Rhode Island General Laws 35-12-13. Agreement of the state
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The state does hereby pledge to and agree with the holders of any notes issued under this chapter, that the state will not limit or alter the rights vested in the corporation to fulfill the terms of any agreements made with the holders until these notes, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of holders, are fully met and discharged. The corporation is authorized to include this pledge and agreement of the state in any agreement with the holders of notes.
History of Section.
P.L. 1982, ch. 324, § 1.
Terms Used In Rhode Island General Laws 35-12-13
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means the governmental agency and public instrumentality authorized, created, and established pursuant to § 35-12-4. See Rhode Island General Laws 35-12-3
- Notes: means the notes, securities, or other obligations or evidences of indebtedness issued by the corporation pursuant to this chapter, all of which shall be issued under the name of or known as obligations of the "university of Rhode Island research corporation". See Rhode Island General Laws 35-12-3
- State: means the state of Rhode Island. See Rhode Island General Laws 35-12-3