Rhode Island General Laws
Chapter 27-14.3 - Insurers’ Rehabilitation and Liquidation Act
Section 27-14.3-11. - Commencement of formal delinquency proceeding.

§ 27-14.3-11. Commencement of formal delinquency proceeding.
(a) Any formal delinquency proceeding against a person shall be commenced by filing a petition in the name of the commissioner.
(b) The petition shall state the grounds upon which the proceeding is based and the relief requested, and may include a prayer for restraining orders and injunctive relief as described in § 27-14.3-5.
(c) Any petition that prays for a temporary restraining order must be verified by the commissioner or his or her designee, but need not plead or prove irreparable harm or inadequate remedy by law. The commissioner shall provide only that notice as the court may require.
(d) If any temporary restraining order is prayed for:
(1) The court may issue an initial order containing the relief requested;
(2) The order shall state the time and date of its issuance;
(3) The court shall set a time and date for the return of summons, not more than ten (10) days from the time and date of the issuance of the initial order, at which time the person proceeded against may appear before the court for a summary hearing;
(4) The order shall not continue in effect beyond the time and date set for the return of summons, unless the court shall expressly enter one or more orders extending the restraining order; and
(5) The verified petition and the initial order shall be filed with the clerk of the court and maintained as confidential, except for good cause shown, until personal service is made.
(e) If no temporary restraining order is requested, the court shall cause summons to be issued. The summons shall specify a return date not more than thirty (30) days after issuance and that an answer must be filed at or before the return date.
History of Section.P.L. 1993, ch. 248, § 1.

Structure Rhode Island General Laws

Rhode Island General Laws

Title 27 - Insurance

Chapter 27-14.3 - Insurers’ Rehabilitation and Liquidation Act

Section 27-14.3-1. - Short title — Construction — Purpose.

Section 27-14.3-2. - Applicability.

Section 27-14.3-3. - Definitions.

Section 27-14.3-4. - Jurisdiction and venue.

Section 27-14.3-5. - Injunctions and orders.

Section 27-14.3-6. - Cooperation of officers, owners, and employees.

Section 27-14.3-7. - Repealed.

Section 27-14.3-8. - Condition on release from delinquency proceedings.

Section 27-14.3-9. - Immunity and indemnification of the receiver and employees.

Section 27-14.3-10. - Court’s seizure order.

Section 27-14.3-11. - Commencement of formal delinquency proceeding.

Section 27-14.3-12. - Return of summons and summary hearing.

Section 27-14.3-13. - Proceedings for expedited trial — Continuances, discovery, and evidence.

Section 27-14.3-14. - Decision and appeals.

Section 27-14.3-15. - Confidentiality of hearings.

Section 27-14.3-16. - Grounds for rehabilitation.

Section 27-14.3-17. - Rehabilitation order.

Section 27-14.3-18. - Powers and duties of rehabilitator.

Section 27-14.3-19. - Actions by and against rehabilitator.

Section 27-14.3-20. - Termination of rehabilitation.

Section 27-14.3-21. - Grounds for liquidation.

Section 27-14.3-22. - Liquidation orders.

Section 27-14.3-22.1. - Grounds for rehabilitation or liquidation of a domestic company that is a covered financial company under Dodd-Frank Wall Street Reform and Consumer Protection Act.

Section 27-14.3-23. - Continuance of coverage.

Section 27-14.3-24. - Dissolution of insurer.

Section 27-14.3-25. - Powers of liquidator.

Section 27-14.3-26. - Notice to creditors and others.

Section 27-14.3-27. - Duties of agents or insurance producers.

Section 27-14.3-28. - Actions by and against liquidator.

Section 27-14.3-29. - Collection and list of assets.

Section 27-14.3-30. - Fraudulent transfers prior to petition.

Section 27-14.3-31. - Fraudulent transfer after petition.

Section 27-14.3-32. - Voidable preferences and liens.

Section 27-14.3-33. - Claims of holders of void or voidable rights.

Section 27-14.3-34. - Setoffs.

Section 27-14.3-35. - Assessments.

Section 27-14.3-36. - Reinsurer’s liability.

Section 27-14.3-37. - Recovery of premiums owed.

Section 27-14.3-38. - Domiciliary liquidator’s proposal to distribute assets.

Section 27-14.3-39. - Filing of claims.

Section 27-14.3-40. - Proof of claim.

Section 27-14.3-41. - Special claims.

Section 27-14.3-42. - Special provisions for third party claims.

Section 27-14.3-43. - Disputed claims.

Section 27-14.3-44. - Claims of surety.

Section 27-14.3-45. - Secured creditor’s claims.

Section 27-14.3-46. - Priority of distribution.

Section 27-14.3-46.1. - Insurer assessments.

Section 27-14.3-47. - Liquidator’s recommendations to the court.

Section 27-14.3-48. - Distribution of assets.

Section 27-14.3-49. - Unclaimed and withheld funds.

Section 27-14.3-50. - Termination of proceedings.

Section 27-14.3-51. - Reopening liquidation.

Section 27-14.3-52. - Disposition of records during and after termination of liquidation.

Section 27-14.3-53. - External audit of receiver’s books.

Section 27-14.3-54. - Conservation of property of foreign or alien insurers found in this state.

Section 27-14.3-55. - Liquidation of property of foreign or alien insurers found in this state.

Section 27-14.3-56. - Domiciliary liquidators in other states.

Section 27-14.3-57. - Ancillary formal proceedings.

Section 27-14.3-58. - Ancillary summary proceedings.

Section 27-14.3-59. - Claims of nonresidents against insurers domiciled in this state.

Section 27-14.3-60. - Claims of residents against insurers domiciled in reciprocal states.

Section 27-14.3-61. - Attachment, garnishment and levy of execution.

Section 27-14.3-62. - Interstate priorities.

Section 27-14.3-63. - Subordination of claims for noncooperation.

Section 27-14.3-64. - Severability.

Section 27-14.3-65. - Rules and regulations.