R.I. Gen. Laws § 44-15-1.1 — “Credit Unions” and “deposits” defined

Whenever used in this chapter:
(1) “Credit union” means and includes a credit union with its principal place of business
or a branch of the credit union in this state.
(2) “Deposits” means and includes:
(i) Shares of stock, either fully or partly paid, plus deposits or time deposits of any
kind which bear interest or which are entitled to dividends. There shall be an amount
excluded from taxation under the provisions of this chapter equal to the percentage
of those deposits as shall equal that percentage of the daily average of the total
assets of the credit union during the calendar year invested in book value of obligations
of the United States, its territories and possessions and of any authority, commission,
or instrumentality of the United States exempt from state taxation under the laws
of the United States.
(ii) “Deposits” and “time deposits” as used in paragraph (i) of this subdivision also means
and includes deposits or savings made under any type of deposits or savings plan represented
by certificates of deposits, savings bonds, or income certificates issued by any institution,
or however these or similar time deposits or savings plan may be designated. “Deposits”
or “time deposits” as used above shall not include any deposits of a branch or office
of any credit union located outside of this state, whether it is established de novo
or acquired pursuant to an interstate merger, consolidation, or acquisition; provided,
that the deposits are made at a branch or office outside of this state, or any international
credit union facility of any credit union, as defined in regulations of the national
credit union administration or which are payable only at an office located outside
of the United States.