§ 42-99-12 - Pledge of the state. - Rhode-island Statutes

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Statutes > Rhode-island > Title-42 > Chapter-42-99 > 42-99-12

SECTION 42-99-12

§ 42-99-12 Pledge of the state. – The state does pledge to and agree with the holders of any notes or bondsissued by the corporation under this chapter that the state will not limit oralter the rights vested in the corporation to fulfill the terms of anyagreements made with the holders thereof or in any way impair the rights andremedies of the holders until the notes and bonds, together with the interestthereon, with interest on any unpaid installments of interest, and all costsand expenses in connection with any action or proceeding by or on behalf of theholders, are fully met and discharged. The corporation is authorized to includethis pledge and agreement with the holders of the notes or bonds.

State Codes and Statutes

Statutes > Rhode-island > Title-42 > Chapter-42-99 > 42-99-12

SECTION 42-99-12

§ 42-99-12 Pledge of the state. – The state does pledge to and agree with the holders of any notes or bondsissued by the corporation under this chapter that the state will not limit oralter the rights vested in the corporation to fulfill the terms of anyagreements made with the holders thereof or in any way impair the rights andremedies of the holders until the notes and bonds, together with the interestthereon, with interest on any unpaid installments of interest, and all costsand expenses in connection with any action or proceeding by or on behalf of theholders, are fully met and discharged. The corporation is authorized to includethis pledge and agreement with the holders of the notes or bonds.

State Codes and Statutes

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State Codes and Statutes

Statutes > Rhode-island > Title-42 > Chapter-42-99 > 42-99-12

SECTION 42-99-12

§ 42-99-12 Pledge of the state. – The state does pledge to and agree with the holders of any notes or bondsissued by the corporation under this chapter that the state will not limit oralter the rights vested in the corporation to fulfill the terms of anyagreements made with the holders thereof or in any way impair the rights andremedies of the holders until the notes and bonds, together with the interestthereon, with interest on any unpaid installments of interest, and all costsand expenses in connection with any action or proceeding by or on behalf of theholders, are fully met and discharged. The corporation is authorized to includethis pledge and agreement with the holders of the notes or bonds.