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Rhode Island Statutes, Title 35

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Rhode Island/Statutes

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Title 35, Title 35 Finance

30 chapters · 383 sections in this title.

All chapters in Title 35383 Ch 35-4, Chapter 35-4 State Funds45 Ch 35-6, Chapter 35-6 Accounts and Control42 Ch 35-8.1, Chapter 35-8.1 Refunding Bond Authority35 Ch 35-3, Chapter 35-3 State Budget33 Ch 35-8, Chapter 35-8 Bonded Indebtedness of …29 Ch 35-12, Chapter 35-12 University of Rhode Is…20 Ch 35-23, Chapter 35-23 Rhode Island Secure Ch…18 Ch 35-13, Chapter 35-13 Registered Public Obli…15 Ch 35-10, Chapter 35-10 State Investment Commi…14 Ch 35-1.1, Chapter 35-1.1 Office of Management …12 Ch 35-20, Chapter 35-20 Public Corporation Fin…11 Ch 35-7.1, Chapter 35-7.1 The Office of Interna…11 Ch 35-10.1, Chapter 35-10.1 Collateralization of…11 Ch 35-10.2, Chapter 35-10.2 Rhode Island Local G…11

11 sections·Filtered byTitle 35✕Ch 35-10.1✕

R.I. Gen. Laws § 35-10.1-1. Short title
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This chapter shall be known as and may be cited as the “Rhode Island Collateralization of Public Deposits Act”.
R.I. Gen. Laws § 35-10.1-10. Annual report
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An annual report shall be made sixty (60) days after the end of each calendar year by the general treasurer to the general assembly on the effectiveness of this chapter.
R.I. Gen. Laws § 35-10.1-11. Effective date
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This chapter shall take effect June 7, 1991, and shall be applicable only to those deposits made subsequent to October 1, 1991.
R.I. Gen. Laws § 35-10.1-2. Definitions
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The following definitions shall apply for the purposes of this chapter: (1) “Commission” shall mean the state investment commission established pursuant to chapter 10 of this title. (2) “Depository institution” shall mean any state chartered bank or trust company, state chartered…

R.I. Gen. Laws § 35-10.1-3. Securing of deposits

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(a) Every qualified public depository shall, at a minimum insure or pledge eligible collateral equal to one hundred percent (100%) of public deposits which are time deposits with maturities greater than sixty (60) days, and which were maintained with that depository institution a…

R.I. Gen. Laws § 35-10.1-4. Substitution of collateral

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A qualified depository institution may substitute insurance or different forms of collateral from time to time without notice to the public depositor or the commission; provided, that any substitute collateral constitutes eligible collateral; and provided, further, that no substi…

R.I. Gen. Laws § 35-10.1-5. Valuation of collateral

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The valuation of collateral shall be established initially at the time the collateral is pledged and shall be adjusted thereafter as of the last day of each month. For the purpose of this chapter, the value of collateral shall be its market value.

R.I. Gen. Laws § 35-10.1-6. Income from collateral

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The income from assets that constitute segregated collateral shall belong without restriction to the depository institution that pledged the collateral unless and until the assets are transferred to the public depositor or its designee as the result of a default or insolvency of …

R.I. Gen. Laws § 35-10.1-7. Reports

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(a) Except with respect to those public deposits which are fully insured by federal deposit insurance, each qualified depository institution holding public deposits shall file a report as required by this section within forty-five (45) days following the end of each of the instit…

R.I. Gen. Laws § 35-10.1-8. Insurance

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At its option, a depository institution may elect to purchase insurance for one hundred percent (100%) of any public deposit not covered by federal deposit insurance or secured pursuant to this chapter; provided, that this insurance is provided by an insurer rated “AAA” by standa…

R.I. Gen. Laws § 35-10.1-9. Federal deposit insurance

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Public deposits which are fully insured by federal deposit insurance, subject to deposit insurance limitations, shall not be required to be secured by eligible collateral as provided by this chapter.