§ 36-13-5. Annuity and insurance contracts.
Notwithstanding any other provision of law to the contrary, those persons designated to administer the deferred compensation program are hereby authorized to make payments for the purchase of government securities, mutual funds, fixed or variable life insurance, or annuity contracts under the deferred compensation program. The payments shall not be construed to be a prohibited use of the general assets of the state, county, city, or other political subdivision.
History of Section.P.L. 1975, ch. 34, § 1; P.L. 1982, ch. 447, § 1; P.L. 1995, ch. 182, § 1; P.L. 1995, ch. 225, § 1.
Structure Rhode Island General Laws
Title 36 - Public Officers and Employees
Chapter 36-13 - Deferred Compensation Plans
Section 36-13-1. - Deferred compensation plans authorized.
Section 36-13-1.1. - State investment commission.
Section 36-13-2. - Entering into agreements.
Section 36-13-3. - Administration of program.
Section 36-13-4. - “Employee” defined.
Section 36-13-5. - Annuity and insurance contracts.
Section 36-13-6. - Other benefits unaffected.