2023 Rhode Island General Laws
Title 35 - Public Finance
Chapter 35-12 - University of Rhode Island Research Corporation
Section 35-12-6. - Additional powers.
§ 35-12-6. Additional powers.
In addition to the powers enumerated in § 35-12-5, the corporation shall have power to:
(1) Purchase accounts from the university for such consideration and upon such terms and conditions as the corporation shall determine;
(2) Pledge purchased accounts as security for any borrowings undertaken by the corporation or sell the accounts for such consideration and on such terms and conditions as the corporation shall determine;
(3) Borrow money and issue notes and provide for the rights of the holders thereof, and secure the notes by assignment, pledge, or granting of a security interest in accounts, including, without limitation, all or a part of its interest in accounts for the purpose of providing funds to effectuate its purposes under this chapter; and
(4) Create and establish such other fund or funds as may be necessary or desirable for its corporate purposes.
History of Section.
P.L. 1982, ch. 324, § 1.
