§ 10-21-12. Powers and duties of receiver.
(a) Except as limited by court order or law of this state other than this chapter, a receiver may:
(1) Collect, control, manage, conserve, and protect receivership property;
(2) Operate a business constituting receivership property, including preservation, use, sale, lease, license, exchange, collection, or disposition of the property in the ordinary course of business;
(3) In the ordinary course of business, incur unsecured debt and pay expenses incidental to the receiver’s preservation, use, sale, lease, license, exchange, collection, or disposition of receivership property;
(4) Assert a right, claim, cause of action, or defense of the owner which relates to receivership property;
(5) Seek and obtain instruction from the court concerning receivership property, exercise of the receiver’s powers, and performance of the receiver’s duties;
(6) On subpoena, compel a person to submit to examination under oath, or to produce and permit inspection and copying of designated records or tangible things, with respect to receivership property or any other matter that may affect administration of the receivership;
(7) Engage a professional as provided in § 10-21-15;
(8) Apply to a court of another state for appointment as ancillary receiver with respect to receivership property located in that state; and
(9) Exercise any power conferred by court order, this chapter, or law of this state other than this chapter.
(b) With court approval, a receiver may:
(1) Incur debt for the use or benefit of receivership property other than in the ordinary course of business;
(2) Make improvements to receivership property;
(3) Use or transfer receivership property other than in the ordinary course of business as provided in § 10-21-16;
(4) Adopt or reject an executory contract of the owner as provided in § 10-21-17;
(5) Pay compensation to the receiver as provided in § 10-21-21, and to each professional engaged by the receiver as provided in § 10-21-15;
(6) Recommend allowance or disallowance of a claim of a creditor as provided in § 10-21-20; and
(7) Make a distribution of receivership property as provided in § 10-21-20.
(c) A receiver shall:
(1) Prepare and retain appropriate business records, including a record of each receipt, disbursement, and disposition of receivership property;
(2) Account for receivership property, including the proceeds of a sale, lease, license, exchange, collection, or other disposition of the property;
(3) Record with the land evidence records of each city or town in which the property is located a copy of the order appointing the receiver and, if a legal description of the real property is not included in the order, the legal description;
(4) Disclose to the court any fact arising during the receivership which would disqualify the receiver under § 10-21-7; and
(5) Perform any duty imposed by court order, this chapter, or law of this state other than this chapter.
(d) The powers and duties of a receiver may be expanded, modified, or limited by court order.
History of Section.P.L. 2022, ch. 107, § 1, effective June 20, 2022; P.L. 2022, ch. 108, § 1, effective June 20, 2022.
Structure Rhode Island General Laws
Title 10 - Courts and Civil Procedure – Procedure in Particular Actions
Chapter 10-21 - Rhode Island Commercial Receivership Act
Section 10-21-1. - Short title.
Section 10-21-2. - Definitions.
Section 10-21-3. - Notice and opportunity for hearing.
Section 10-21-3.1. - Administrative and procedural orders in temporary non-liquidating receivership.
Section 10-21-4. - Scope — Exclusions.
Section 10-21-5. - Power of court.
Section 10-21-6. - Appointment of receiver.
Section 10-21-6.1. - Appointment of temporary non-liquidating receiver.
Section 10-21-7. - Disqualification from appointment as receiver — Disclosure of interest.
Section 10-21-8. - Receiver’s bond — Alternative security.
Section 10-21-9. - Status of receiver as lien creditor.
Section 10-21-10. - Security interest covering after-acquired property.
Section 10-21-11. - Collection and turnover of receivership property.
Section 10-21-12. - Powers and duties of receiver.
Section 10-21-12.1. - Powers and duties of temporary non-liquidating receiver — Operating plan.
Section 10-21-13. - Duties of owner.
Section 10-21-13.1. - Owner’s duties in temporary non-liquidating receivership.
Section 10-21-14. - Stay — Injunction.
Section 10-21-14.1. - Stay in a temporary non-liquidating receivership.
Section 10-21-15. - Engagement and compensation of professional.
Section 10-21-16. - Use or transfer of receivership property not in the ordinary course of business.
Section 10-21-17. - Executory contract.
Section 10-21-18. - Defenses and immunities of receiver.
Section 10-21-19. - Interim report of receiver.
Section 10-21-19.1. - Interim report of temporary non-liquidating receiver.
Section 10-21-20. - Notice of appointment — Claim against receivership — Distribution to creditors.
Section 10-21-21. - Fees and expenses.
Section 10-21-21.1. - Emergency declaration receivership program coordinator.
Section 10-21-22. - Removal of receiver — Replacement — Termination of receivership.
Section 10-21-23. - Final report of receiver — Discharge.
Section 10-21-24. - Receivership in another state — Ancillary proceeding.
Section 10-21-25. - Effect of enforcement by secured party.
Section 10-21-26. - Uniformity of application and construction.
Section 10-21-27. - Relation to Electronic Signatures in Global and National Commerce Act.