Chapter 055
2011 -- H 5598 SUBSTITUTE A
Enacted 06/08/11
A N A C T
RELATING TO STATE AFFAIRS AND GOVERNMENT - RHODE ISLAND PUBLIC RAIL CORPORATION ACT
Introduced By: Representatives Lally, and Walsh
Date Introduced: March 03, 2011
It is enacted by the
General Assembly as follows:
SECTION 1. Section 42-64.2-4 of the General Laws in Chapter
42-64.2 entitled "Rhode
Island Public Rail
Corporation Act" is hereby amended to read as follows:
42-64.2-4. General
powers. -- Except to the extent inconsistent
with any specific
provision of this chapter, the
(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 which 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, 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
by-laws, not inconsistent with this chapter, for the administration
and regulation of the affairs of the corporation; those
by-laws 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 section 7-1.2-814;
(12) To be a promoter,
partner, member, associate, or manager of any partnership,
enterprise, or venture; and
(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 which would not have occurred or would not have been
incurred but for the existence of
commuter rail service south of
passengers, employees, contractors, or invitees of the state or
its designated operator.
(15) To defend,
indemnify and save harmless its designated operator for all damage or
liability for personal injury or property damages which would
not have occurred or would not
have not been incurred but for the existence of
commuter rail service south of
designated operator's activities except for damages or
liability attributable directly to the
designated operator's own negligence or misconduct, all pursuant to the terms and conditions to
be set forth in the designated operator's agreement
for an agreement to be entered into by and
between the corporation and the designated operator prior to
implementation of the commuter
rail service south of
SECTION 2. This act shall take effect upon passage.
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LC01229/SUB A
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