§ 42-63.4-1. New Shoreham tourism council bureau - Creation. (a) There is authorized, created and established a public corporation of the town of New Shoreham 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 town of New Shoreham, to be known as the "New Shoreham Tourism Council, Inc." with the powers set forth in this chapter.

(b) The New Shoreham Tourism Council shall consist of seven (7) members who are residents of the Town of New Shoreham. The members shall be appointed by the town council of New Shoreham. The members of the New Shoreham Tourism Council shall serve for a term of two (2) years and shall elect from their members a chairperson.

(c) 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 town of New Shoreham for public purposes. It is the intent of the general assembly by enactment 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.

(d)(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 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. 1992, ch. 28, § 2; P.L. 2005, ch. 241, § 6; P.L. 2005, ch. 319, § 6.)