§ 35-12-6 - Additional powers. - Rhode Island Statutes

SECTION 35-12-6

   § 35-12-6  Additional powers. – In addition to the powers enumerated in § 35-12-5, the corporation shallhave power to:

   (1) Purchase accounts from the university for suchconsideration and upon such terms and conditions as the corporation shalldetermine;

   (2) Pledge purchased accounts as security for any borrowingsundertaken by the corporation or sell the accounts for such consideration andon such terms and conditions as the corporation shall determine;

   (3) Borrow money and issue notes and provide for the rightsof the holders thereof, and secure the notes by assignment, pledge, or grantingof a security interest in accounts, including, without limitation, all or apart of its interest in accounts for the purpose of providing funds toeffectuate its purposes under this chapter; and

   (4) Create and establish such other fund or funds as may benecessary or desirable for its corporate purposes.