§ 19-12-2. Appointment and powers of receiver.
The court may appoint, without bond, the director, or one of the director’s deputies, or both, as the receiver or receivers to take possession of the property and effects of the financial institution or credit union, subject to any directions prescribed by the court, and this appointment shall vest in the receiver or receivers all the right, title and interest of the financial institution or credit union in and to its property and effects, and shall vacate and dissolve all attachments or liens thereon, created by, or obtained in, or pursuant to, any suit or proceeding at law or in equity against the financial institution or credit union that was begun within four (4) months before the appointment of the receiver or receivers.
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.