Rhode Island General Laws > Chapter 37-12.1 – Substitution of Security for Retained Earnings of Architects and Engineers


§ 37-12.1-1	Definitions
§ 37-12.1-2	Substitution of security for retained earnings by designers
§ 37-12.1-3	Deduction from retained earnings
§ 37-12.1-4	Endorsement on securities
§ 37-12.1-5	Applicability

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Contract: A legal written agreement that becomes binding when signed.
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.
person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
Public works contract: means a contract to perform design or planning services by a designer with the state, any agency, or governmental subdivisions thereof. See Rhode Island General Laws 37-12.1-1
Retained earnings: means any money or earned estimates withheld from a designer pursuant to the terms of a public works contract. See Rhode Island General Laws 37-12.1-1
United States: include the several states and the territories of the United States. See Rhode Island General Laws 43-3-8