§ 18-4.1-5 - Notice and Conversion Fee. - Rhode Island Statutes

SECTION 18-4.1-5

   § 18-4.1-5  Notice and Conversion Fee.– (a) The transacting parties shall notify the department of attorney generalwithin five (5) business days after entering into an agreement for conversionof public radio station, and in no event later than the date on which anapplication to transfer, assign or amend the license of a public radio stationto permit commercial operations is filed with the FCC. In the event thedepartment of attorney general concludes that a conversion has occurred and didnot constitute a community benefit, or a conversion is proposed to occur andwill likely not constitute a community benefit, the department of attorneygeneral shall have the authority to order the acquirer to pay to anorganization pursuant to § 18-4.1-11 below, a conversion fee uponconsummation of the conversion of an amount not to exceed the sum of alldonations made to the acquiree related to its public radio station since itsinception, plus two (2) times the average annual revenue received by theacquiree related to its public radio station during the preceding three (3)years. The amount of the conversion fee should be sufficient in the attorneygeneral's opinion, to finance production of the public radio programming lostin the conversion. In order to evaluate whether the conversion constitutes acommunity benefit, the transacting parties shall be entitled to file suchinformation with the department of attorney general as they may elect and asthe department of attorney general may request.

   (b) Two (2) copies of the initial application shall beaddressed to the attorney general, and sent to the department of attorneygeneral either by hand (provided the deliverer obtains a receipt from thedepartment of attorney general for the delivery) or by United States mail,certified, return receipt requested.

   (c) Except for information determined by the attorney generalin accordance with § 18-4.1-14 to be confidential and/or proprietary, orotherwise required by law to be maintained as confidential, the initialapplication and supporting documentation shall be considered public records andshall be available for inspection upon request.