Rhode Island General Laws 42-64-21. Notes and bonds as legal investments
The notes and bonds of the Rhode Island commerce corporation are made securities in which all public officers and bodies of this state and all municipalities and municipal subdivisions, all insurance companies and associations, and other persons carrying on an insurance business, all banks, bankers, trust companies, saving banks and saving 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 now or may hereafter be 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. 1974, ch. 100, § 14; P.L. 2013, ch. 243, § 3; P.L. 2013, ch. 490, § 3.
Terms Used In Rhode Island General Laws 42-64-21
- 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.
- notes: means the bonds, 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 and known as obligations of the "Rhode Island commerce corporation. See Rhode Island General Laws 42-64-3
- State: means the state of Rhode Island. See Rhode Island General Laws 42-64-3