(a)  The corporation may adopt rules, regulations, standards, policies, procedures, guidelines, and statements necessary or incidental to the powers and purposes of the corporation. The corporation may issue any rules, regulations, standards, policies, procedures, guidelines, and statements that the corporation considers necessary or appropriate to carry out this chapter.

Terms Used In Rhode Island General Laws 42-116-10

  • Commission: means the select commission to investigate the failure of RISDIC insured financial institutions established pursuant to P. See Rhode Island General Laws 42-116-3
  • Corporation: means the Rhode Island depositors economic protection corporation. See Rhode Island General Laws 42-116-3
  • 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.
  • Person: means any natural or corporate person, including bodies politic and corporate, public departments, offices, agencies, authorities and political subdivisions of the state, corporations, societies, associations and partnerships, and subordinate instrumentalities of any one or more political subdivisions of the state. See Rhode Island General Laws 42-116-3

(b)  The corporation is subject to § 42-35-2 and § 42-35-4(a), and shall by its rules provide for reasonable prior notice and comment by the public, in accordance with § 42-35-3(a)(1), except that the corporation is not required to effect the mailing of individual notice to interested persons. The foregoing notwithstanding, the corporation may adopt rules in accordance with the procedures set forth in § 42-35-3(b).

(c)  Contested matters shall be resolved by the corporation in accordance with § 42-35-9, and any person aggrieved by a final order of the commission is entitled to judicial review of that order in accordance with § 42-35-10 — § 42-35-16.

History of Section.
P.L. 1991, ch. 3, § 4.