Rhode Island General Laws 36-12.1-5. Establishment of OPEB system
An OPEB System is hereby established and placed under the management of the OPEB Board for the purpose of providing and administering OPEB Benefits for Retired Employees of the State of Rhode Island and their dependants under the provisions of chapter 36-12, entitled “Insurance Benefits”, of this title, and for retired non-classified employees who are participants in the Board of Governors for Higher Education’s alternate retirement plans. The OPEB System so created shall begin operation as of July 1, 2010. It shall have the power and privileges of a corporation and shall be known as the “Rhode Island State Employees’ and Electing Teachers OPEB System” and by that name all of its business shall be transacted.
History of Section.
P.L. 2008, ch. 9, art. 4, § 3; P.L. 2009, ch. 5, art. 4, § 1.
Terms Used In Rhode Island General Laws 36-12.1-5
- 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.