A retirement system is hereby established and placed under the management of the retirement board for the purpose of providing retirement allowances for employees of the state of Rhode Island under the provisions of chapters 8 — 10 of this title. The retirement system so created shall begin operation as of July 1, 1936. It shall have the power and privileges of a corporation and shall be known as the "employees' retirement system of the state of Rhode Island", and by that name all of its business shall be transacted, all of its funds invested, and all of its cash, securities, and other property held.
History of Section.
P.L. 1936, ch. 2334, § 2; G.L. 1938, ch. 18, § 2; G.L. 1956, § 36-8-2.