Rhode Island § 42-14-9 - Department of Business Regulation

§ 42-14-9. Payment of expenses — Fees.

(a) The general assembly shall annually appropriate such sum as it may deem necessary for the payment of the salary of the administrator of banking and insurance, for the payment of the salaries of his or her deputies and for the payment of the clerical and other assistance, office and traveling expenses of the administrator of banking and insurance, his or her deputies and assistants, and the state controller is hereby authorized and directed to draw his or her orders for the payment of those sums, or so much of them as may from time to time be required, upon receipt by him or her of proper vouchers, approved by the director of business regulation. All fees, charges for examinations, and other collections received by him or her as administrator of banking, insurance, and securities shall be paid to the general treasurer for the use of the state.

(b) Reimbursements.

(1) Certain operational costs of the department of business regulation are eligible for reimbursement from third parties, including, but not limited to, costs of licensing, and shall also include the following expenses:

(i) All reasonable technology costs related to the examination and licensing process. Technology costs shall include the actual cost of software and hardware utilized in the licensing process and the cost of training personnel in the proper use of the software or hardware.

(ii) All necessary and reasonable education and training costs incurred by the state to maintain the proficiency and competence of the examining and licensing personnel. All these costs shall be incurred in accordance with appropriate state of Rhode Island regulations, guidelines, and procedures.

(iii) All revenues collected pursuant to this section shall be deposited as restricted receipts.

(2) There is created within the general fund a restricted receipt account to be known as the “banking division reimbursement account.” All funds in the account shall be utilized by the department of business regulation to effectuate the provisions of this subsection (b). All funds received for the banking division pursuant to this subsection (b) shall be deposited in the banking division reimbursement account. The general treasurer is authorized and directed to draw the treasurer’s orders on the account upon receipt of properly authenticated vouchers from the department of business regulation.

(3) There is created within the general fund a restricted receipt account to be known as the “office of the health insurance commissioner reimbursement account.” All funds in the account shall be utilized by the department of business regulation to effectuate the provisions of this subsection (b) that relate to reimbursements. All funds received for the health insurance commissioner pursuant to this subsection (b) shall be deposited in the office of the health insurance commissioner reimbursement account. The general treasurer is authorized and directed to draw the treasurer’s orders on the account upon receipt of properly authenticated vouchers from the department of business regulation.

(4) There is created within the general fund a restricted receipt account to be known as the “securities division reimbursement account.” All funds in the account shall be utilized by the department of business regulation to effectuate the provisions of this subsection (b) that relate to reimbursements. All funds received for the securities division pursuant to this subsection (b) shall be deposited in the securities division reimbursement account. The general treasurer is authorized and directed to draw the treasurer’s orders on the account upon receipt of properly authenticated vouchers from the department of business regulation.

(5) There is created within the general fund a restricted receipt account to be known as the “commercial licensing and racing and athletics division reimbursement account.” All funds in the account shall be utilized by the department of business regulation to effectuate the provisions of this subsection (b) that relate to reimbursements. All funds received for the commercial licensing and racing and athletics division pursuant to this subsection (b) shall be deposited in the commercial licensing and racing and athletics division reimbursement account. The general treasurer is authorized and directed to draw the treasurer’s orders on the account upon receipt of properly authenticated vouchers from the department of business regulation.

(6) There is created within the general fund a restricted receipt account to be known as the “insurance division reimbursement account.” All funds in the account shall be utilized by the department of business regulation to effectuate the provisions of this subsection (b) that relate to reimbursements. All funds received for the insurance division pursuant to this subsection (b) shall be deposited in the insurance division reimbursement account. The general treasurer is authorized and directed to draw the treasurer’s orders on the account upon receipt of properly authenticated vouchers from the department of business regulation.