Find Laws Find Lawyers Free Legal Forms USA State Laws

RHODE ISLAND STATUTES AND CODES

§ 35-4-4.3 - State Linked Deposit Policy – Deposit of funds.

SECTION 35-4-4.3

   § 35-4-4.3  State Linked Deposit Policy– Deposit of funds. – The state, and its agencies and quasi-public authorities, shall invest or holdfunds on deposit, whether temporarily or permanently, only at federally insuredand regulated banks that are deemed to be financially sound or in money fundsoffered by banks directly or through their affiliates or subsidiaries,according to state investment commission rules, regulations, and guidelines andalso in full compliance with the federal Community Reinvestment Act (CRA), 12U.S.C. § 2901 et seq. Initially, full compliance shall mean that the bankhas been reviewed at least once by the appropriate federal regulatory authorityand has achieved the "outstanding" or "satisfactory" rating for compliance atthe time of its latest review. Should a bank's rating fall below"satisfactory", the state shall have a reasonable amount of time to withdrawits funds. Preference will be given in the placement of state funds to thosebanks which have achieved a CRA rating of "outstanding". A system fordetermining this preference will be established in writing by the generaltreasurer after consultation with the state investment commission.

Rhode Island Forms by Issue

Rhode Island Court Forms
> Traffic
> Civil (District)
Rhode Island Employment Forms
Rhode Island Family Forms
Rhode Island Tax Forms

Rhode Island Law

Rhode Island State Laws
    > Rhode Island Child Support
    > Rhode Island Gun Laws
    > Rhode island Statute
Rhode Island Tax
    > Rhode Island State Tax
Rhode Island Agencies
    > Rhode Island DMV

Rhode Island Court Map

Tips