§ 45-54-21 - Limitation of powers. - Rhode-island Statutes

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Statutes > Rhode-island > Title-45 > Chapter-45-54 > 45-54-21

SECTION 45-54-21

§ 45-54-21 Limitation of powers. –The state pledges to and agrees with the holders of any bonds or notes issuedby the corporation, that the state will not limit or alter the rights vested inthe corporation to fulfill the terms of any agreements made with the holdersuntil those bonds or notes, together with their interest, with interest on anyunpaid installments of interest, and all costs and expenses in connection withany action or proceeding by or on behalf of the holders, are fully met anddischarged. The corporation is authorized to include this pledge and agreementof the state in any agreement with the holders of the bonds or notes.

State Codes and Statutes

Statutes > Rhode-island > Title-45 > Chapter-45-54 > 45-54-21

SECTION 45-54-21

§ 45-54-21 Limitation of powers. –The state pledges to and agrees with the holders of any bonds or notes issuedby the corporation, that the state will not limit or alter the rights vested inthe corporation to fulfill the terms of any agreements made with the holdersuntil those bonds or notes, together with their interest, with interest on anyunpaid installments of interest, and all costs and expenses in connection withany action or proceeding by or on behalf of the holders, are fully met anddischarged. The corporation is authorized to include this pledge and agreementof the state in any agreement with the holders of the bonds or notes.

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State Codes and Statutes

Statutes > Rhode-island > Title-45 > Chapter-45-54 > 45-54-21

SECTION 45-54-21

§ 45-54-21 Limitation of powers. –The state pledges to and agrees with the holders of any bonds or notes issuedby the corporation, that the state will not limit or alter the rights vested inthe corporation to fulfill the terms of any agreements made with the holdersuntil those bonds or notes, together with their interest, with interest on anyunpaid installments of interest, and all costs and expenses in connection withany action or proceeding by or on behalf of the holders, are fully met anddischarged. The corporation is authorized to include this pledge and agreementof the state in any agreement with the holders of the bonds or notes.