Rhode Island General Laws 42-64-26. Authorization to accept appropriated moneys
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The Rhode Island commerce corporation is authorized to accept any moneys as may be 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. 1974, ch. 100, § 14; P.L. 2013, ch. 243, § 3; P.L. 2013, ch. 490, § 3.
Terms Used In Rhode Island General Laws 42-64-26
- 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