(1) Bonds, of at least a double A ("AA") rating or equivalent, of this state or of any state or of the United States;(2) Bonds, rated at least double A ("AA") or equivalent, notes, or other financial obligations of any town or city in this state;(3) Any securities of the classes in which the sinking fund commission of this state is authorized to invest the moneys received by it;(4) First mortgages on improved real estate in this state of the class required for financial institution investments;(5) Mortgages insured and debentures issued by the federal housing administration; or(6) Obligations of national mortgage associations.(b) These investments shall be held by the general treasurer as an additional security for the faithful performance by the financial institution of its duties as trustee, executor, custodian, conservator, guardian, assignee, or receiver, and also as an additional security for the repayment of deposits with the financial institution by executors, administrators, custodians, conservators, guardians, assignees, or receivers, or trustees on special agreement, made to exonerate the depositors under this title from personal liability to the estates on account of which these deposits were made. The parties intended to be secured by the deposits shall, in case of loss, be first fully indemnified out of the deposit, in preference to all other creditors of the financial institution. However, whenever the deposit or any part of it consists of mortgages on real estate, the financial institution so depositing it shall execute an assignment of the deposit and of the debts secured by it in favor of the general treasurer, in trust, for the uses and purposes listed in this section. No financial institution shall accept or assume to perform any of the trust duties mentioned in this section or receive any deposits from any of the trustees until the deposit has been made. If the security required by this section is one that is maintained in the Federal Reserve book entry system or the depository trust company book entry system or any similar entity, then the financial institution required to make the deposit shall designate the general treasurer as the pledgee of the security and provide written notification to the general treasurer identifying the security.History of Section.P.L. 1995, ch. 82, § 41.
RI Gen L § 19-3.1-9 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-3.1 - Trust Powers|Section 19-3.1-9 - Certificates of deposit - Interest and income - Substitution of securities.

§ 19-3.1-9. Certificates of deposit — Interest and income — Substitution of securities.Upon the receipt by the general treasurer of the securities from the financial institution, the general treasurer shall give to the financial institution a certificate stating the securities and amount of each. The general treasurer shall at all times pay over to the financial institution any interest received upon the deposited securities, and shall at all times permit the institution, by its treasurer or other authorized agent, to examine the securities, to receive all coupons on the securities as they shall mature, and to collect for the use of the financial institution all interest due on the securities. The general treasurer shall also permit the financial institution to retire any deposited securities on substituting other securities of the classes mentioned above, to an amount that the market value of the whole deposit shall not be less than the amount required by this title.History of Section.P.L. 1995, ch. 82, § 41.
RI Gen L § 19-3.1-10 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-3.1 - Trust Powers|Section 19-3.1-10 - Severability.

§ 19-3.1-10. Severability.If any provision of this chapter or the application of this chapter to any person or circumstances is held invalid or unconstitutional, the invalidity or unconstitutionality shall not affect other provisions or applications of this chapter that can be given effect without the invalid or unconstitutional provision or application, and to this end the provisions of this chapter are declared to be severable.History of Section.P.L. 1995, ch. 82, § 41.
RI Gen L § 19-4-1 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-4 - Regulatory Oversight|Section 19-4-1 - Examination on application by depositors, stockholders, directors, or trustees.

§ 19-4-1. Examination on application by depositors, stockholders, directors, or trustees.Upon the written application, under oath, to the director, or the director's designee, by depositors representing five percent (5%) of the deposits of any financial institution, as shown by the last published return of the financial institution, or upon the written application to the director, or the director's designee, of persons holding at least twenty-five percent (25%) of the outstanding capital stock of any regulated institution, or upon the written application to the director, or the director's designee, of at least one third (⅓) in number of the board of directors or trustees of any regulated institution, setting forth their interest and the reasons for making an examination, and requesting him or her to examine the regulated institution, the director, or the director's designee, may make or cause to be made a full investigation or examination of its affairs as provided by law.History of Section.P.L. 1995, ch. 82, § 42; P.L. 1997, ch. 98, § 4.
RI Gen L § 19-4-4 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-4 - Regulatory Oversight|Section 19-4-4 - Audits.

§ 19-4-4. Audits.Every regulated institution audited by a licensed, independent certified public accountant pursuant to applicable federal law or regulation shall submit a copy of the audit to the director, or the director's designee, within thirty (30) days of receipt of the audit.History of Section.P.L. 1995, ch. 82, § 42.
RI Gen L § 19-4-5 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-4 - Regulatory Oversight|Section 19-4-5 - Quarterly statement of condition of regulated institutions.

