Rhode Island General Laws
Chapter 42-116 - Rhode Island Depositors Economic Protection Corporation
Section 42-116-14. - Refunding bonds.

§ 42-116-14. Refunding bonds.
The corporation may issue refunding bonds for the purpose of paying any of its bonds issued pursuant to this chapter at or prior to maturity or upon acceleration or redemption or purchase and retirement. Refunding bonds may be issued at any times at or prior to the maturity, redemption, or purchase and retirement of the refunded bonds as the board of directors deems to be in the interest of the corporation. Refunding bonds may be issued in sufficient amounts to pay or provide for payment of the principal of the bonds being refunded, together with any redemption premium on these bonds, any interest or discount accrued or to accrue to the date of payment of these bonds, the costs of issuance of the refunding bonds, the expenses of paying, redeeming, or purchasing the bonds being refunded, the costs of holding and investing proceeds of refunding bonds pending the payment, redemption or purchase and the reserves for debt service or other expenses from the proceeds of these refunding bonds as may be required by a trust agreement securing the bonds. Pending application, the proceeds of the refunding bonds may be placed in escrow. The issue and sale of refunding bonds, the maturities and other details of the bonds, the security for the bonds, the rights of their holders, and the rights, duties, and obligations of the corporation in respect of the refunding bonds are governed by the provisions of this chapter relating to the issue of bonds other than refunding bonds insofar as that may be applicable.
History of Section.P.L. 1991, ch. 3, § 4.

Structure Rhode Island General Laws

Rhode Island General Laws

Title 42 - State Affairs and Government

Chapter 42-116 - Rhode Island Depositors Economic Protection Corporation

Section 42-116-1. - Short title.

Section 42-116-2. - Legislative findings.

Section 42-116-3. - Definitions.

Section 42-116-4. - Establishment of corporation — Composition of corporation — Appointment of directors.

Section 42-116-5. - General powers of corporation.

Section 42-116-5.1. - Sale of property.

Section 42-116-6. - Additional general powers.

Section 42-116-7. - Assumption of liabilities and distribution.

Section 42-116-8. - Officers.

Section 42-116-9. - Ethics.

Section 42-116-10. - Promulgation of regulations.

Section 42-116-11. - Payment of state funds — Agreement between corporation and department.

Section 42-116-12. - Payment of depositor’s claims.

Section 42-116-12.1. - Distribution of funds in individual retirement accounts.

Section 42-116-13. - Bonds of the corporation.

Section 42-116-14. - Refunding bonds.

Section 42-116-15. - Bonds eligible for investment.

Section 42-116-16. - No additional consent required.

Section 42-116-17. - Bonds not obligations of the state.

Section 42-116-18. - Lien status — Recording.

Section 42-116-19. - Investment securities.

Section 42-116-20. - Trust fund.

Section 42-116-21. - Authorization to accept appropriated monies.

Section 42-116-22. - Assistance by state officers, departments, boards and commissions.

Section 42-116-23. - Certain agreements.

Section 42-116-24. - Tax exemption.

Section 42-116-25. - Duration of corporation — Termination.

Section 42-116-25.1. - Defeasance of corporation bonds.

Section 42-116-25.2. - Indemnification.

Section 42-116-26. - Record keeping — Financial statements.

Section 42-116-27. - Inconsistent laws — Supplemental powers.

Section 42-116-28. - Compliance with federal law.

Section 42-116-29. - Inapplicability of certain laws.

Section 42-116-30. - Liability of the corporation.

Section 42-116-31. - Special revenue fund.

Section 42-116-32. - Corporation’s right to subrogation.

Section 42-116-33. - Performance review committee.

Section 42-116-34. - Severability.

Section 42-116-35. - Excess interest forfeiture.

Section 42-116-36. - Recording certain transfer documents.

Section 42-116-37. - Use of funds.

Section 42-116-38. - Depositor’s advisory board.

Section 42-116-39. - Payment of commission costs.

Section 42-116-40. - Court-approved settlements.

Section 42-116-41. - Loan portfolio valuation.