Rhode Island § 19-13-3 - Banking Emergencies
Full text of Rhode Island Rhode Island General Laws § 19-13-3 — Banking Emergencies, with citation guidance and answers to common questions.
§ 19-13-3. Banking Emergencies
R.I. Gen. Laws § 19-13-3
§ 19-13-3. Segregation of new cash deposits.
Cash deposits, called “new cash deposits”, received by any regulated institution after an order of the director issued under the provisions of this chapter suspending or restricting withdrawals of currency from that regulated institution, and while the order remains in force either in whole or in part, shall not be subject, by reason of the order, to any limitation or restriction as to payment or withdrawal in currency or otherwise, and shall be segregated and held or invested and used solely to meet the new cash deposit liability; provided, however, that the aggregate amount of cash representing those deposits shall be kept separately in cash, or on deposit in Federal Reserve banks, or invested in obligations of the United States, or as may otherwise be authorized from time to time by order of the Secretary of the Treasury of the United States or other constituted federal authority.
History of Section.
P.L. 1995, ch. 82, § 51.
Frequently Asked Questions About Rhode Island § 19-13-3
What does Rhode Island General Laws § 19-13-3 cover?
Section 19-13-3 ("Banking Emergencies") is part of the Rhode Island General Laws, the codified statutory law of Rhode Island. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Rhode Island § 19-13-3?
A common citation format is "Rhode Island General Laws § 19-13-3" (Rhode Island). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Rhode Island law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Rhode Island official source linked on this page or consult a licensed Rhode Island attorney.
How does Rhode Island § 19-13-3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Rhode Island can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Rhode Island.