§ 19-4-5. Quarterly statement of condition of regulated institutions.At least once every three (3) months, every regulated institution shall prepare a statement showing the condition of the regulated institution as it appears upon its books, in the form of a balance sheet prepared in accordance with generally accepted accounting principles. This statement shall be posted in a conspicuous place, where it may be easily read by the public.History of Section.P.L. 1995, ch. 82, § 42.
RI Gen L § 19-4-6 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-4 - Regulatory Oversight|Section 19-4-6 - Time and frequency of reports of financial institutions and credit unions.

§ 19-4-6. Time and frequency of reports of financial institutions and credit unions.Every financial institution and credit union, at those times that the director, or the director's designee, shall require, but at least once in each calendar year, shall render a report to the director, or the director's designee, signed and sworn to by its president, or a vice-president, and also by its secretary, treasurer, or auditor, and attested by at least three (3) of the members of its board of directors, showing accurately the condition of the financial institution or credit union at the close of business on any past day specified by the director, or the director's designee, in the form and containing the information that the director, or the director's designee, shall require; and the report shall be transmitted to the director, or the director's designee, within thirty (30) days, exclusive of Sundays and holidays, after the director's request. At the time of filing each report the sum of fifty-five dollars ($55.00) shall be paid by the financial institution or credit union to the director to and for the use of the state.History of Section.P.L. 1995, ch. 82, § 42; P.L. 2002, ch. 65, art. 13, § 18.
RI Gen L § 19-4-7 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-4 - Regulatory Oversight|Section 19-4-7 - Balance sheet form - Publication of report.

§ 19-4-7. Balance sheet form — Publication of report.Once each calendar year, every financial institution, at its own expense, shall publish a report in the form of a balance sheet, in a newspaper in the city or town in which the financial institution is located. If there is no newspaper published in the city or town where the financial institution is located, then the report shall be published in a newspaper published in a city or town nearby.History of Section.P.L. 1995, ch. 82, § 42.
RI Gen L § 19-4-8 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-4 - Regulatory Oversight|Section 19-4-8 - Delay of reports.

§ 19-4-8. Delay of reports.Any financial institution or credit union that delays transmission of any of the reports required by this chapter beyond the limits set by this chapter, unless additional time is granted in writing for proper cause by the director, or the director's designee, shall pay a penalty of twenty-five dollars ($25.00) for each day of delay to and for the use of the state.History of Section.P.L. 1995, ch. 82, § 42.
RI Gen L § 19-4-9 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-4 - Regulatory Oversight|Section 19-4-9 - Reports to general assembly.

§ 19-4-9. Reports to general assembly.The director shall make available, by electronic means, the annual reports filed by all financial institutions and credit unions regulated by him or her and shall provide such reports to members of the public and general assembly upon request.History of Section.P.L. 1995, ch. 82, § 42; P.L. 2015, ch. 82, § 9; P.L. 2015, ch. 105, § 9.
RI Gen L § 19-4-10 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-4 - Regulatory Oversight|Section 19-4-10 - Insurance of deposits.

§ 19-4-10. Insurance of deposits.Any regulated institution permitted by law to receive deposits, except a financial institution prevented from accepting deposits by its bylaws or agreement to form, shall maintain federal deposit insurance. Failure to maintain federal deposit insurance shall be deemed sufficient cause for the director, or the director's designee, to revoke the agreement to form or right to do business of the noncomplying regulated institution.History of Section.P.L. 1995, ch. 82, § 42.
RI Gen L § 19-4-11 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-4 - Regulatory Oversight|Section 19-4-11 - Summons of witnesses - Obstruction or refusal to give information - Prosecution of violations.

§ 19-4-11. Summons of witnesses — Obstruction or refusal to give information — Prosecution of violations.The director, or the director's designee, may summon the directors, trustees, employees, officers, or agents of any regulated institution and any other witnesses that he or she thinks proper, and examine them relative to the affairs, transactions, and condition of the regulated institution, and for that purpose may administer oaths. Whoever, without justifiable cause, refuses to appear and testify when so required, or obstructs the director, or any of the director's designees, in the performance of his or her duties, shall be punished by a fine not exceeding one thousand dollars ($1,000) or by imprisonment for not more than one year. If any person refuses to furnish any information requested by the director, or any of the director's designees, under the authority of any chapter in this title, the director, or the director's designee, may apply to the superior court and that court shall cause the person to come before it and shall inquire into the facts set forth in the application and may commit the person to jail until he or she shall comply with the request. If, in the opinion of the director, or the director's designee, the regulated institution or its officers or trustees have violated any law relative to the regulated institution, the director, or the director's designee, may report the violation to the attorney general, who may, on behalf of the state, institute a prosecution or other appropriate proceedings for the violation.History of Section.P.L. 1995, ch. 82, § 42.
RI Gen L § 19-4-12 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-4 - Regulatory Oversight|Section 19-4-12 - Order to cease unlawful or unsafe practices - Impairment of capital - Appeal.

