§ 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) The scope and nature of the proposed engagement;
(3) Any potential conflict of interest; and
(4) The proposed compensation.
(b) A person is not disqualified from engagement under this section solely because of the person’s engagement by, representation of, or other relationship with the receiver, a creditor, or a party. This chapter does not prevent the receiver from serving in the receivership as an attorney, accountant, auctioneer, or broker when authorized by law.
(c) A receiver or professional engaged under subsection (a) of this section shall file with the court an itemized statement of the time spent, work performed, and billing rate of each person that performed the work and an itemized list of expenses. The receiver shall pay the amount approved by the court.
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.