§ 42-10-23. Deposit banks.
(a) The general treasurer shall designate the banks or trust companies in which all monies of the state, including pension funds, shall be deposited, and may change the banks and trust companies previously designated.
(b) The general treasurer may designate a bank or trust company which does not meet the criteria set forth in subsection (a) if it is determined that the deposit of state monies in that bank or trust company is necessary to obtain essential services which are not reasonably obtained from another bank or trust company. If the general treasurer finds that a bank or trust company previously designated as a depository of state monies has violated the criteria set forth in subsection (a), he or she shall give the bank or trust company an opportunity to be heard on this finding. If thereafter, it is concluded that the criteria has been violated, thirty days’ notice shall be given to the bank or trust company that its designation shall be terminated as of the expiration of the thirty (30) days.
History of Section.P.L. 1985, ch. 336, § 3; P.L. 1996, ch. 168, § 1.
Structure Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-10 - Treasury Department
Section 42-10-1. - General treasurer — Duties in general.
Section 42-10-2. - Bond of treasurer.
Section 42-10-3. - Deputy treasurers — Appointment and bond.
Section 42-10-4. - Delegation of powers to deputies.
Section 42-10-5. - Tenure of deputies.
Section 42-10-6. - Employment of assistance.
Section 42-10-7. - Seal of office.
Section 42-10-8. - Office of treasurer — Hours open.
Section 42-10-9. - Custodian of state property.
Section 42-10-10. - Money accounts.
Section 42-10-11. - Appropriation accounts.
Section 42-10-12. - Bond accounts — Bond capital fund.
Section 42-10-13. - Payments from treasury.
Section 42-10-13.1. - Federal tax identification number required.
Section 42-10-14. - Medium of bond payments.
Section 42-10-15. - Requiring payment of revenues.
Section 42-10-16. - Report and prosecution of delinquencies in payment.
Section 42-10-17. - Annual report to general assembly.
Section 42-10-18. - Contents of annual report.
Section 42-10-19. - Separation of receipts in report.
Section 42-10-20. - Report on indebtedness.
Section 42-10-21. - Report on special funds.
Section 42-10-22. - Report of amounts receivable — Law violations.