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R.I. Gen. Laws § 42-116-21

Authorization to accept appropriated monies

Known as the Rhode Island Depositors Economic Protection Act

The act spans §§ 42-116-1 to 42-116-9 (45 sections).

P.L. 1991, ch. 3, § 4.

(a) The corporation is authorized to accept any monies that may be appropriated from time to time by the general assembly for effectuating its corporate purposes including, without limitation, the payment of the initial expenses of administration and operation of the corporation and the establishment of reserves or contingency funds to be available for the payment of the principal of and the interest on any bonds, notes, certificates or other obligation of the corporation.

(b) The corporation is authorized to participate in any federal plan designed to alleviate a banking crisis and to accept any federal funds made available for that purpose.

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.