§ 16-32-12 - Acquisition of land – Guaranty of loans to societies of students.
SECTION 16-32-12
§ 16-32-12 Acquisition of land –Guaranty of loans to societies of students. – The board of governors for higher education is authorized and empowered onbehalf of the University of Rhode Island to acquire land and also to guaranteein the name of the state approved loans made to societies of students at theuniversity, for the purchase or construction, upon lands owned by theuniversity, of society houses which shall serve as student dormitories. Anyloans approved, upon default, shall become state obligations in the same manneras any state bond.