reglab/statecodes huggingface dataset:
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.1 - Collateralization of Public Deposits › Section 35-10.1-9. - Federal deposit insurance.

§ 35-10.1-9. Federal deposit insurance.
Public deposits which are fully insured by federal deposit insurance, subject to deposit insurance limitations, shall not be required to be secured by eligible collateral as provided by this chapter.
History of Section.
P.L. 1991, ch. 44, art. 74, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.1 - Collateralization of Public Deposits › Section 35-10.1-10. - Annual report.

§ 35-10.1-10. Annual report.
An annual report shall be made sixty (60) days after the end of each calendar year by the general treasurer to the general assembly on the effectiveness of this chapter.
History of Section.
P.L. 1991, ch. 44, art. 74, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.1 - Collateralization of Public Deposits › Section 35-10.1-11. - Effective date.

§ 35-10.1-11. Effective date.
This chapter shall take effect June 7, 1991, and shall be applicable only to those deposits made subsequent to October 1, 1991.
History of Section.
P.L. 1991, ch. 44, art. 74, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.2 - Rhode Island Local Government Investment Pool › Section 35-10.2-1. - Short title.

§ 35-10.2-1. Short title.
This chapter shall be known and may be cited as the “Rhode Island Local Government Investment Pool Act”.
History of Section.
P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.2 - Rhode Island Local Government Investment Pool › Section 35-10.2-2. - Purpose.

§ 35-10.2-2. Purpose.
The purpose of this chapter is to enable eligible governmental entities to participate with the state in providing maximum opportunities for the investment of public funds consistent with safety and protection of such funds. It is the intention of the general assembly in enabling the general treasurer with the approval of the state investment commission to establish the said investment pools, that the general treasurer and state investment commission consider the importance of retaining deposits with the banks located and operating within the state, that further consideration be given to a bank’s commitment to the various communities within the state, the bank’s role as an employer within the state, as well as the bank’s commitment to the growth of economic development within the state.
History of Section.
P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.2 - Rhode Island Local Government Investment Pool › Section 35-10.2-3. - Definitions.

§ 35-10.2-3. Definitions.
As used in this chapter, the following terms, unless the context requires a different interpretation, have the following meanings:
(1)
“Commission” means the state investment commission;
(2)
“Participation Unit” means the equal proportionate share into which the beneficial interest in the trust is divided and includes a fraction of a unit as well as whole units.
History of Section.
P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.2 - Rhode Island Local Government Investment Pool › Section 35-10.2-4. - Establishing investment pools.

§ 35-10.2-4. Establishing investment pools.
Notwithstanding and general or special law or regulation to the contrary, the general treasurer may establish, subject to the approval of the commission, one or more investment pool trust funds containing certain monies in accordance with § 35-10.2-5.
History of Section.
P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.2 - Rhode Island Local Government Investment Pool › Section 35-10.2-5. - Monies included in investment pools.

§ 35-10.2-5. Monies included in investment pools.
Each investment pool trust fund may contain any or a combination of any of the following:
(1)
Monies of the several funds of the state according to § 35-10-2;
(2)
The proceeds of all bond issues not immediately required; or
(3)
The funds under the custody of agencies, authorities, commissions, boards, municipalities, political subdivisions and other public units of the state.
History of Section.
P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.2 - Rhode Island Local Government Investment Pool › Section 35-10.2-6. - Trustee of the funds.

§ 35-10.2-6. Trustee of the funds.
The general treasurer shall serve as trustee for each established investment pool trust fund in accordance with this chapter.
History of Section.
P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.2 - Rhode Island Local Government Investment Pool › Section 35-10.2-7. - Investment of funds.

§ 35-10.2-7. Investment of funds.
The general treasurer shall invest each investment pool trust fund in instruments prescribed, and in amounts approved, by the commission in accordance with § 35-10-6.
History of Section.
P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.2 - Rhode Island Local Government Investment Pool › Section 35-10.2-8. - Participation units.

§ 35-10.2-8. Participation units.
The general treasurer is authorized to sell to all agencies, authorities, commissions, boards, municipalities, political subdivisions, and other public units of the state, participation units in any such combined investment trust fund. Such participation units are made legal investments for all the funds under the custody of such agencies, authorities, commissions, boards, municipalities, political subdivisions, and other public units of the state.
History of Section.
P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.2 - Rhode Island Local Government Investment Pool › Section 35-10.2-9. - Reporting.

