Terms Used In Rhode Island General Laws > Chapter 42-155 - Quasi-Public Corporations Accountability and Transparency Act

• 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.
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Oversight: Committee review of the activities of a Federal agency or program.
• person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
• quasi-public corporation: means any body corporate and politic created, or to be created, pursuant to the general laws, including, but not limited to, the following:

  (1)  Capital center commission;

  (2)  Rhode Island convention center authority;

  (3)  Rhode Island industrial facilities corporation;

  (4)  Rhode Island industrial-recreational building authority;

  (5)  Rhode Island small business loan fund corporation;

  (6)  Quonset development corporation;

  (7)  Rhode Island airport corporation;

  (8)  I-195 redevelopment district commission;

  (9)  Rhode Island health and educational building corporation;

  (10)  Rhode Island housing and mortgage finance corporation;

  (11)  Rhode Island student loan authority;

  (12)  Narragansett bay commission;

  (13)  Rhode Island infrastructure bank;

  (14)  Rhode Island water resources board;

  (15)  Rhode Island resource recovery corporation;

  (16)  Rhode Island public rail corporation;

  (17)  Rhode Island public transit authority;

  (18)  Rhode Island turnpike and bridge authority;

  (19)  Rhode Island tobacco settlement financing corporation; and

  (20)  Any subsidiary of the Rhode Island commerce corporation. See Rhode Island General Laws 42-155-3

• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Statute: A law passed by a legislature.
• town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9