- In accordance with § 4-51-105(a)(16), the corporation shall establish and maintain bank accounts only in institutions deemed to be qualified public depositories pursuant to title 9, chapter 4, part 5; provided, however, that if business needs dictate the establishment of accounts with an institution other than a qualified public depository, the corporation may create such accounts after filing a statement with the state funding board describing the business need for accounts at such an institution and the corporation’s plan for securing funds on deposit with such an institution.
- For purposes of § 45-2-611, the corporation shall be considered a “governmental entity” and funds in its possession shall be deemed to be “public funds.”