§ 19-4-12. Order to cease unlawful or unsafe practices — Impairment of capital — Appeal.(a) Whenever it appears to the director, or the director's designee, that a regulated institution has violated its agreement to form, or any law or regulation, or is conducting its business in an unauthorized or unsafe manner, or the regulated institution has been notified by its federal deposit insurer of its intent to terminate deposit insurance, the director, or the director's designee, may exercise any or all of the following powers:(1) Restrict the withdrawal of deposits when he or she finds the restriction necessary for the protection of depositors;(2) Order any person to cease violating any provision of the banking laws of this state or any rule or regulation issued thereunder, or cease engaging in any unsafe or unsound or deceptive banking or credit union practices;(3) Order that capital be restored, to the extent that the capital of the financial institution or credit union has been impaired;(4) Suspend or remove any director, committee member, officer, or employee who becomes ineligible to hold his or her position or who, after receipt of an order to cease under this chapter, violates the banking laws of this state or a rule, regulation, or order issued thereunder, or who is reckless or incompetent in the conduct of the financial institution's or credit union's business. Each suspension or removal order shall specify the grounds therefor, and a copy of the order shall be sent to the financial institution or credit union concerned.(b) Any action taken pursuant to subsection (a) may be taken in the director's, or the director's designee's, discretion before or after affording the regulated institution and/or affected individuals an opportunity for hearing. When an action is not preceded by an opportunity for hearing, such an opportunity must be afforded to the regulated institution and/or affected individuals within a reasonable time after the action; provided further, that a request for hearing subsequent to an action by the director, or the director's designee, shall not act to stay the action of the director, or the director's designee, pending the outcome of the hearing, although the director, or the director's designee, may, in his or her discretion, grant a stay. All hearings shall be conducted pursuant to chapter 35 of title 42.History of Section.P.L. 1995, ch. 82, § 42; P.L. 2013, ch. 50, § 4; P.L. 2013, ch. 57, § 4.
RI Gen L § 19-4-13 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-4 - Regulatory Oversight|Section 19-4-13 - Continuance of business after suspension prohibited.

§ 19-4-13. Continuance of business after suspension prohibited.After suspension of the right of a regulated institution to do business, the regulated institution affected shall cease to have any right to continue its business, except for the purpose of winding up the affairs of the regulated institution. Any officers, directors, or agents of the regulated institution thereafter selling shares of the regulated institution, or soliciting business for the regulated institution, shall be guilty of a misdemeanor, and upon conviction thereof shall be fined not more than one thousand dollars ($1,000) for each offense.History of Section.P.L. 1995, ch. 82, § 42.
RI Gen L § 19-4-14 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-4 - Regulatory Oversight|Section 19-4-14 - Appeal of orders - Enforcement.

§ 19-4-14. Appeal of orders — Enforcement.(a) Any person or regulated institution aggrieved by a final order of the director, or the director's designee, made under the authority of this title may appeal to the superior court pursuant to chapter 35 of title 42.(b) The director, or the director's designee, may apply to the superior court to enforce any administrative order issued.History of Section.P.L. 1995, ch. 82, § 42.
RI Gen L § 19-4-15 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-4 - Regulatory Oversight|Section 19-4-15 - Examination of books to determine violations - Prosecution of offenses.

§ 19-4-15. Examination of books to determine violations — Prosecution of offenses.(a) The director, or the director's designee, shall have authority to examine, at any time, the accounts, books, and papers of any person in the business of receiving money on deposit, in order to ascertain whether the person has violated or is violating any provision of this title.(b) Any person carrying on an unauthorized banking business shall forfeit to the state one thousand dollars ($1,000) a day for every day or part thereof during which the violation continues.History of Section.P.L. 1995, ch. 82, § 42.
RI Gen L § 19-4-16 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-4 - Regulatory Oversight|Section 19-4-16 - Rules and regulations.

§ 19-4-16. Rules and regulations.The director, or the director's designee, may adopt reasonable rules and regulations for the implementation and administration of this title.History of Section.P.L. 1995, ch. 82, § 42.