§ 45-54-19 - Capital reserves. - Rhode-island Statutes

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Statutes > Rhode-island > Title-45 > Chapter-45-54 > 45-54-19

SECTION 45-54-19

§ 45-54-19 Capital reserves. – To assure the continued operation and solvency of the corporation for thecarrying out of its corporate purposes, the corporation may create andestablish one or more special funds ( referred to as "capital reserve funds" inthis chapter), and may pay into each capital reserve fund:

(1) Any monies appropriated and made available by the statefor the purpose of the fund;

(2) Proceeds from the sale of notes or bonds to the extentprovided in the resolution or resolutions of the corporation authorizing theirissuance; and

(3) Any other moneys that may be made available to thecorporation, for the purpose of the fund, from any other source.

State Codes and Statutes

Statutes > Rhode-island > Title-45 > Chapter-45-54 > 45-54-19

SECTION 45-54-19

§ 45-54-19 Capital reserves. – To assure the continued operation and solvency of the corporation for thecarrying out of its corporate purposes, the corporation may create andestablish one or more special funds ( referred to as "capital reserve funds" inthis chapter), and may pay into each capital reserve fund:

(1) Any monies appropriated and made available by the statefor the purpose of the fund;

(2) Proceeds from the sale of notes or bonds to the extentprovided in the resolution or resolutions of the corporation authorizing theirissuance; and

(3) Any other moneys that may be made available to thecorporation, for the purpose of the fund, from any other source.

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State Codes and Statutes

Statutes > Rhode-island > Title-45 > Chapter-45-54 > 45-54-19

SECTION 45-54-19

§ 45-54-19 Capital reserves. – To assure the continued operation and solvency of the corporation for thecarrying out of its corporate purposes, the corporation may create andestablish one or more special funds ( referred to as "capital reserve funds" inthis chapter), and may pay into each capital reserve fund:

(1) Any monies appropriated and made available by the statefor the purpose of the fund;

(2) Proceeds from the sale of notes or bonds to the extentprovided in the resolution or resolutions of the corporation authorizing theirissuance; and

(3) Any other moneys that may be made available to thecorporation, for the purpose of the fund, from any other source.