Section 42-155-1. – Title.

§ 42-155-1. Title. This chapter shall be known and may be cited as the “Quasi-Public Corporations Accountability and Transparency Act.” History of Section.P.L. 2014, ch. 482, § 1; P.L. 2014, ch. 509, § 1.

Section 42-155-10. – Severability.

§ 42-155-10. Severability. If any provision of this chapter, or of any rule or regulation made under this chapter, or its application to any person or circumstance is held invalid by a court of competent jurisdiction, the remainder of the chapter, rule, or regulation and the application of the provision to other persons or circumstances […]

Section 42-155-2. – Legislative findings.

§ 42-155-2. Legislative findings. It is hereby found that: (1) Quasi-public corporations are established and empowered by state law, and would not exist but for their relationship with the state. (2) Quasi-public corporations perform essential government functions and/or provide essential government services. (3) Many quasi-public corporations are granted the public power to collect fees and/or […]

Section 42-155-3. – Definitions.

§ 42-155-3. Definitions. (a) As used in this chapter, “quasi-public corporation” means any body corporate and politic created, or to be created, pursuant to the general laws, including, but not limited to, the following: (1) Capital center commission; (2) Rhode Island convention center authority; (3) Rhode Island industrial facilities corporation; (4) Rhode Island industrial-recreational building […]

Section 42-155-4. – Role and responsibilities of board members.

§ 42-155-4. Role and responsibilities of board members. (a) Board members of quasi-public corporations shall: (1) Execute oversight of the corporation, the chief executive, and other management in the effective and ethical management of the corporation; (2) Understand, review, and monitor the implementation of fundamental financial and management controls and operational decisions of the corporation; […]

Section 42-155-5. – Executive compensation.

§ 42-155-5. Executive compensation. (a) Each quasi-public corporation shall establish a committee on executive compensation, comprised solely of board members, that shall: (1) Recommend to the full board the compensation packages of the executive and senior management of the corporation. The compensation package of the executive officer shall be based on a comprehensive and objective […]

Section 42-155-6. – Transparency requirements established.

§ 42-155-6. Transparency requirements established. The following shall be public and, available to the public upon request and posted directly, or via direct link, on the website of each quasi-public corporation: (1) Job descriptions of the executive director and management; (2) Compensation comparability studies of the executive; (3) Quarterly financial statements; (4) Capital improvement plans; […]

Section 42-155-7. – Audit of quasi-public corporations.

§ 42-155-7. Audit of quasi-public corporations. (a) Commencing January 1, 2015, and every five (5) years thereafter, each quasi-public corporation shall be subject to a performance audit, conducted in compliance with the generally acceptable governmental auditing standards or the standards for the professional practice of internal auditing, by the chief of the office of internal […]

Section 42-155-8. – Outside employment.

§ 42-155-8. Outside employment. No employee of a quasi-public corporation may accept outside employment that will impair his or her judgment as to duties and responsibilities in the course of employment with the quasi-public corporation. Generally, outside employment is barred if the private employer can benefit from the official actions of the employee of the […]

Section 42-155-9. – Rules and regulations and other statutes.

§ 42-155-9. Rules and regulations and other statutes. When issuing rules and regulations, or any amendments to rules and regulations, or when adopting by laws or amendments to bylaws, each quasi-public corporation shall be subject to the provisions of chapter 35 of title 42 (“Administrative Procedures”). All quasi-public corporations shall be subject to the provisions […]