reglab/housing_qa huggingface dataset:
RI Gen L § 19-11-9 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-11 - Conservatorship|Section 19-11-9 - Rules as to new deposits.

§ 19-11-9. Rules as to new deposits.Whenever the period of conservatorship provided for in this chapter has been terminated and the financial institution or credit union is permitted to resume business in accordance with this chapter, or whenever a receiver of the property of the financial institution or credit union has been appointed in accordance with law, the new deposits that may have been received shall be disposed of or held for the persons entitled to them in any manner that the director, or the director's designee, shall prescribe, unless and except as the persons entitled to those deposits have withdrawn the deposits within fifteen (15) days after the conservator has given written notice to them of the opportunity to withdraw those deposits. The conservator shall give this written notice and opportunity at any time and in any manner that the director, or the director's designee, shall prescribe.History of Section.P.L. 1995, ch. 82, § 49.
RI Gen L § 19-11-10 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-11 - Conservatorship|Section 19-11-10 - Payment of expense of conservatorship.

§ 19-11-10. Payment of expense of conservatorship.The compensation of the conservator and of legal counsel, assistants, and other employees of the conservator and all other expenses incident to each conservatorship, including costs and expenses incurred by the director, or the director's designee, in relation to the conservatorship, shall be fixed by the director, or the director's designee, and paid from and out of the assets of the financial institution or credit union.History of Section.P.L. 1995, ch. 82, § 49.
RI Gen L § 19-11-11 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-11 - Conservatorship|Section 19-11-11 - Termination of conservatorship.

§ 19-11-11. Termination of conservatorship.If the director, or the director's designee, shall at any time be satisfied that the further continuance of any conservatorship is no longer necessary or desirable, the director, or the director's designee, may terminate the conservatorship and direct the conservator to surrender possession of all property then in the conservator's possession to the financial institution or credit union, and permit it to resume business, all upon the terms, conditions, restrictions, and limitations as the director, or the director's designee, may prescribe.History of Section.P.L. 1995, ch. 82, § 49.
RI Gen L § 19-11-12 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-11 - Conservatorship|Section 19-11-12 - Superseding receivership.

§ 19-11-12. Superseding receivership.Nothing in this chapter, and no appointment or continuance of a conservator under this chapter, shall abridge or affect, or be so construed as to abridge or affect, the right, power, and authority of the director, or the director's designee, at any time to institute proceedings in accordance with law for the appointment of a receiver of any financial institution or credit union, or of the judicial authority to make appointment of a receiver upon request of the director, or the director's designee, and if a receiver shall be appointed in this proceeding, the conservator, whenever the receiver shall have been appointed and qualified, shall immediately transfer and deliver to the receiver all property, books, and documents of all kinds then belonging to the financial institution or credit union.History of Section.P.L. 1995, ch. 82, § 49.
RI Gen L § 19-11-13 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-11 - Conservatorship|Section 19-11-13 - Severability.

§ 19-11-13. Severability.If any provision of this chapter or the application of this chapter to any person or circumstances is held invalid or unconstitutional, the invalidity or unconstitutionality shall not affect other provisions or applications of this chapter that can be given effect without the invalid or unconstitutional provision or application, and to this end the provisions of this chapter are declared to be severable.History of Section.P.L. 1995, ch. 82, § 49.
RI Gen L § 19-12-1 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-12 - Receivership|Section 19-12-1 - Application for receivership.

§ 19-12-1. Application for receivership.The director, or the director's designee, is empowered immediately to take possession of any financial institution or credit union and its assets if, upon examination, any financial institution or credit union, which has or has not invoked the conservatorship provisions or the voluntary liquidation provisions of this title, appears to be insolvent by reason of:(1) The financial institution's or credit union's financial condition is such that the sum of the financial institution's or credit union's debts are greater than all of the financial institution's or credit union's property at a fair valuation, exclusive of property transferred, concealed, or removed with intent to hinder, delay, or defraud the financial institution's or credit union's creditors or because it is generally not paying or is unable to pay its debts as they become due; or(2) The financial institution's or credit union's condition is such as to render the continuance of its business hazardous to the public or to those having funds in its custody; or(3) The financial institution or credit union has failed to maintain adequate deposit insurance as required by this title; or(4) The financial institution or credit union has failed to remedy unsafe or unsound practices in violation of a cease and desist order.The director may apply to the superior court for the appointment of the director, or one of the director's deputies, or both, or in the case when a financial institution's or credit union's deposits are insured by the Federal Deposit Insurance Corporation, the National Credit Union Administration or any other agency or instrumentality of the United States that insures the deposits of the financial institution or credit union, as a receiver or receivers of the financial institution or credit union, and for an injunction to restrain the financial institution or credit union, in whole or in part, from further proceeding with its business, and the court shall have jurisdiction in equity of the application.History of Section.P.L. 1995, ch. 82, § 50; P.L. 1998, ch. 441, § 13.
RI Gen L § 19-12-2 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-12 - Receivership|Section 19-12-2 - Appointment and powers of receiver.

