Rhode Island § 19-12-10 - Receivership
Full text of Rhode Island Rhode Island General Laws § 19-12-10 — Receivership, with citation guidance and answers to common questions.
§ 19-12-10. Receivership
R.I. Gen. Laws § 19-12-10
§ 19-12-10. Automatic stay.
(a) The appointment of a temporary or permanent receiver pursuant to the provisions of this chapter, or the taking of possession of the financial institution or credit union and its assets by the director, or the director’s designee, whichever shall first occur, shall operate as a stay until further order of the court, applicable to all persons and entities, of:
(1) The commencement or continuation, including the issuance or employment of process, of a judicial, administrative, or other action or proceeding against the financial institution or credit union that was, or could have been, commenced before the commencement of the receivership under this chapter, or to recover a claim against the financial institution or credit union that arose before the commencement of the receivership pursuant to this chapter;
(2) The enforcement, against the financial institution or credit union or against property of the receivership estate, or a judgment obtained before the commencement of the receivership under this chapter;
(3) Any act to obtain possession of property of, or from, the receivership estate or to exercise control over property of the estate;
(4) Any act to create, perfect, or enforce any lien against property of the receivership estate;
(5) Any act to create, perfect, or enforce against property of the financial institution or credit union any lien to the extent that the lien secures a claim that arose before the commencement of the receivership under this title;
(6) Any act to collect, assess, or recover a claim against the financial institution or credit union that arose before the commencement of the receivership under this chapter; and
(7) The setoff of any debt owing to the financial institution or credit union that arose before the commencement of the receivership under this chapter against any claim against the financial institution or credit union.
(b) Nothing in this section shall be construed to prevent the issuance, employment, or enforcement of process in conjunction with any investigation by state or federal authorities.
History of Section.
P.L. 1995, ch. 82, § 50.
Frequently Asked Questions About Rhode Island § 19-12-10
What does Rhode Island General Laws § 19-12-10 cover?
Section 19-12-10 ("Receivership") 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 § 19-12-10?
A common citation format is "Rhode Island General Laws § 19-12-10" (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 § 19-12-10 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.