§ 19-11-5. Creditors’ rights as in receivership.
During the time that any conservator remains in charge of the property and affairs of any financial institution or credit union in accordance with the provisions of this chapter, the rights of creditors and all other parties in respect to bringing and prosecuting suits and proceedings against the financial institution or credit union and the conservator, except as otherwise provided in this chapter, shall be the same as if the conservator was a receiver of the property and affairs of that financial institution or credit union duly appointed and qualified in and by appropriate judicial proceedings instituted for that purpose.
History of Section.P.L. 1995, ch. 82, § 49.
Structure Rhode Island General Laws
Title 19 - Financial Institutions
Chapter 19-11 - Conservatorship
Section 19-11-1. - Appointment of conservator on application by stockholders or directors.
Section 19-11-2. - Removal of conservator — Vacancies.
Section 19-11-3. - Employment of assistance by conservator.
Section 19-11-5. - Creditors’ rights as in receivership.
Section 19-11-6. - Collection of assets — Continuation of business — General powers of conservator.
Section 19-11-7. - Penalties and liabilities.
Section 19-11-8. - Withdrawal of deposits and claims.
Section 19-11-9. - Rules as to new deposits.
Section 19-11-10. - Payment of expense of conservatorship.
Section 19-11-11. - Termination of conservatorship.