§ 19-12-14. Presumptions.
With respect to any financial institution or credit union to which a receivership proceeding is commenced pursuant to the provisions of this chapter, any member of its governing body or officer who votes or takes any action solely to approve or authorize the commencement of the proceeding or to accept service of citation or other process; to admit or cause to be admitted the allegations of any complaint or petition commencing the proceeding; or to consent to or join in the request for relief contained therein, shall be conclusively presumed to have taken the action in good faith, in the exercise of a reasonable business judgment, and in the best interests of the financial institution or credit union, its depositors, or other creditors.
History of Section.P.L. 1995, ch. 82, § 50.
Structure Rhode Island General Laws
Title 19 - Financial Institutions
Section 19-12-1. - Application for receivership.
Section 19-12-2. - Appointment and powers of receiver.
Section 19-12-3. - Clerical assistance — Legal assistance.
Section 19-12-4. - Schedule of property given to receiver.
Section 19-12-5. - Injunction to restrain carrying on of business.
Section 19-12-6. - Legislative findings.
Section 19-12-7. - Priority of claims.
Section 19-12-8. - Priority of claims — Federally insured financial institutions or credit unions.
Section 19-12-9. - Payment of certain priority claims.
Section 19-12-10. - Automatic stay.
Section 19-12-11. - Additional powers of receiver.
Section 19-12-13. - Agreements against interest of the financial institution or credit union.
Section 19-12-14. - Presumptions.