Rhode Island General Laws 42-81-3. Definitions
For the purpose of this chapter:
(1) “Liquid fossil fuel” means heating oils, light and heavy diesel oil, motor gasoline, propane, butane, residual fuel oils, kerosene and aviation fuels.
(2) “Prime supplier” means any individual, trustee, agency, partnership, association, corporation, company, municipality, political subdivision, or other legal entity, which makes the first sale of any liquid fossil fuel into the state distribution system for consumption within the state.
(3) “Set-aside” means that amount of liquid fossil fuel not exceeding five percent (5%) of the prime supplier’s monthly volume that shall be held for use by the state under the provisions of this chapter.
History of Section.
P.L. 1981, ch. 158, § 1.
Terms Used In Rhode Island General Laws 42-81-3
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Trustee: A person or institution holding and administering property in trust.