State Codes and Statutes

Statutes > Rhode-island > Title-16 > Chapter-16-61 > 16-61-10

SECTION 16-61-10

§ 16-61-10 Encumbering of assets. –The authority shall have no power to issue bonds, notes, or other obligations,or to mortgage, pledge, or encumber the assets of the authority or any of itsincome; and no part of the income or the assets of the authority shall inure tothe benefit of any director, officer, employee, or any other individual, exceptas may be provided as salary or reasonable compensation for services.

State Codes and Statutes

Statutes > Rhode-island > Title-16 > Chapter-16-61 > 16-61-10

SECTION 16-61-10

§ 16-61-10 Encumbering of assets. –The authority shall have no power to issue bonds, notes, or other obligations,or to mortgage, pledge, or encumber the assets of the authority or any of itsincome; and no part of the income or the assets of the authority shall inure tothe benefit of any director, officer, employee, or any other individual, exceptas may be provided as salary or reasonable compensation for services.