(a)  Any certificated registered public obligation signed by the authorized officers at the time of the signing thereof shall remain valid and binding, notwithstanding that before the issuance thereof any or all of the officers shall have ceased to fill their respective offices.

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Terms Used In Rhode Island General Laws 35-13-6

  • Authorized officer: means any individual required or permitted, alone or with others, by any provision of law, or by the issuing public entity, to execute on behalf of the public entity a certificated registered public obligation or a writing relating to an uncertificated registered public obligation. See Rhode Island General Laws 35-13-2
  • Certificated registered public obligation: means a registered public obligation which is represented by an instrument. See Rhode Island General Laws 35-13-2
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Obligation: means an agreement of a public entity to pay principal and any interest thereon, whether in the form of a contract to repay borrowed money, a lease, an installment purchase agreement, or otherwise, and includes a share, participation, or other interest in that agreement. See Rhode Island General Laws 35-13-2

(b)  Any authorized officer empowered to sign any certificated registered public obligation may adopt as and for the signature of the officer the signature of a predecessor in office in the event that the predecessor’s signature appears on the certificated registered public obligation. An authorized officer incurs no liability by the adopting of a predecessor’s signature that would not be incurred by the authorized officer if the signature were that of the authorized officer.

History of Section.
P.L. 1983, ch. 267, § 1.