§ 42-116-39. Payment of commission costs.
(a) From time to time, after submission to the corporation by the commission of properly authenticated invoices for commission costs, together with other documentation substantiating and describing in detail as the corporation may reasonably request and after review by the auditor general, the corporation shall pay or cause to be paid the approved commission costs, but in no event shall the corporation pay or be liable for commission costs and expenses in the aggregate of no more than three million eight hundred thousand dollars ($3,800,000). The corporation is entitled to obtain, have access to, and use in its absolute discretion all materials, documents, instruments, investigations, data, information, and knowledge obtained, provided for or produced in connection with the work of the commission and has the right to employ for its own purposes the services of any of the accountants, consultants, or investigators employed by the commission at its own expense.
(b) The corporation is subrogated to all rights, claims, and causes of action which the commission may have against any person who performs services or supplies goods to the commission. Nothing in this section, however, shall be deemed to grant to the corporation any right to direct or control the activities of the commission.
History of Section.P.L. 1992, ch. 112, § 2.
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.