§ 36-8-17. Improper interest in investments of board.
Except as herein provided, no member of the board and no employee of the board shall have any interest, direct or indirect, in the gains or profits of any investment made by the retirement board, nor as such directly or indirectly receive any pay or emolument for his or her services. No member of the board or employee of the board shall, directly or indirectly, for himself or herself or as an agent, in any manner use the gains or profits, except to make such current and necessary payments as are authorized by the retirement board; nor shall any member or employee of the board become an endorser or surety or become in any manner an obligor for money loaned or borrowed from the retirement board.
History of Section.P.L. 1936, ch. 2334, § 4; G.L. 1938, ch. 18, § 4; G.L. 1956, § 36-8-17.
Structure Rhode Island General Laws
Title 36 - Public Officers and Employees
Chapter 36-8 - Retirement System — Administration
Section 36-8-1. - Definition of terms.
Section 36-8-2. - Establishment of system.
Section 36-8-3. - Responsibility for administration — Rules and regulations.
Section 36-8-3.1. - Immunity of board members.
Section 36-8-4. - Composition of retirement board.
Section 36-8-4.1. - Fiduciary and continuing education requirements.
Section 36-8-5. - Vacancies on board.
Section 36-8-6. - Votes of board — Record of proceedings.
Section 36-8-7. - Reimbursement of board members.
Section 36-8-8. - Annual report and statement.
Section 36-8-8.2. - Special pension benefits.
Section 36-8-9. - Legal adviser — Treasurer — Executive officers and secretary.
Section 36-8-11. - Collection of actuarial and experience data.
Section 36-8-12. - Actuarial investigations authorized by board.
Section 36-8-13. - Periodic actuarial investigations and valuations — Adoption of tables and rates.
Section 36-8-14. - Annual valuation of assets and liabilities.
Section 36-8-15. - Custody and investment of funds.
Section 36-8-16. - Disposition of investment earnings.
Section 36-8-17. - Improper interest in investments of board.
Section 36-8-18. - Severability.
Section 36-8-19. - Annual audits.