Notwithstanding any other provision of law to the contrary, those persons designated to administer the deferred compensation program are hereby authorized to make payments for the purchase of government securities, mutual funds, fixed or variable life insurance, or annuity contracts under the deferred compensation program. The payments shall not be construed to be a prohibited use of the general assets of the state, county, city, or other political subdivision.
R.I. Gen. Laws § 36-13-5
Annuity and insurance contracts
P.L. 1975, ch. 34, § 1; P.L. 1982, ch. 447, § 1; P.L. 1995, ch. 182, § 1; P.L. 1995, ch. 225, § 1.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.