§ 19-11-7. Penalties and liabilities.
The conservator and the conservator’s assistants shall be subject to the same penalties and liabilities to which they would be liable if the conservator were the receiver of a financial institution or credit union appointed in judicial proceedings in this state, including penalties and liabilities now established and which may be established by law. The conservator’s liability shall be limited to the assets of the financial institution or credit union except for fraud or malpractice by the conservator.
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.