Chapter 055

2011 -- H 5598 SUBSTITUTE A

Enacted 06/08/11





     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 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 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 Providence or the presence on Amtrak's properties of any trains,

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 Providence or the

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 Providence.


     SECTION 2. This act shall take effect upon passage.



LC01229/SUB A