2016 Rhode Island General Laws
Title 46 - Waters and Navigation
Chapter 46-12.2 - Rhode Island Infrastructure Bank
Section 46-12.2-23 - Duration of agency Termination.
§ 46-12.2-23 Duration of agency Termination.
The agency and its corporate existence shall continue until terminated by law; provided, however, that no such law shall take effect so long as the agency shall have bonds outstanding, unless adequate provision has been made for the payment or satisfaction thereof. Upon termination of the agency, the title to all funds and other properties owned by it, which remain after provision for the payment or satisfaction of all bonds of the agency, shall vest in the state. The obligations, debts, and liabilities of the agency shall be assumed by and imposed upon the state, and shall be transferred to the state general treasurer or to such other successor as the general assembly may designate.
History of Section.
(P.L. 1989, ch. 303, § 2.)
Disclaimer: These codes may not be the most recent version. Rhode Island may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.