§ 42-105-1. Newport and Bristol County convention and visitors' bureau - Creation. (a) There is authorized, created and established a public corporation having a distinct legal existence from the state and not constituting a department of state government, which is a governmental agency and public instrumentality of the municipalities within Newport and Bristol Counties, to be known as the "Newport and Bristol County convention and visitors' bureau" with those powers as are set convention and visitors' bureau" with those powers as are set forth in this chapter.
(b) The exercise by the corporation of the powers conferred by this chapter shall be deemed and held to be the performance of an essential governmental function of the municipalities within Newport and Bristol County for public purposes. It is the intent of the general assembly by the passage of this chapter, to vest in the corporation all powers, authority, rights, privileges, and titles which may be necessary to enable it to accomplish the purposes herein set forth, and this chapter and the powers granted hereby shall be liberally construed in conformity with those purposes.
(c)(1) The corporation and its corporate existence shall continue until terminated by law or until the corporation shall cease entirely and continuously to conduct or be involved in any business whatsoever in the furtherance of its purposes.
(2) Upon termination of the existence of the corporation, all its rights and properties shall pass to and be vested in the state. At no time shall the assets or other property of the corporation inure to the benefit of any person or other corporation or entity.
History of Section. (P.L. 1988, ch. 418, § 1; P.L. 2005, ch. 42, § 1; P.L. 2009, ch. 205, § 3; P.L. 2009, ch. 242, § 3.)
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