§ 19-4-13. Continuance of business after suspension prohibited.
After suspension of the right of a regulated institution to do business, the regulated institution affected shall cease to have any right to continue its business, except for the purpose of winding up the affairs of the regulated institution. Any officers, directors, or agents of the regulated institution thereafter selling shares of the regulated institution, or soliciting business for the regulated institution, shall be guilty of a misdemeanor, and upon conviction thereof shall be fined not more than one thousand dollars ($1,000) for each offense.
History of Section.P.L. 1995, ch. 82, § 42.
Structure Rhode Island General Laws
Title 19 - Financial Institutions
Chapter 19-4 - Regulatory Oversight
Section 19-4-1. - Examination on application by depositors, stockholders, directors, or trustees.
Section 19-4-2. - Periodic examinations — Access to records.
Section 19-4-3. - Records of examinations and reports.
Section 19-4-6. - Time and frequency of reports of financial institutions and credit unions.
Section 19-4-8. - Delay of reports.
Section 19-4-9. - Reports to general assembly.
Section 19-4-10. - Insurance of deposits.
Section 19-4-12. - Order to cease unlawful or unsafe practices — Impairment of capital — Appeal.
Section 19-4-13. - Continuance of business after suspension prohibited.
Section 19-4-14. - Appeal of orders — Enforcement.
Section 19-4-15. - Examination of books to determine violations — Prosecution of offenses.
Section 19-4-16. - Rules and regulations.
Section 19-4-17. - Unauthorized banking business.
Section 19-4-17.1. - Use of regulated financial institutions without permission prohibited.