(a)  There is created a seven (7) member performance review committee. The members shall be: (1) the governor or his or her designee; (2) the speaker of the house of representatives or his or her designee; (3) the president of the senate or his or her designee; (4) a minority party member of the general assembly to be designated by the minority leader of the house of representatives and the minority leader of the senate acting jointly; (5) one member selected by the board of directors of the Rhode Island Society of Certified Public Accountants; (6) one member selected by the board of directors of the Rhode Island Association of Realtors, Inc.; and (7) one member who shall be a depositor selected by the joint committee on small business.

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Terms Used In Rhode Island General Laws 42-116-33

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Board: means the board of directors of the corporation. See Rhode Island General Laws 42-116-3
  • 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.
  • Corporation: means the Rhode Island depositors economic protection corporation. See Rhode Island General Laws 42-116-3
  • Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Minority leader: See Floor Leaders

(b)  The committee shall meet and issue its biannual reports by February 15th and August 15th of each year. The document shall contain the following:

(1)  Information regarding the disposition of the assets and liabilities of the corporation;

(2)  Information regarding the interest and income, if any, earned by the corporation and the administrative expenses of the corporation;

(3)  Information, which updates projections as regards cash inflow and outflow;

(4)  Information as to the general fiscal condition of the state and how that condition relates to the activities and operation of the corporation;

(5)  Information as to the principal amount of outstanding bonded indebtedness;

(6)  A review, which considers subdivisions (1) — (5), of the schedule of payments and a recommendation as to the acceleration or modification of the schedule;

(7)  A recommendation, if any, as to necessary and appropriate legislation; and

(8)  A brief summary of the document shall be published in a newspaper of general circulation within the state on two (2) successive days.

History of Section.
P.L. 1991, ch. 3, § 4; P.L. 1993, ch. 251, § 1; P.L. 1994, ch. 6, § 1; P.L. 2001, ch. 180, § 130; P.L. 2006, ch. 216, § 53.