Rhode Island General Laws 42-55-23. Authorization to accept appropriated moneys
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The corporation is authorized to accept any moneys 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 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, or other obligations of the corporation.
History of Section.
P.L. 1973, ch. 262, § 1.
Terms Used In Rhode Island General Laws 42-55-23
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.