Rhode Island § 19-10-2 - Voluntary Liquidation
Full text of Rhode Island Rhode Island General Laws § 19-10-2 — Voluntary Liquidation, with citation guidance and answers to common questions.
§ 19-10-2. Voluntary Liquidation
R.I. Gen. Laws § 19-10-2
§ 19-10-2. Notice of liquidation.
Whenever a vote is taken to go into liquidation, it shall be the duty of the board of directors or trustees to cause notice of this fact to be certified, under the seal of the financial institution or credit union, by its president, cashier, or treasurer, to the director, or the director’s designee. If the director, or the director’s designee, approves of the act of the financial institution or credit union, he or she shall certify the decision upon the certificate setting forth the vote of the financial institution or credit union. The financial institution or credit union shall then publish a notice setting forth the vote and notifying creditors to present their claims against the financial institution or credit union for payment, which notice shall be published once each week for eight (8) successive weeks in a newspaper of general circulation in which the financial institution or credit union is located.
History of Section.
P.L. 1995, ch. 82, § 48.
Frequently Asked Questions About Rhode Island § 19-10-2
What does Rhode Island General Laws § 19-10-2 cover?
Section 19-10-2 ("Voluntary Liquidation") is part of the Rhode Island General Laws, the codified statutory law of Rhode Island. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Rhode Island § 19-10-2?
A common citation format is "Rhode Island General Laws § 19-10-2" (Rhode Island). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Rhode Island law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Rhode Island official source linked on this page or consult a licensed Rhode Island attorney.
How does Rhode Island § 19-10-2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Rhode Island can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Rhode Island.