State Codes and Statutes
Statutes > Rhode-island > Title-45 > Chapter-45-58 > 45-58-9SECTION 45-58-9
§ 45-58-9 Separation of utility assets andfire protection assets. – Upon April 4, 2001, ownership of the utility assets previously titled to, orotherwise owned or controlled by, the Pascoag fire district shall betransferred to the utility district, subject to any security interest of recordrelating to such utility assets, which security interests, if any, shall remainin full force and effect and be unimpaired by the transfer of ownership of theutility assets. All fire protection assets that are the property of Pascoagfire district on April 4, 2001 shall remain the property of the fire district.To the extent that individual assets presently titled to the Pascoag firedistrict cannot be classified as either utility assets or fire protectionassets, the utility district and the fire district shall negotiate in goodfaith to transfer title to such assets to one entity or the other, with orwithout cost but in all cases preserving any applicable contract rights ofthird parties. The utility district and the fire district may agree to jointownership or control of assets that cannot reasonably be classified as eitherutility assets or fire protection assets.
