Rhode Island General Laws 16-57-12. Credit of state
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Guaranties made under the provisions of this chapter shall not constitute debts, liabilities, or obligations of the state or of any political subdivision of the state other than the division of higher education assistance or a pledge of the faith and credit of the state or any political subdivision other than the division of higher education assistance, but shall be payable solely from the revenues or assets of reserve funds set forth in § 16-57-10.
History of Section.
P.L. 1977, ch. 238, § 1; P.L. 2015, ch. 141, art. 7, § 6.
Terms Used In Rhode Island General Laws 16-57-12
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Division: means the Rhode Island division of higher education assistance, the division authorized, created, and established pursuant to § 16-57-4. See Rhode Island General Laws 16-57-3
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- State: means the state of Rhode Island. See Rhode Island General Laws 16-57-3