2014 Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-116 - Rhode Island Depositors Economic Protection Corporation
Section 42-116-29 - Inapplicability of certain laws.

§ 42-116-29 Inapplicability of certain laws. – (a) The corporation is authorized and empowered to acquire and to dispose of real property without the necessity of obtaining the approval of the state properties committee or otherwise complying with the provisions of chapter 6 of title 37.

(b) Nothing in this statute or in the activities of the corporation constitutes a state mandate within the meaning of § 45-13-7, et seq.

(c) Employees of the corporation are not, by reason of that employment, deemed to be employees of the state for any purpose, any other provision of the general laws to the contrary notwithstanding, including without limiting the generality of the foregoing, titles 28 and 36.

(d) Neither the corporation nor its board of directors are exempt from the provisions of chapter 2 of title 38, or chapter 46 of this title.

(e) The corporation establishes internal purchasing procedures consistent with the provisions of chapter 2 of title 37.

(f) The corporation is authorized and empowered to acquire the assets of an eligible institution, dispose of those assets, and assume liabilities of an eligible institution without the necessity of complying with the provisions of title 37.

History of Section.
(P.L. 1991, ch. 3, § 4.)