§ 42-116-38. Depositor’s advisory board.
(a) There is created a three (3) member depositor’s advisory board. Members of the board shall be depositors in financial institutions which were closed as of January 1, 1991, and which are currently in receivership. One member shall be appointed by the house majority leader. One member shall be appointed by the president of the senate. One member shall be appointed by the governor. Each member shall serve a term of two (2) years as his or her successor is appointed. Members of the board shall serve without compensation. It shall be the role of the depositor’s advisory board to give advice to the Rhode Island depositors economic protection corporation concerning rules and regulations and legislation affecting the banking crisis; to study the effects, both long term and short term, of the banking crisis; to recommend to the corporation special studies and projects which it feels are needed to expedite a solution to the banking crisis. The board shall report its findings to the governor in January of each year.
(b) The board shall, at regular intervals, conduct business meetings for the purpose of carrying out its general business, and the meetings shall be open to the public and all records and minutes will be a matter of public record.
History of Section.P.L. 1992, ch. 9, § 4; P.L. 2001, ch. 180, § 130.
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.