§ 42-14-6. Restrictions on interests of superintendents.
The superintendents of banking and insurance shall not engage in any other business or be an officer of or directly or indirectly interested in any national bank doing business in this state, or in any bank, savings bank, or trust company organized under the laws of this state, nor be directly or indirectly interested in any corporation, business, or occupation that requires his or her official supervision; absent compliance with § 42-14-6.1, no superintendent shall become indebted to any bank, savings bank, or trust company organized under the laws of this state, nor shall he or she engage or be interested in the sale of securities as a business, or in the negotiation of loans for others.
History of Section.P.L. 1908, ch. 1590, § 30; G.L. 1909, ch. 233, § 2; G.L. 1923, ch. 274, § 2; G.L. 1938, ch. 127, § 2; impl. am. P.L. 1939, ch. 660, § 122; G.L. 1956, § 42-14-6; P.L. 2018, ch. 47, art. 3, § 8.
Structure Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-14 - Department of Business Regulation
Section 42-14-1. - Establishment — Head of department.
Section 42-14-2. - Functions of department.
Section 42-14-2.1. - Reporting by certain insurers — Settlements.
Section 42-14-2.3. - Minimum policy provisions.
Section 42-14-2.4. - Repealed.
Section 42-14-4. - Financial services division.
Section 42-14-5. - Superintendents of banking and insurance.
Section 42-14-6. - Restrictions on interests of superintendents.
Section 42-14-6.1. - Application for or acceptance of loan by bank examiner.
Section 42-14-7. - Deputies to superintendents.
Section 42-14-8. - Clerical assistance and expenses.
Section 42-14-9. - Payment of expenses — Fees.
Section 42-14-11. - Subpoena power — False swearing.
Section 42-14-12. - Sales of businesses.
Section 42-14-13. - Transfer of powers and functions from department of business regulation.
Section 42-14-14. - License applications — Investigation.
Section 42-14-16. - Insurance — Administrative penalties.
Section 42-14-16.1. - Order to cease and desist.
Section 42-14-17. - Rules and regulations.