Rhode Island § 42-10-23 - Treasury Department
Full text of Rhode Island Rhode Island General Laws § 42-10-23 — Treasury Department, with citation guidance and answers to common questions.
§ 42-10-23. Treasury Department
R.I. Gen. Laws § 42-10-23
§ 42-10-23. Deposit banks.
(a) The general treasurer shall designate the banks or trust companies in which all monies of the state, including pension funds, shall be deposited, and may change the banks and trust companies previously designated.
(b) The general treasurer may designate a bank or trust company that does not meet the criteria set forth in subsection (a) if it is determined that the deposit of state monies in that bank or trust company is necessary to obtain essential services that are not reasonably obtained from another bank or trust company. If the general treasurer finds that a bank or trust company previously designated as a depository of state monies has violated the criteria set forth in subsection (a), the general treasurer shall give the bank or trust company an opportunity to be heard on this finding. If thereafter, it is concluded that the criteria has been violated, thirty (30) days’ notice shall be given to the bank or trust company that its designation shall be terminated as of the expiration of the thirty (30) days.
History of Section.
P.L. 1985, ch. 336, § 3; P.L. 1996, ch. 168, § 1.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 42-10-23
What does Rhode Island General Laws § 42-10-23 cover?
Section 42-10-23 ("Treasury Department") 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 § 42-10-23?
A common citation format is "Rhode Island General Laws § 42-10-23" (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 § 42-10-23 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.