Section 10-21-3. – Notice and opportunity for hearing.
§ 10-21-3. Notice and opportunity for hearing. (a) Except as otherwise provided in subsection (b) of this section, the court may issue an order under this chapter only after notice and opportunity for a hearing appropriate in the circumstances. (b) The court may issue an order under this chapter: (1) Without prior notice if the […]
Section 10-21-14.1. – Stay in a temporary non-liquidating receivership.
§ 10-21-14.1. Stay in a temporary non-liquidating receivership. On appointment of a temporary non-liquidating receiver, the stay under § 10-21-14(a) is effective for the period that the court considers necessary, but not more than ninety (90) days. The court may extend the stay in increments of not more than thirty (30) days. History of Section.P.L. […]
Section 10-21-3.1. – Administrative and procedural orders in temporary non-liquidating receivership.
§ 10-21-3.1. Administrative and procedural orders in temporary non-liquidating receivership. The general assembly acknowledges that: (1) The presiding justice of the superior court may issue administrative orders governing the procedures in temporary non-liquidating receiverships. (2) The business calendar justice to whom a temporary non-liquidating receivership has been assigned may issue procedural orders in the temporary […]
Section 10-21-15. – Engagement and compensation of professional.
§ 10-21-15. Engagement and compensation of professional. (a) With court approval, a receiver may engage an attorney, accountant, appraiser, auctioneer, broker, or other professional to assist the receiver in performing a duty or exercising a power of the receiver. The receiver shall disclose to the court: (1) The identity and qualifications of the professional; (2) […]
Section 10-21-4. – Scope — Exclusions.
§ 10-21-4. Scope — Exclusions. (a) Except as otherwise provided in subsection (b) or (c) of this section, this chapter applies to a receivership for an interest in any one or more of the following: (1) Real property and any personal property related to or used in operating the real property; or (2) Personal property […]
Section 10-21-16. – Use or transfer of receivership property not in the ordinary course of business.
§ 10-21-16. Use or transfer of receivership property not in the ordinary course of business. (a) In this section, “good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing. (b) With court approval, a receiver may use receivership property other than in the ordinary course of business. (c) With […]
Section 10-21-1. – Short title.
§ 10-21-1. Short title. This chapter shall be known and may be cited as the “Rhode Island Commercial Receivership Act.” History of Section.P.L. 2022, ch. 107, § 1, effective June 20, 2022; P.L. 2022, ch. 108, § 1, effective June 20, 2022.
Section 10-21-2. – Definitions.
§ 10-21-2. Definitions. As used in this chapter: (1) “Affiliate” means: (i) With respect to an individual: (A) A companion of the individual; (B) A lineal ancestor or descendant, whether by blood or adoption of: (I) The individual; or (II) A companion of the individual; (C) A companion of an ancestor or descendant described in […]
Section 10-21-2.1. – Additional definitions for emergency declaration temporary non-liquidating receivership.
§ 10-21-2.1. Additional definitions for emergency declaration temporary non-liquidating receivership. In this chapter: (1) “Emergency” means a serious, dangerous, or unexpected situation that causes or potentially causes widespread or substantial loss of life, injury, damage, or public health concern for a significant number of persons or substantial loss of property, including a “disaster” as defined […]