§ 45-37.1-4 Rhode Island industrialfacilities corporation constituted public body corporate and agency of thestate. – (a) The Rhode Island industrial facilities corporation, previously created as anonbusiness corporation, under and pursuant to chapter 6 of title 7, as amendedby chapter 121 of the Public Laws of 1966, is constituted and established as apublic body corporate and agency of the state for the purposes of acquiring,constructing, financing, and leasing projects, as defined in this chapter,within the state. The exercise by the corporation of the powers conferred bythis chapter are deemed and held to be the performance of an essentialgovernmental function.
(b) All of the powers of the corporation are vested in theboard of directors of the corporation previously elected at the first meetingof the incorporators of the Rhode Island industrial facilities corporation, andthe members of the board shall continue to serve for the duration of the termsfor which they were originally elected. Successors to the members of the boardof directors shall be appointed by the governor, as follows: prior to the monthof June in each year, commencing in the year 1967, the governor shall appoint amember to serve on the board of directors for a term of five (5) years tosucceed the member whose term will expire in June of that year. In the event ofa vacancy occurring in the membership of the board of directors, the governorshall appoint a new member of the board of directors for the unexpired term.Any member of the board of directors shall be eligible for reappointment.
(c) Each member of the board of directors, before enteringupon his or her duties, shall take an oath to administer the duties of his orher office faithfully and impartially, and the oath shall be filed in theoffice of the secretary of state.
(d) The board of directors may elect officers, who need notbe members of the board, as may be required to conduct the authority'sbusiness. The director of the department of economic development shall serve asexecutive director and chief executive officer, ex officio, of the corporation.Three (3) members of the board of directors of the corporation constitutes aquorum, and the vote of three (3) members of the board of directors isnecessary for any action taken by the corporation. No vacancy in the membershipof the board of directors of the corporation shall impair the right of a quorumto exercise all the powers and perform the duties of the corporation.
(e) Any action taken by the corporation under the provisionsof this chapter may be authorized by resolution at any regular or specialmeeting, and each resolution takes effect immediately and need not be publishedor posted.
(f) The members of the board of directors and the officers ofthe corporation shall receive no compensation for the performance of theirduties under this chapter, but each member or officer shall be paid his or hernecessary expenses incurred while in the performance of those duties.
§ 45-37.1-4 Rhode Island industrialfacilities corporation constituted public body corporate and agency of thestate. – (a) The Rhode Island industrial facilities corporation, previously created as anonbusiness corporation, under and pursuant to chapter 6 of title 7, as amendedby chapter 121 of the Public Laws of 1966, is constituted and established as apublic body corporate and agency of the state for the purposes of acquiring,constructing, financing, and leasing projects, as defined in this chapter,within the state. The exercise by the corporation of the powers conferred bythis chapter are deemed and held to be the performance of an essentialgovernmental function.
(b) All of the powers of the corporation are vested in theboard of directors of the corporation previously elected at the first meetingof the incorporators of the Rhode Island industrial facilities corporation, andthe members of the board shall continue to serve for the duration of the termsfor which they were originally elected. Successors to the members of the boardof directors shall be appointed by the governor, as follows: prior to the monthof June in each year, commencing in the year 1967, the governor shall appoint amember to serve on the board of directors for a term of five (5) years tosucceed the member whose term will expire in June of that year. In the event ofa vacancy occurring in the membership of the board of directors, the governorshall appoint a new member of the board of directors for the unexpired term.Any member of the board of directors shall be eligible for reappointment.
(c) Each member of the board of directors, before enteringupon his or her duties, shall take an oath to administer the duties of his orher office faithfully and impartially, and the oath shall be filed in theoffice of the secretary of state.
(d) The board of directors may elect officers, who need notbe members of the board, as may be required to conduct the authority'sbusiness. The director of the department of economic development shall serve asexecutive director and chief executive officer, ex officio, of the corporation.Three (3) members of the board of directors of the corporation constitutes aquorum, and the vote of three (3) members of the board of directors isnecessary for any action taken by the corporation. No vacancy in the membershipof the board of directors of the corporation shall impair the right of a quorumto exercise all the powers and perform the duties of the corporation.
(e) Any action taken by the corporation under the provisionsof this chapter may be authorized by resolution at any regular or specialmeeting, and each resolution takes effect immediately and need not be publishedor posted.
(f) The members of the board of directors and the officers ofthe corporation shall receive no compensation for the performance of theirduties under this chapter, but each member or officer shall be paid his or hernecessary expenses incurred while in the performance of those duties.
§ 45-37.1-4 Rhode Island industrialfacilities corporation constituted public body corporate and agency of thestate. – (a) The Rhode Island industrial facilities corporation, previously created as anonbusiness corporation, under and pursuant to chapter 6 of title 7, as amendedby chapter 121 of the Public Laws of 1966, is constituted and established as apublic body corporate and agency of the state for the purposes of acquiring,constructing, financing, and leasing projects, as defined in this chapter,within the state. The exercise by the corporation of the powers conferred bythis chapter are deemed and held to be the performance of an essentialgovernmental function.
(b) All of the powers of the corporation are vested in theboard of directors of the corporation previously elected at the first meetingof the incorporators of the Rhode Island industrial facilities corporation, andthe members of the board shall continue to serve for the duration of the termsfor which they were originally elected. Successors to the members of the boardof directors shall be appointed by the governor, as follows: prior to the monthof June in each year, commencing in the year 1967, the governor shall appoint amember to serve on the board of directors for a term of five (5) years tosucceed the member whose term will expire in June of that year. In the event ofa vacancy occurring in the membership of the board of directors, the governorshall appoint a new member of the board of directors for the unexpired term.Any member of the board of directors shall be eligible for reappointment.
(c) Each member of the board of directors, before enteringupon his or her duties, shall take an oath to administer the duties of his orher office faithfully and impartially, and the oath shall be filed in theoffice of the secretary of state.
(d) The board of directors may elect officers, who need notbe members of the board, as may be required to conduct the authority'sbusiness. The director of the department of economic development shall serve asexecutive director and chief executive officer, ex officio, of the corporation.Three (3) members of the board of directors of the corporation constitutes aquorum, and the vote of three (3) members of the board of directors isnecessary for any action taken by the corporation. No vacancy in the membershipof the board of directors of the corporation shall impair the right of a quorumto exercise all the powers and perform the duties of the corporation.
(e) Any action taken by the corporation under the provisionsof this chapter may be authorized by resolution at any regular or specialmeeting, and each resolution takes effect immediately and need not be publishedor posted.
(f) The members of the board of directors and the officers ofthe corporation shall receive no compensation for the performance of theirduties under this chapter, but each member or officer shall be paid his or hernecessary expenses incurred while in the performance of those duties.
