§ 42-116-9. Ethics.
(a) Each director, officer and employee of the corporation is deemed to be an employee of the governor for purposes of Executive Order No. 91-1, dated January 1, 1991, as amended from time to time, and for the purposes of the Rhode Island Code of Ethics in Government, §§ 36-14-4 — 36-14-7.
(b) To the extent that the rules established under this subsection conflict with the rules of other agencies or government corporations, officers, directors and employees of the corporation, who are also subject to the conflict of interest or ethical rules of another agency or government corporation, are governed by the rules and regulations established by the corporation under this subsection when acting for or on behalf of the corporation.
(c) If any director, officer, or employee of the corporation is interested either directly or indirectly, or is a director, officer, or employee of or has an ownership interest (other than as the owner of less than one percent (1%) of the shares of a publicly-held corporation) in any firm or corporation interested directly or indirectly in any contract with the corporation, that interest shall be disclosed to the corporation and set forth in the minutes of the corporation, and the director, officer, or employee having that interest shall not participate on behalf of the corporation in the authorization of any contract. Interested directors may be counted in determining the presence of a quorum at a meeting of the board of directors of the corporation, which authorizes the contract or transaction.
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.