§ 35-10.2-9. Reporting.
(a)
The general treasurer shall keep a separate account of each participant having funds in the investment pool. Each separate account shall record the individual amounts deposited in the investment pool, the date of withdrawals, and the earnings credited or paid. The general treasurer shall report monthly the status of the respective account to each participant having funds in the pool during the previous month.
(b)
At the end of each fiscal year, the general treasurer shall submit to the governor and the state auditor a summary of the activity of the investment pool. The summary shall indicate the quantity of funds deposited; the earnings of the pool; the investments purchased, sold, or exchanged; the administrative expenses of the investment pool; and such other information as the state treasurer deems relevant.
History of Section.
P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.2 - Rhode Island Local Government Investment Pool › Section 35-10.2-10. - Rules and regulations.

§ 35-10.2-10. Rules and regulations.
The general treasurer, subject to the approval of the commission, shall by rule prescribe the time periods for investments in the investment pool and the procedure for withdrawal of funds from the investment pool. The state treasurer shall promulgate such other rules as are deemed necessary for the efficient operation of the investment pool.
History of Section.
P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.2 - Rhode Island Local Government Investment Pool › Section 35-10.2-11. - Severability.

§ 35-10.2-11. Severability.
The holding of any section or sections or parts thereof to be void, ineffective, or unconstitutional for any cause shall not be deemed to affect any other section or part thereof.
History of Section.
P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.3 - Divestiture of Investments in Iran › Section 35-10.3-3. - Identification of companies. [Expires July 1, 2018.]

§ 35-10.3-3. Identification of companies. [Expires July 1, 2018.]
(a)
Within ninety (90) days following the effective date of this chapter, the public fund shall make its best efforts to identify all scrutinized companies in which the public fund has direct or indirect holdings or could possibly have such holdings in the future. Such efforts shall include, as appropriate:
(1)
Reviewing and relying, as appropriate in the public fund’s judgment, on publicly available information regarding companies with business operations in Iran, including information provided by nonprofit organizations, research firms, international organizations, and government entities; and/or
(2)
Contacting asset managers contracted by the public fund that invest in companies with business operations in Iran; and/or
(3)
Contacting other institutional investors that have divested from and/or engaged with companies that have business operations in Iran.
(b)
By the first meeting of the public fund following the ninety (90) day period described in subsection (a), the public fund shall assemble all scrutinized companies identified into a “scrutinized companies list.”
(c)
The public fund shall update the scrutinized companies list on an annual basis based on evolving information from, among other sources, those listed in subsection (a).
History of Section.
P.L. 2013, ch. 173, § 1; P.L. 2013, ch. 225, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.3 - Divestiture of Investments in Iran › Section 35-10.3-5. - Required actions — Reporting. [Expires July 1, 2018.]

§ 35-10.3-5. Required actions — Reporting. [Expires July 1, 2018.]
(a)
The public fund shall file a publicly available report to the Rhode Island general assembly and office of the attorney general that includes the scrutinized companies list within thirty (30) days after the list is created.
(b)
Annually thereafter, the public fund shall file a publicly available report to the Rhode Island general assembly and the office of the attorney general and send a copy of that report to the United States Presidential Special Envoy to Iran (or an appropriate designee or successor) that includes:
(1)
A summary of correspondence with companies engaged by the public fund under paragraphs 35-10.3-4(1)(ii) and 35-10.3-4(1)(iii);
(2)
All investments sold, redeemed, divested, or withdrawn in compliance with subdivision 35-10.3-4(2);
(3)
All prohibited investments under subdivision 35-10.3-4(3); and
(4)
Any progress made under subdivision 35-10.3-4(5).
History of Section.
P.L. 2013, ch. 173, § 1; P.L. 2013, ch. 225, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.3 - Divestiture of Investments in Iran › Section 35-10.3-6. - Provisions for repeal of chapter. [Expires July 1, 2018.]

