§ 19-5-22. Tax on deposits.
The capital stock, corporate franchises, and personal property, but not the real estate, of credit unions shall be exempt from taxation; provided, however, that every credit union shall annually pay to the general treasurer forty cents (40¢) on each one hundred dollars ($100) deposited with the credit union in the same manner as in financial institutions, the sums to be ascertained from a report to be made by the credit union to the director, or the director’s designee, on or before the fifteenth day in July of each year, of the total amount of the deposits in the credit union on the last business day in June in that year, and to be paid on or before the first Monday in August.
History of Section.P.L. 1995, ch. 82, § 43.
Structure Rhode Island General Laws
Title 19 - Financial Institutions
Section 19-5-1. - “Credit union” defined.
Section 19-5-2. - Incorporation.
Section 19-5-3. - Membership of credit unions.
Section 19-5-4. - Contents of bylaws.
Section 19-5-5. - Shares or deposits held jointly.
Section 19-5-6. - Demand deposits.
Section 19-5-7. - Voting rights.
Section 19-5-8. - Election and terms of directors.
Section 19-5-9. - Appointments and terms of supervisory committee members.
Section 19-5-10. - Credit committee.
Section 19-5-11. - Duplication of office prohibited — Oaths of office — Record of qualification.
Section 19-5-12. - Powers and duties of directors.
Section 19-5-13. - Loan applications.
Section 19-5-14. - Powers and duties of supervisory committee.
Section 19-5-15. - Investment of funds — Powers.
Section 19-5-15.1. - Purchase, sale and pledge of eligible obligations and assets.
Section 19-5-16. - Maximum aggregate liability of one person or company.
Section 19-5-17. - Compensation or loans to officers.
Section 19-5-18. - Expulsion of members.
Section 19-5-20. - Regular reserve.
Section 19-5-21. - Destruction of records.
Section 19-5-22. - Tax on deposits.
Section 19-5-23. - Conversion.
Section 19-5-25. - Exercise of same powers as federal credit unions.
Section 19-5-26. - Liquidity reserves.
Section 19-5-27. - Interstate credit unions.