Section 35-10.2-1. – Short title.

§ 35-10.2-1. Short title. This chapter shall be known and may be cited as the “Rhode Island Local Government Investment Pool Act”. History of Section.P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, § 1.

Section 35-10.2-10. – Rules and regulations.

§ 35-10.2-10. Rules and regulations. The general treasurer, subject to the approval of the commission, shall by rule prescribe the time periods for investments in the investment pool and the procedure for withdrawal of funds from the investment pool. The state treasurer shall promulgate such other rules as are deemed necessary for the efficient operation […]

Section 35-10.2-11. – Severability.

§ 35-10.2-11. Severability. The holding of any section or sections or parts thereof to be void, ineffective, or unconstitutional for any cause shall not be deemed to affect any other section or part thereof. History of Section.P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, § 1.

Section 35-10.2-2. – Purpose.

§ 35-10.2-2. Purpose. The purpose of this chapter is to enable eligible governmental entities to participate with the state in providing maximum opportunities for the investment of public funds consistent with safety and protection of such funds. It is the intention of the general assembly in enabling the general treasurer with the approval of the […]

Section 35-10.2-3. – Definitions.

§ 35-10.2-3. Definitions. As used in this chapter, the following terms, unless the context requires a different interpretation, have the following meanings: (1) “Commission” means the state investment commission; (2) “Participation Unit” means the equal proportionate share into which the beneficial interest in the trust is divided and includes a fraction of a unit as […]

Section 35-10.2-4. – Establishing investment pools.

§ 35-10.2-4. Establishing investment pools. Notwithstanding and general or special law or regulation to the contrary, the general treasurer may establish, subject to the approval of the commission, one or more investment pool trust funds containing certain monies in accordance with § 35-10.2-5. History of Section.P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, […]

Section 35-10.2-5. – Monies included in investment pools.

§ 35-10.2-5. Monies included in investment pools. Each investment pool trust fund may contain any or a combination of any of the following: (1) Monies of the several funds of the state according to § 35-10-2; (2) The proceeds of all bond issues not immediately required; or (3) The funds under the custody of agencies, […]

Section 35-10.2-6. – Trustee of the funds.

§ 35-10.2-6. Trustee of the funds. The general treasurer shall serve as trustee for each established investment pool trust fund in accordance with this chapter. History of Section.P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, § 1.

Section 35-10.2-7. – Investment of funds.

§ 35-10.2-7. Investment of funds. The general treasurer shall invest each investment pool trust fund in instruments prescribed, and in amounts approved, by the commission in accordance with § 35-10-6. History of Section.P.L. 2011, ch. 284, § 1; P.L. 2011, ch. 307, § 1.

Section 35-10.2-8. – Participation units.

§ 35-10.2-8. Participation units. The general treasurer is authorized to sell to all agencies, authorities, commissions, boards, municipalities, political subdivisions, and other public units of the state, participation units in any such combined investment trust fund. Such participation units are made legal investments for all the funds under the custody of such agencies, authorities, commissions, […]

Section 35-10.2-9. – Reporting.

§ 35-10.2-9. Reporting. (a) The general treasurer shall keep a separate account of each participant having funds in the investment pool. Each separate account shall record the individual amounts deposited in the investment pool, the date of withdrawals, and the earnings credited or paid. The general treasurer shall report monthly the status of the respective […]