§ 35-10.3-6. Provisions for repeal of chapter. [Expires July 1, 2018.]
This chapter shall be repealed upon affirmative action of the general assembly. Provided, that in determining whether to repeal this chapter, by way of suggestion and guidance only and without binding or in any way inhibiting the discretion of future sessions of the general assembly, it is submitted that the occurrence of any of the following should be construed and deemed to be a basis for repealing this chapter:
(1)
Iran is removed from the United States Department of State’s list of countries that have been determined to repeatedly provide support for acts of international terrorism; or
(2)
The President of the United States determines and certifies that state legislation similar to this section interferes with the conduct of United States foreign policy.
History of Section.
P.L. 2013, ch. 173, § 1; P.L. 2013, ch. 225, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.3 - Divestiture of Investments in Iran › Section 35-10.3-7. - Other legal obligations. [Expires July 1, 2018.]

§ 35-10.3-7. Other legal obligations. [Expires July 1, 2018.]
With respect to actions taken in compliance with this chapter, including all good faith determinations regarding companies as required by this chapter, the public fund shall be exempt from any conflicting statutory or common law obligations, including any such obligations with respect to choice of asset managers, investment funds, or investments for the public fund’s securities portfolios.
History of Section.
P.L. 2013, ch. 173, § 1; P.L. 2013, ch. 225, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.3 - Divestiture of Investments in Iran › Section 35-10.3-8. - Reinvestment in certain companies with scrutinized active business operations. [Expires July 1, 2018.]

§ 35-10.3-8. Reinvestment in certain companies with scrutinized active business operations. [Expires July 1, 2018.]
(a)
Notwithstanding anything herein to the contrary, the public fund shall be permitted to cease divesting from certain scrutinized companies pursuant to § 35-10.3-4 and/or reinvest in certain scrutinized companies from which it divested pursuant to § 35-10.3-4 if clear and convincing evidence shows that the value for all assets under management by the public fund becomes equal to or less than ninety-nine and one-half percent (99.50%) or fifty (50) basis points of the hypothetical value of all assets under management by the public fund assuming no divestment for any company had occurred under subdivision 35-10.3-4(2).
(b)
Cessation of divestment, reinvestment, and/or any subsequent ongoing investment authorized by this section shall be strictly limited to the minimum steps necessary to avoid the contingency set forth in subsection (a). For any cessation of divestment, reinvestment, and/or subsequent ongoing investment authorized by this section, the public fund shall provide a written report to the Rhode Island general assembly and the office of the attorney general in advance of initial reinvestment, updated semi-annually thereafter as applicable, setting forth the reasons and justification, supported by clear and convincing evidence, for its decisions to cease divestment, reinvest, and/or remain invested in companies with scrutinized active business operations.
(c)
This section has no application to reinvestment in companies on the ground that they have ceased to be a scrutinized company engaged in active business operations.
History of Section.
P.L. 2013, ch. 173, § 1; P.L. 2013, ch. 225, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.3 - Divestiture of Investments in Iran › Section 35-10.3-9. - Enforcement. [Expires July 1, 2018.]

§ 35-10.3-9. Enforcement. [Expires July 1, 2018.]
The attorney general is charged with enforcing the provisions of this chapter and, through any lawful designee, may bring such actions in court as are necessary to do so.
History of Section.
P.L. 2013, ch. 173, § 1; P.L. 2013, ch. 225, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-10.3 - Divestiture of Investments in Iran › Section 35-10.3-10. - Severability. [Expires July 1, 2018.]

§ 35-10.3-10. Severability. [Expires July 1, 2018.]
If any one or more provision, section, subsection, sentence, clause, phrase, or word of this chapter or the application thereof to any person or circumstance is found to be invalid, illegal, unenforceable or unconstitutional, the same is hereby declared to be severable and the balance of this chapter shall remain effective and functional notwithstanding such invalidity, illegality, unenforceability or unconstitutionality. The Rhode Island general assembly hereby declares that it would have passed this chapter, and each provision, section, subsection, sentence, clause, phrase or word thereof, irrespective of the fact that any one or more provision, section, subsection, sentence, clause, phrase, or word be declared invalid, illegal, unenforceable or unconstitutional, including, but not limited to, each of the engagement, divestment, and prohibition provisions of this chapter.
History of Section.
P.L. 2013, ch. 173, § 1; P.L. 2013, ch. 225, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-11 - Uniform Facsimile Signatures of Public Officials › Section 35-11-1. - Definitions.

