§ 19-3-12 - Authorized reserve agents. - Rhode Island Statutes

SECTION 19-3-12

   § 19-3-12  Authorized reserve agents.– Reserve agents shall only include financial institutions or national bankingassociations in, and members of the clearing house association of, the city ofProvidence; and national banks, federally insured corporate central creditunions located within the six (6) New England states, and banks or trustcompanies incorporated by the state in which they are located, and which areapproved by the director or the director's designee, and which are members ofthe federal reserve system, or which maintain the reserve required by theFederal Reserve Act, 12 U.S.C. § 221 et seq., in the manner provided bythat act.