(a)  The monies in the fund will be used as nonlapsing, revolving financial resources for carrying out the provisions of this chapter.

Terms Used In Rhode Island General Laws 40.1-24.6-6

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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.

(b)  The financial notes and obligations issued by the corporation, pursuant to the provisions of this chapter, will not be deemed to constitute a debt or liability of the state of Rhode Island, nor a political subdivision of the state, but will be payable solely from the revenues or assets of the fund.

History of Section.
P.L. 2017, ch. 405, § 1; P.L. 2017, ch. 421, § 1.