R.I. Gen. Laws § 42-64.2-4

Current through 2024 Public Law 457

Section 42-64.2-4 - General powers

Except to the extent inconsistent with any specific provision of this chapter, the Rhode Island public rail corporation shall have power:

(1) To sue and be sued, complain and defend, in its corporate name;

(2) To have a seal, which may be altered at pleasure, and to use the seal by causing it, or a facsimile thereof, to be impressed or affixed or in any other manner reproduced;

(3) To purchase, take, receive, lease, or otherwise acquire, own, hold, improve, use, and otherwise deal in and with, real or personal property, or any interest therein, wherever situated;

(4) To re-convey, lease, or sell real property acquired. Upon the sale of any real property or interest therein that is held by the corporation, the proceeds from the sale shall be transferred to the general fund of the state.

(5) To make contracts and guarantees and incur liabilities, and borrow money at any rates of interest that the corporation may determine;

(6) To make and execute agreements of lease, conditional sales contracts, installment sales contracts, loan agreements, mortgages, construction contracts, operation contracts, and other contracts and instruments necessary or convenient in the exercise of the powers and functions of the corporation granted by this chapter;

(7) To lend money for its purposes, invest and reinvest its funds, and at its option to take and hold real and personal property as security for the payment of funds so loaned or invested;

(8) To acquire, or contract to acquire, from any person, firm, corporation, municipality, the federal government or the state, or any agency of either the federal government or state, by grant, purchase, lease, gift, condemnation or otherwise, or to obtain options for the acquisition of any property, real or personal, improved or unimproved, and interests in land less than the fee thereof; and to own, hold, improve, develop, and rehabilitate, and to sell, assign, exchange, transfer, convey, lease, mortgage, or otherwise dispose or encumber the property for the purposes of carrying out the provisions and intent of this chapter, for any consideration the corporation shall determine;

(9) To conduct its activities, carry on its operations, and have offices, and exercise the powers granted by this chapter, within or without the state;

(10) To elect or appoint officers and agents of the corporation, and define their duties and fix their compensation;

(11) To make and alter bylaws, not inconsistent with this chapter, for the administration and regulation of the affairs of the corporation; those bylaws may contain provisions indemnifying any person who is or was a director, officer, employee, or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, in the manner and to the extent provided in § 7-1.2-814;

(12) To be a promoter, partner, member, associate, or manager of any partnership, enterprise, or venture;

(13) To have and exercise all powers necessary or convenient to effect its purposes;

(14) To defend, indemnify and save harmless the National Railroad Passenger Corporation ("Amtrak") and third parties for all damage or liability for personal injury or property damages that would not have occurred or would not have been incurred but for the existence of commuter rail service in Rhode Island or the presence on Amtrak's properties of any trains, passengers, employees, contractors, or invitees of the state or its designated operator; and

(15) To defend, indemnify and save harmless its designated operator for all damage or liability for personal injury or property damages that would not have occurred or would not have been incurred but for the existence of commuter rail service in Rhode Island or the designated operator's activities pursuant to the terms and conditions set forth in the designated operator's agreement for commuter rail service in Rhode Island.

R.I. Gen. Laws § 42-64.2-4

Amended by 2018 Pub. Laws, ch. 258, § 1, eff. 7/2/2018.

Amended by 2018 Pub. Laws, ch. 231, § 1, eff. 7/2/2018.

P.L. 1982, ch. 205, § 1; P.L. 1986, ch. 198, § 40; P.L. 1990, ch. 65, art. 35, §1; P.L. 2005 , ch. 36, § 29; P.L. 2005 , ch. 72, § 29; P.L. 2008 , ch. 59, § 1; P.L. 2011 , ch. 55, § 1; P.L. 2011 , ch. 66, § 1.