Rhode Island General Laws 40.1-24.6-4. Obligations of participating entities
Operators of developmental disability agencies intending to participate in the corporation shall enter into a contractual agreement with the corporation that shall, among other provisions, describe and define each member’s obligations relative to funding, length of commitment, liabilities, and participation in the program. Such an agreement shall also define and delineate the terms upon which an operator may disaffiliate from the corporation and agreement. The agreements shall also include provisions that require members to be jointly and severally liable for losses of the self-insurance fund and shall include the mechanism for distributing such losses. The state of Rhode Island shall be immune from liability for losses of the self-insurance fund.
History of Section.
P.L. 2017, ch. 405, § 1; P.L. 2017, ch. 421, § 1.
Terms Used In Rhode Island General Laws 40.1-24.6-4
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.