§ 35-11-1. Definitions.
As used in this chapter:
(1)
“Authorized officer” means any official of this state or any of its departments, agencies, or other instrumentalities or any of its political subdivisions whose signature on a public security or instrument of payment is required or permitted.
(2)
“Facsimile signature” means a reproduction, by engraving, imprinting, stamping, or other means, of the manual signature of the authorized officer.
(3)
“Instrument of payment” means a check, draft, warrant, or order for the payment, delivery, or transfer of funds.
(4)
“Public security” means a bond, note, certificate of indebtedness, or other obligation for the payment of money, issued by this state or by any of its departments, agencies, or other instrumentalities or by any of its political subdivisions.
History of Section.
P.L. 1967, ch. 122, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-11 - Uniform Facsimile Signatures of Public Officials › Section 35-11-2. - Facsimile signature.

§ 35-11-2. Facsimile signature.
(a)
Any authorized officer may execute or cause to be executed with a facsimile signature in lieu of his or her manual signature any:
(1)
Public security; provided, that at least one signature required or permitted to be placed thereon, which may be the signature of an authorized signer of a bank, trust company or other banking or financial institution action as trustee, authenticating agent, transfer agent, or similar agent, shall be manually subscribed; and
(2)
Instrument of payment.
(b)
The facsimile signature of an authorized officer has the same legal effect as his or her manual signature.
History of Section.
P.L. 1967, ch. 122, § 1; P.L. 1983, ch. 103, § 2.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-11 - Uniform Facsimile Signatures of Public Officials › Section 35-11-3. - Use of facsimile seal.

§ 35-11-3. Use of facsimile seal.
When the seal of this state or any of its departments, agencies, or other instrumentalities or of any of its political subdivisions is required in the execution of a public security or instrument of payment, an authorized officer may cause the seal to be printed, engraved, stamped, or otherwise placed in facsimile thereon. The facsimile seal has the same legal effect as the impression of the seal.
History of Section.
P.L. 1967, ch. 122, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-11 - Uniform Facsimile Signatures of Public Officials › Section 35-11-4. - Violation and penalty.

§ 35-11-4. Violation and penalty.
Any person who with intent to defraud uses on a public security or an instrument of payment: (1) a facsimile signature, or any reproduction of it, of any authorized officer; or (2) any facsimile seal, or any reproduction of it, of this state or any of its departments, agencies, or other instrumentalities or of any of its political subdivisions; is guilty of a felony and shall be punished by a fine of not more than one thousand dollars ($1,000) or imprisoned not more than five (5) years, or both.
History of Section.
P.L. 1967, ch. 122, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-11 - Uniform Facsimile Signatures of Public Officials › Section 35-11-5. - Uniformity of interpretation.

§ 35-11-5. Uniformity of interpretation.
This chapter shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it.
History of Section.
P.L. 1967, ch. 122, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-11 - Uniform Facsimile Signatures of Public Officials › Section 35-11-6. - Short title.

§ 35-11-6. Short title.
This chapter may be cited as the “Uniform Facsimile Signatures of Public Officials Act”.
History of Section.
P.L. 1967, ch. 122, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-11 - Uniform Facsimile Signatures of Public Officials › Section 35-11-7. - Severability.

§ 35-11-7. Severability.
If any provision of this chapter or the application thereof to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of the chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable.
History of Section.
P.L. 1967, ch. 122, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-2. - Purpose and findings.

§ 35-12-2. Purpose and findings.
The purpose of this chapter is to authorize and implement a system of financial planning which would allow the university of Rhode Island (the “university”) to more accurately match revenues and expenditures for externally funded research programs for each fiscal year. The general assembly has found and hereby declares that it is in the public interest to encourage independent research activity at the university and further that it is essential to the financial well being of the state and the university that revenues from externally funded research programs be allocated to the fiscal years in which they accrue and be matched to the expenditures for the programs that are incurred for that fiscal year. The general assembly has further found that under the present system revenues are often received after the close of the fiscal year although the expenditures to which they are matched were incurred prior to the close of the fiscal year, and that, in fact, under certain programs, funds must be expended and then reimbursement sought from the contracting agency at a later date, often after the close of the fiscal year.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-3. - Definitions.

§ 35-12-3. Definitions.
As used in this chapter, the following words and terms shall have the following meanings unless the context shall indicate another or different meaning or intent:
(1)
“Accounts” means accounts receivable, representing amounts due or owing to the university from contracts with the federal government or other independent entities for research activities undertaken by the university, the obligation for the payment of which accounts has arisen.
(2)
“Corporation” means the governmental agency and public instrumentality authorized, created, and established pursuant to § 35-12-4.
(3)
“Notes” means the notes, securities, or other obligations or evidences of indebtedness issued by the corporation pursuant to this chapter, all of which shall be issued under the name of or known as obligations of the “university of Rhode Island research corporation”.
(4)
“State” means the state of Rhode Island.
(5)
“University” means the university of Rhode Island.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-4. - Creation — Powers — Construction of chapter — Termination.

