Rhode Island § 42-116-39 - Rhode Island Depositors Economic Protection Corporation

§ 42-116-39. Payment of commission costs.

(a) From time to time, after submission to the corporation by the commission of properly authenticated invoices for commission costs, together with other documentation substantiating and describing in detail as the corporation may reasonably request and after review by the auditor general, the corporation shall pay or cause to be paid the approved commission costs, but in no event shall the corporation pay or be liable for commission costs and expenses in the aggregate of no more than three million eight hundred thousand dollars ($3,800,000). The corporation is entitled to obtain, have access to, and use in its absolute discretion all materials, documents, instruments, investigations, data, information, and knowledge obtained, provided for or produced in connection with the work of the commission and has the right to employ for its own purposes the services of any of the accountants, consultants, or investigators employed by the commission at its own expense.

(b) The corporation is subrogated to all rights, claims, and causes of action which the commission may have against any person who performs services or supplies goods to the commission. Nothing in this section, however, shall be deemed to grant to the corporation any right to direct or control the activities of the commission.