§ 42-116-29. Inapplicability of certain laws.
(a) The corporation is authorized and empowered to acquire and to dispose of real property without the necessity of obtaining the approval of the state properties committee or otherwise complying with the provisions of chapter 6 of title 37.
(b) Nothing in this statute or in the activities of the corporation constitutes a state mandate within the meaning of § 45-13-7, et seq.
(c) Employees of the corporation are not, by reason of that employment, deemed to be employees of the state for any purpose, any other provision of the general laws to the contrary notwithstanding, including without limiting the generality of the foregoing, titles 28 and 36.
(d) Neither the corporation nor its board of directors are exempt from the provisions of chapter 2 of title 38, or chapter 46 of this title.
(e) The corporation establishes internal purchasing procedures consistent with the provisions of chapter 2 of title 37.
(f) The corporation is authorized and empowered to acquire the assets of an eligible institution, dispose of those assets, and assume liabilities of an eligible institution without the necessity of complying with the provisions of title 37.
History of Section.P.L. 1991, ch. 3, § 4.
Structure 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 42-116-5. - 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 42-116-10. - 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.