§ 35-12-4. Creation — Powers — Construction of chapter — Termination.
(a)
There is hereby authorized, created, and established a public corporation of the state having a legal existence distinct from the state and not constituting a department of state government, to be known as the university of Rhode Island research corporation, with such powers as are set forth in this chapter, for the purposes of purchasing, taking, or acquiring accounts of the university, selling these accounts, and borrowing funds secured by these accounts.
(b)
It is the intent of the general assembly by the passage of this chapter to vest in the corporation all powers, authority, rights, privileges, and titles which may be necessary to enable it to accomplish the purposes set forth in this chapter, and this chapter and the powers granted hereby shall be liberally construed in conformity with these purposes.
(c)
The corporation and its corporate existence shall continue until terminated by law or until the corporation shall cease entirely and continuously to conduct or be involved in any business whatsoever in furtherance of its purposes; provided, that no termination shall take effect so long as the corporation shall have notes or other obligations outstanding, unless adequate provision shall have been made for the payment thereof pursuant to the documents securing the obligations or to that law. Upon termination of the existence of the corporation, all its rights and properties shall pass to and be vested in the university. At no time shall the assets or other property of the corporation inure to the benefit of any person or other corporation or entity.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-5. - General powers.

§ 35-12-5. General powers.
The corporation shall have all the powers necessary and convenient to carry out and effectuate the purposes and provisions of this chapter, including, but not limited to, the power to:
(1)
Sue and be sued, complain and defend, in its corporate name;
(2)
Have a seal which may be altered at pleasure, and use the seal by causing it, or a facsimile thereof, to be impressed or affixed or in any other manner reproduced;
(3)
Purchase, take, receive, or otherwise acquire, own, hold, use, and otherwise deal in and with, intangible personal property, or any interest therein;
(4)
Sell, convey, pledge, exchange, transfer, and otherwise dispose of all or any part of accounts for such consideration and upon such terms and conditions as the corporation shall determine;
(5)
Make contracts and incur liabilities, and borrow money at such rates of interest as the corporation may determine;
(6)
Make and execute all contracts, agreements, and instruments necessary or convenient in the exercise of the powers and functions of the corporation granted by this chapter;
(7)
Invest and reinvest its funds;
(8)
Conduct its activities, carry on its operations, and have offices and exercise the powers granted by this chapter;
(9)
Make and alter by-laws, not inconsistent with this chapter, for the administration and regulation of the affairs of the corporation, and the by-laws may contain provisions indemnifying any person who is or was a director, officer, employee, or agent of the corporation, in the manner and to the extent provided in § 7-1.2-814; and
(10)
Have and exercise all powers necessary or convenient to effect its purposes.
History of Section.
P.L. 1982, ch. 324, § 1; P.L. 2005, ch. 36, § 23; P.L. 2005, ch. 72, § 23.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-6. - Additional powers.

§ 35-12-6. Additional powers.
In addition to the powers enumerated in § 35-12-5, the corporation shall have power to:
(1)
Purchase accounts from the university for such consideration and upon such terms and conditions as the corporation shall determine;
(2)
Pledge purchased accounts as security for any borrowings undertaken by the corporation or sell the accounts for such consideration and on such terms and conditions as the corporation shall determine;
(3)
Borrow money and issue notes and provide for the rights of the holders thereof, and secure the notes by assignment, pledge, or granting of a security interest in accounts, including, without limitation, all or a part of its interest in accounts for the purpose of providing funds to effectuate its purposes under this chapter; and
(4)
Create and establish such other fund or funds as may be necessary or desirable for its corporate purposes.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-7. - Directors and officers.

