§ 34-45-10 - Rule making. - Rhode Island Statutes

SECTION 34-45-10

   § 34-45-10  Rule making. – (a) The department shall issue such rules and regulations as may be necessaryor appropriate to effectuate the purposes of this chapter. The rules andregulations shall include but need not be limited to:

   (1) Specific procedural safeguards to assure that everyperson and entity upon whom a right of first refusal is conferred by thischapter, in accordance with the order and priorities established by §34-45-8(c), is afforded a fair and reasonable opportunity to exercise theirright; and

   (2) Provisions as may be necessary or appropriate to assurethat a person upon whom a right of first refusal is conferred by this chaptershall be permitted:

   (i) Not less than sixty (60) days from receipt of any bonafide offer made pursuant to § 34-45-8 within which to accept the offer, and

   (ii) Not less than one hundred twenty (120) days from his orher acceptance of the offer within which to secure financing as may benecessary therefor.

   (b) Within sixty (60) days after June 10, 1988, thedepartment shall publish a form containing a summary of rights and obligationspursuant to this chapter, and sources of technical assistance, which shallinclude, but not be limited to, information regarding counseling, subsidyprograms, relocation services, housing purchase and rehabilitation financing,formation of tenant organizations, purchase of developments and conversion ofdevelopments to cooperative ownership.