§ 45-21-40 - Improper interest in investments of board. - Rhode Island Statutes

SECTION 45-21-40

   § 45-21-40  Improper interest ininvestments of board. – Except as provided in this section, no member of the board and no employee ofthe board shall have any interest, direct or indirect, in the gains or profitsof any investment made by the retirement board, nor, as a member or employee ofthe board, directly or indirectly receive any pay or emolument for his or herservices. No member of the board or employee of the board shall, directly orindirectly, for himself or herself or as an agent, in any manner use theinvestment gains or profits, except to make current and necessary payments thatare authorized by the retirement board. No member or employee of the board maybecome an endorser or surety or become in any manner an obligor for moneysloaned or borrowed from the retirement board.