§ 45-47-8. Priority of lien.
Any lien arising under this chapter is superior to all liens, and interest, of any other party, including any insured owner, mortgagee, or assignee except mortgagees and assignees of bona fide mortgages. A bona fide mortgage is one granted for full and adequate value and consideration.
History of Section.P.L. 1982, ch. 251, § 1.
Structure Rhode Island General Laws
Chapter 45-47 - Municipal Liens on Fire Insurance Proceeds
Section 45-47-1. - Lien on insurance proceeds.
Section 45-47-2. - Certificate required for payment of claim.
Section 45-47-3. - Placement of proceeds in escrow account.
Section 45-47-4. - Inclusion of provision in policies.
Section 45-47-5. - Certification in lieu of payment.
Section 45-47-6. - Applicability of chapter.
Section 45-47-7. - Parties to insurance contract.
Section 45-47-8. - Priority of lien.