§ 35-12-7. Directors and officers.
(a)
The powers of the corporation shall be vested in a board of directors consisting of the following seven (7) members:
(1)
Chairperson of the board of governors for higher education;
(2)
Commissioner of higher education;
(3)
State budget officer;
(4)
President of the university;
(5)
Vice president for business and finance of the university;
(6)
Controller of the university; and
(7)
Vice president for academic affairs of the university.
(b)
The directors shall receive no compensation for the performance of their duties.
(c)
The board of directors shall elect one of its members to serve as chairperson. Four (4) directors shall constitute a quorum and any action to be taken by the corporation under the provisions of this chapter may be authorized by resolution approved by at least four (4) of the directors present and voting at any regular or special meeting at which a quorum is present.
(d)
In addition to electing a chairperson, the board of directors shall appoint a secretary and such additional officers as they shall deem appropriate.
(e)
Any action taken by the corporation under the provisions of this chapter may be authorized by vote at any regular or special meeting, and the vote shall take effect immediately.
(f)
Any action required by this chapter to be taken at a meeting of the board of directors, or any action which may be taken at a meeting of the board of directors, or committee thereof, may be taken without a meeting if a consent in writing, setting forth the action so to be taken, shall be signed before or after that action by all of the directors, or all of the members of the committee, as the case may be.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-9. - Security for notes.

§ 35-12-9. Security for notes.
(a)
The principal of and interest on any notes issued by the corporation may be secured by a pledge or assignment of any revenues and receipts of the corporation and may be secured by a security interest or other instrument covering all or any part of one or more accounts acquired by the corporation pursuant to the provisions of this chapter.
(b)
The resolution under which the notes are authorized to be issued and the security interest or other instrument may contain agreements and provisions respecting the servicing of the loans covered thereby, the fixing and collection of payments or repayments or other revenues therefrom, the creation and maintenance of special funds from these revenues, and the rights and remedies available in the event of default, all as the corporation shall deem advisable.
(c)
Each pledge, assignment, agreement, security interest, or other instrument made for the benefit or security of any of the notes of the corporation shall continue in effect until the principal of and interest on the notes for the benefit of which the notes was made shall have been fully paid, or until provision shall have been made for payment in the manner provided in the resolution under which the notes were authorized.
(d)
Any pledge made by the corporation shall be valid and binding from the time it is made. The money, accounts, or property pledged and thereafter received by the corporation shall immediately be subject to the lien of the pledge without physical delivery or further act. The lien of the pledge shall be valid and binding against all parties having a claim in tort, contract, or otherwise against the corporation, irrespective of whether the parties have notice of the claim. Neither the resolution nor any instrument by which a pledge is created need be recorded.
(e)
Any resolution under which notes of the corporation are authorized to be issued (and any trust indenture established thereby) may contain provisions for vesting in a trustee or trustees such properties, rights, powers, and duties in trust as the corporation may determine.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-10. - Trust funds.

§ 35-12-10. Trust funds.
All moneys received pursuant to the authority of this chapter, whether as proceeds from the sale of notes or as revenues, receipts, or income, shall be trust funds to be held and applied solely as provided in the proceedings under which the notes are authorized. Any officer with whom, or any bank or trust company with which, these money shall be deposited as trustee thereof shall hold and apply the money for the purposes thereof, subject to the applicable provisions of this chapter, the proceedings authorizing the notes, and the trust agreement securing the notes, if any.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-11. - Exemption from taxation.

§ 35-12-11. Exemption from taxation.
The corporation shall not be required to pay state taxes of any kind, and the corporation, and its property and money, shall at all times be free from taxation of every kind by the state.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-12. - Notes as legal investments.

§ 35-12-12. Notes as legal investments.
The notes of the corporation are hereby made securities in which all public officers and bodies of this state and municipalities and municipal subdivisions, all companies and associations and other persons carrying on an insurance business, all banks, bankers, trust companies, savings banks, and savings associations, including savings and loan associations, building and loan associations, investment companies, and other persons carrying on a banking business, all administrators, guardians, executors, trustees, and other fiduciaries, and all other persons whatsoever who are authorized to invest in bonds or other obligations of the state may properly and legally invest funds, including capital, in their control or belonging to them.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-13. - Agreement of the state.

§ 35-12-13. Agreement of the state.
The state does hereby pledge to and agree with the holders of any notes issued under this chapter, that the state will not limit or alter the rights vested in the corporation to fulfill the terms of any agreements made with the holders until these notes, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of holders, are fully met and discharged. The corporation is authorized to include this pledge and agreement of the state in any agreement with the holders of notes.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-14. - Credit of the state.

