Title 42, Title 42 Affairs and Government

Mortgages insured by the authority under this chapter and participations therein are hereby made legal investments for all public officers and bodies of this state and all municipalities and municipal subdivisions, all insurance companies and associations, and other persons carry…

The authority shall keep proper records of accounts and shall make an annual report of its condition to the state banking commissioner.

(a) If from time to time in the opinion of the authority the addition of moneys to the mortgage insurance fund is required to meet obligations, the authority shall in writing request the governor to provide sufficient moneys by a day specified for that purpose. The governor shall…

The state of Rhode Island does hereby pledge to and agree with the mortgagees holding mortgage insurance issued by the authority under this chapter that the state of Rhode Island will not limit or alter the rights hereby vested in the authority to fulfill the terms of any agreeme…

No member of the authority shall participate in any decision on any contract of insurance in which the member has any interests, direct or indirect, in any firm, partnership, corporation, or association that would be the mortgagee, whose loan to a local development corporation is…

The provisions of this chapter are severable, and if any of its provisions shall be held unconstitutional by any court of competent jurisdiction, the decision of that court shall not affect or impair any of the remaining provisions.

For the purpose of establishing the mortgage insurance fund and carrying out the intent of this chapter and the provisions thereof, the general assembly annually shall appropriate out of any money in the treasury not otherwise appropriated, such sums as it may deem necessary not …

(a) It is declared that a statewide need exists for industrial buildings and the expansion, rehabilitation, renovation, and reconstruction of existing industrial buildings and additional machinery and equipment to provide enlarged opportunities for gainful employment by the peopl…

The Rhode Island industrial-recreational building authority is authorized to insure the payment of mortgage loans secured by industrial-recreational projects, and to this end the faith and credit of the state is hereby pledged, consistent with the terms and limitations of the ter…

(a) The Rhode Island industrial-recreational building authority, hereinafter in this chapter called the “authority,” hereby created and established a body corporate and politic, is constituted a public instrumentality of the state, and the exercise by the authority of the powers …

(a) The manager shall be appointed by the authority and the manger's tenure of office shall be at the pleasure of the authority. The manager shall be in the unclassified service. (b) The manager shall be the chief administrative officer for the authority and as such shall direct …

As used in this chapter, the following words and terms have the following meanings unless the context shall indicate another or different meaning or intent: (1)(i) “Cost of project” means in the case of an industrial project described in subsection (4)(i), the cost or fair market…

The authority is authorized and empowered: (1) To adopt bylaws for the regulation of its affairs and the conduct of its business; (2) To adopt an official seal and alter it at pleasure; (3) To maintain an office at such place or places within the state as it may designate; (4) To…

When a local development corporation or project owner does not meet mortgage payments insured by the authority by reason of vacancy of its industrial and/or recreational project, the authority, for the purpose of maintaining income from industrial and/or recreational projects on …

(a) There is hereby created an industrial building mortgage insurance fund, hereinafter in this chapter referred to as the “fund” which shall be used by the authority as a nonlapsing, revolving fund for carrying out the provisions of this chapter. To this fund shall be charged an…