Rhode Island General Laws 35-4-4.1. State Linked Deposit Policy – Short title
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Sections 35-4-4.1 — 35-4-4.6 shall be known as the “State Linked Deposit Policy”, as it will link the deposit of state funds with bank performance as determined by the rating system utilized by federal regulatory authorities in compliance with the provisions of the federal Community Reinvestment Act (CRA), 12 U.S.C. § 2901 et seq., and the federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), 12 U.S.C. § 3331 et seq.
History of Section.
P.L. 1992, ch. 175, § 1.
Terms Used In Rhode Island General Laws 35-4-4.1
- Community Reinvestment Act: The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977. Source: OCC