§ 42-14-9 - Payment of expenses – Fees.
SECTION 42-14-9
§ 42-14-9 Payment of expenses – Fees.– (a) The general assembly shall annually appropriate such sum as it may deemnecessary for the payment of the salary of the administrator of banking andinsurance, for the payment of the salaries of his or her deputies and for thepayment of the clerical and other assistance, office and traveling expenses ofthe administrator of banking and insurance, his or her deputies and assistants,and the state controller is hereby authorized and directed to draw his or herorders for the payment of those sums, or so much of them as may from time totime be required, upon receipt by him or her of proper vouchers, approved bythe director of business regulation. All fees, charges for examinations andother collections received by him or her as administrator of banking,insurance, and securities shall be paid to the general treasurer for the use ofthe state.
(1) Certain operational costs of the department of businessregulation are eligible for reimbursement from third parties, including, butnot limited to, costs of licensing, and shall also include the followingexpenses:
(i) All reasonable technology costs related to theexamination and licensing process. Technology costs shall include the actualcost of software and hardware utilized in the licensing process and the cost oftraining personnel in the proper use of the software or hardware.
(ii) All necessary and reasonable education and trainingcosts incurred by the state to maintain the proficiency and competence of theexamining and licensing personnel. All these costs shall be incurred inaccordance with appropriate state of Rhode Island regulations, guidelines andprocedures.
(iii) All revenues collected pursuant to this section shallbe deposited as restricted receipts.
(2) There is created within the general fund a restrictedreceipt account to be known as the "banking division reimbursement account".All funds in the account shall be utilized by the department of businessregulation to effectuate the provisions of § 42-14-9(b). All fundsreceived for the securities division pursuant to § 42-14-9(b) shall bedeposited in the securities division reimbursement account. The generaltreasurer is authorized and directed to draw his or her orders on the accountupon receipt of properly authenticated vouchers from the department of businessregulation.
(3) There is created within the general fund a restrictedreceipt account to be known as the "office of the health insurance commissionerreimbursement account". All funds in the account shall be utilized by thedepartment of business regulation to effectuate the provisions of §42-14-9(b) that relate to reimbursements. All funds received for the healthinsurance commissioner pursuant to § 42-14-9(b) shall be deposited in theoffice of the health insurance commissioner reimbursement account. The generaltreasurer is authorized and directed to draw his or her orders on the accountupon receipt of properly authenticated vouchers from the department of businessregulation.
(4) There is created within the general fund a restrictedreceipt account to be known as the "securities division reimbursement account".All funds in the account shall be utilized by the department of businessregulation to effectuate the provisions of § 42-14-9(b) that relate toreimbursements. All funds received for the securities division pursuant to§ 42-14-9(b) shall be deposited in the securities division reimbursementaccount. The general treasurer is authorized and directed to draw his or herorders on the account upon receipt of properly authenticated vouchers from thedepartment of business regulation.
(5) There is created within the general fund a restrictedreceipt account to be known as the "commercial licensing and racing andathletics division reimbursement account". All funds in the account shall beutilized by the department of business regulation to effectuate the provisionsof § 42-14-9(b) that relate to reimbursements. All funds received for thecommercial licensing and racing and athletics division pursuant to §42-14-9(b) shall be deposited in the commercial licensing and racing andathletics division reimbursement account. The general treasurer is authorizedand directed to draw his or her orders on the account upon receipt of properlyauthenticated vouchers from the department of business regulation.
(6) There is created within the general fund a restrictedreceipt account to be known as the "insurance division reimbursement account".All funds in the account shall be utilized by the department of businessregulation to effectuate the provisions of § 42-14-9(b) that relate toreimbursements. All funds received for the insurance division pursuant to§ 42-14-9(b) shall be deposited in the insurance division reimbursementaccount. The general treasurer is authorized and directed to draw his or herorders on the account upon receipt of properly authenticated vouchers from thedepartment of business regulation.