§ 35-12-14. Credit of the state.
Obligations issued under the provisions of this chapter shall not constitute a debt, liability, or obligation of the state or of any political subdivision thereof other than the corporation, or a pledge of the faith and credit of the state or any political subdivision other than the corporation, but shall be payable solely from the revenues or assets of the corporation. Each obligation issued under this chapter shall contain on the face thereof a statement to the effect that the corporation shall not be obligated to pay the obligation or interest thereon except from revenues or assets pledged therefor, and that neither the faith and credit nor the taxing power of the state or any political subdivision thereof other than the corporation is pledged to the payment of the principal of or the interest on the obligation.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-15. - Sale of accounts.

§ 35-12-15. Sale of accounts.
Notwithstanding the provisions of any other statute to the contrary, the president of the university is authorized and empowered to sell accounts to the corporation for such consideration and upon such terms and conditions as the president shall approve.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-16. - Annual report and audit.

§ 35-12-16. Annual report and audit.
The corporation shall submit to the board of governors for higher education, within four (4) months after the close of its fiscal year, a report of its activities for the preceding fiscal year. The report shall set forth a complete operating and financial statement covering the corporation’s operations during the preceding fiscal year. The corporation shall cause an independent audit of its books and accounts to be made at least once each fiscal year.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-17. - Chapter controlling over inconsistent provisions.

§ 35-12-17. Chapter controlling over inconsistent provisions.
Insofar as the provisions of this chapter are inconsistent with the provisions of any other law or ordinance, general, special or local, the provisions of this chapter shall be controlling.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-18. - Construction with other statutes.

§ 35-12-18. Construction with other statutes.
Nothing in this chapter shall restrict or limit the powers of the corporation arising under any laws of this state. This chapter shall be construed to provide a complete additional and alternative method for doing the things authorized by this chapter and shall be regarded as supplemental and in addition to the powers conferred by other laws. The issuance of all notes and other obligations of the corporation under the provisions of this chapter need not comply with the requirements of any other statute applicable to the issuance of obligations. No proceedings or notice of approval shall be required for the issuance of any notes and other obligations or any instruments of security therefor except as provided in this chapter.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-19. - Liberal construction.

§ 35-12-19. Liberal construction.
This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed so as to effectuate its purposes.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-12 - University of Rhode Island Research Corporation › Section 35-12-20. - Severability.

§ 35-12-20. Severability.
If any clause, sentence, paragraph, section, or part of this chapter shall be adjudged by any court of competent jurisdiction to be invalid, that judgment shall not affect, impair, or invalidate the remainder of this chapter, but shall be confined in its operation to the clause, sentence, paragraph, section, or part directly involved in the controversy in which that judgment shall have been rendered.
History of Section.
P.L. 1982, ch. 324, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-13 - Registered Public Obligations › Section 35-13-3. - Purpose.

§ 35-13-3. Purpose.
(a)
The code provides that interest with respect to certain obligations may not be exempt from federal income taxation unless they are in registered form. It is therefore a matter of state concern that public entities be authorized to provide for the issuance of obligations in registered form. It is a purpose of this chapter to empower all public entities to establish and maintain a system pursuant to which obligations may be issued in registered form within the meaning of the applicable provisions of the code.
(b)
Obligations have traditionally been issued in bearer rather than in registered form, and a change from bearer to registered form may affect the relationships, rights, and duties of issuers of and the persons that deal with obligations, and by this effect, the costs. These effects will impact the various issuers and varieties of obligations differently depending on their legal and financial characteristics, their markets, and their adaptability to recent and prospective technological and organizational developments. It is therefore a matter of state concern that public entities be provided flexibility in the development of systems of registration and control over system incidents, so as to accommodate these differing impacts. It is a purpose of this chapter to empower the establishment and maintenance, and amendment from time to time, of differing systems of registration of obligations, including system incidents, so as to accommodate the differing impacts upon issuers and varieties of obligations. It is further a purpose of this chapter to authorize systems that will facilitate the prompt and accurate transfer of registered public obligations and the developing of practices with regard to the registration and transfer of registered public obligations.
History of Section.
P.L. 1983, ch. 267, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-13 - Registered Public Obligations › Section 35-13-5. - Execution of certificated registered public obligation.

§ 35-13-5. Execution of certificated registered public obligation.
(a)
A certificated registered public obligation shall be executed by the issuer, by the manual or facsimile signature or signatures of authorized officers. Any signature of an authorized officer may be attested by the manual or facsimile signature of another authorized officer.
(b)
In addition to the signatures referred to in subsection (a), any certificated registered public obligation or any writing relating to an uncertificated registered public obligation may include a certificate or certificates signed by the manual or facsimile signature of an authenticating agent, registrar, transfer agent, or the like.
(c)
At least one signature of an authorized officer or other person required or permitted to be placed on a certificated registered public obligation shall be a manual signature.
History of Section.
P.L. 1983, ch. 267, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-13 - Registered Public Obligations › Section 35-13-6. - Signatures.

§ 35-13-6. Signatures.
(a)
Any certificated registered public obligation signed by the authorized officers at the time of the signing thereof shall remain valid and binding, notwithstanding that before the issuance thereof any or all of the officers shall have ceased to fill their respective offices.
(b)
Any authorized officer empowered to sign any certificated registered public obligation may adopt as and for the signature of the officer the signature of a predecessor in office in the event that the predecessor’s signature appears on the certificated registered public obligation. An authorized officer incurs no liability by the adopting of a predecessor’s signature that would not be incurred by the authorized officer if the signature were that of the authorized officer.
History of Section.
P.L. 1983, ch. 267, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-13 - Registered Public Obligations › Section 35-13-7. - Seal.

§ 35-13-7. Seal.
When a seal is required or permitted in the execution of any certificated registered public obligation, an authorized officer may cause the seal to be printed, engraved, stamped, or otherwise placed in facsimile on the obligation. The facsimile seal has the same legal effect as the impression of the seal.
History of Section.
P.L. 1983, ch. 267, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-13 - Registered Public Obligations › Section 35-13-8. - Agents — Depositories.

§ 35-13-8. Agents — Depositories.
(a)
An issuer may appoint for such term as may be agreed, including for so long as a registered public obligation may be outstanding, corporate or other authenticating agents, transfer agents, registrars, or paying or other agents and specify the terms of their appointment, including their rights, compensation and duties, limits upon their liabilities, and provision for their payment of liquidated damages in the event of breach of certain of the duties imposed, which liquidated damages may be made payable to the issuer, the owner, or a financial intermediary. None of these agents need have an office or do business within this state.
(b)
An issuer may agree with custodian banks and financial intermediaries, and nominees of any of them, in connection with the establishment and maintenance by others of a central depository system for the transfer or pledge of registered public obligations. The custodian banks and financial intermediaries, and nominees, may, if qualified and acting as fiduciaries, also serve as authenticating agents, transfer agents, registrars, or paying or other agents of the issuer with respect to the same issue of registered public obligations.
(c)
Nothing shall preclude the issuer from itself performing, either alone or jointly with other issuers, any transfer, registration, authentication, payment, or other function described in this section.
History of Section.
P.L. 1983, ch. 267, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-13 - Registered Public Obligations › Section 35-13-9. - Costs — Collection.

§ 35-13-9. Costs — Collection.
(a)
An issuer, prior to or at original issuance of registered public obligations, may provide as a part of a system of registration that the transferor or transferee of the registered public obligations pay all or a designated part of the costs of the system as a condition precedent to transfer, that costs be paid out of proceeds of the registered public obligations, or that both methods be used. The portion of the costs of the system not provided to be paid for by the transferor or transferee or out of proceeds shall be the liability of the issuer.
(b)
The issuer may as a part of a system of registration provide for reimbursement or for satisfaction of its liability by payment by others. The issuer may enter into agreements with others respecting reimbursement or payment, may establish fees and charges pursuant to these agreements or otherwise, and may provide that the amount or estimated amount of the fees and charges shall be reimbursed or paid from the same sources and by means of the same collection and enforcement procedures and with the same priority and effect as with respect to the obligations.
History of Section.
P.L. 1983, ch. 267, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-13 - Registered Public Obligations › Section 35-13-10. - Security for deposits.

§ 35-13-10. Security for deposits.
Obligations issued by public entities under the laws of one or more states, territories, possessions, or the District of Columbia, which are in registered form, whether or not represented by an instrument, and which, except for their form, satisfy the requirements with regard to security for deposits of moneys of public agencies prescribed pursuant to any law of this state, shall be deemed to satisfy all the requirements even though they are in registered form if a security interest in the obligations is perfected on behalf of the public agencies whose moneys are so deposited.
History of Section.
P.L. 1983, ch. 267, § 1.