§ 19-12-2. Appointment and powers of receiver.The court may appoint, without bond, the director, or one of the director's deputies, or both, as the receiver or receivers to take possession of the property and effects of the financial institution or credit union, subject to any directions prescribed by the court, and this appointment shall vest in the receiver or receivers all the right, title and interest of the financial institution or credit union in and to its property and effects, and shall vacate and dissolve all attachments or liens thereon, created by, or obtained in, or pursuant to, any suit or proceeding at law or in equity against the financial institution or credit union that was begun within four (4) months before the appointment of the receiver or receivers.History of Section.P.L. 1995, ch. 82, § 50.
RI Gen L § 19-12-3 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-12 - Receivership|Section 19-12-3 - Clerical assistance - Legal assistance.

§ 19-12-3. Clerical assistance — Legal assistance.The receiver, or receivers, are authorized to employ any clerical assistance as may be necessary, at the expense of the financial institution or credit union under receivership; but the duties of receivership shall be discharged by the receiver, or receivers, as part of their official duties. The receiver may appoint one or more special deputies to act for him or her, and may appoint clerks, assistants, agents, accountants, and legal counsel as he or she deems necessary. The receiver may grant powers of attorney to execute, acknowledge, and deliver all documents that may be necessary for the transfer of assets or assumption of liabilities. The compensation of the persons appointed by the receiver and the expenses of taking possession of the financial institution or credit union and conducting the receivership proceeding, shall be fixed by the receiver, and shall be paid out of the funds or assets of the financial institution or credit union.History of Section.P.L. 1995, ch. 82, § 50.
RI Gen L § 19-12-4 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-12 - Receivership|Section 19-12-4 - Schedule of property given to receiver.

§ 19-12-4. Schedule of property given to receiver.When a receiver or receivers are appointed, the president or treasurer of the financial institution or credit union shall make a schedule of its property, and shall make oath that the schedule sets forth all of the property that the financial institution or credit union owns or is entitled to. The treasurer shall deliver the schedule to the receiver or receivers, who may at any time examine, under oath, the treasurer, board of directors, or trustees, or other officers, to determine whether all of the property that the financial institution or credit union owns or is entitled to has come into the hands of the receiver or receivers.History of Section.P.L. 1995, ch. 82, § 50.
RI Gen L § 19-12-5 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-12 - Receivership|Section 19-12-5 - Injunction to restrain carrying on of business.

§ 19-12-5. Injunction to restrain carrying on of business.If any financial institution or credit union appears to have exceeded its powers or failed to comply with any provisions of law, the director may apply to the superior court for the county in which that financial institution or credit union is conducting its business for an injunction to restrain the financial institution or credit union, in whole or in part, from further proceeding with its business, and the court shall have jurisdiction in equity of the application.History of Section.P.L. 1995, ch. 82, § 50.
RI Gen L § 19-12-8 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-12 - Receivership|Section 19-12-8 - Priority of claims - Federally insured financial institutions or credit unions.

§ 19-12-8. Priority of claims — Federally insured financial institutions or credit unions.In a receivership, or a conservatorship under chapter 11 of this title, of a financial institution or credit union whose deposits are insured by the Federal Deposit Insurance Corporation, the National Credit Union Administration or any other agency or instrumentality of the United States, the allowed expenses and claims against the financial institution or credit union shall have priority in receiving distributions out of the assets of the financial institution or credit union in the following order:(1) The payment of costs and expenses of the administration of the receivership estate.(2) The payment of claims for "deposits", as that term is defined in 12 U.S.C. § 1813(l), including, but not limited to, the claims of depositors in a mutual savings bank for return of their deposits.(3) Unsecured claims of any local, state, or federal taxing authority entitled by law to priority in distribution from the receivership or conservatorship estate, to the extent of such priority.(4) Claims of salaried employees of the financial institution or credit union for wages or salaries earned but unpaid as of the commencement of the receivership or conservatorship.(5) Claims for all other general liabilities not specified herein.(6) Claims otherwise proper that were not filed within the prescribed time.(7) Claims for obligations expressly subordinated to deposits and general liability claims.Any funds remaining shall be paid to the stockholders of the financial institution or credit union, or, in the case of a mutual financial institution in which there are no stockholders, to the depositors in proportion to the respective amounts of their stock or deposits.Interest shall be given the same priority as the claim on which it is based, but no interest shall be paid on any claim until the principal of all claims within the same class has been paid or adequately provided for in full.History of Section.P.L. 1995, ch. 82, § 50.
RI Gen L § 19-12-10 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-12 - Receivership|Section 19-12-10 - Automatic stay.

§ 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.
RI Gen L § 19-12-11 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-12 - Receivership|Section 19-12-11 - Additional powers of receiver.

§ 19-12-11. Additional powers of receiver.(a) In addition to powers granted to the receiver pursuant to this chapter or any other law, a receiver appointed under this chapter shall have the power to reject any executory contract or unexpired lease of the financial institution or credit union.(b) After notice and hearing, the receiver may abandon any property of the receivership estate that is burdensome to the estate or that is of inconsequential value and benefit to the estate.(c) On request of a party in interest, and after notice and a hearing, the court may order the receiver to abandon any property of the receivership estate that is burdensome to the estate or that is of inconsequential value and benefit to the estate.(d) Unless the court orders otherwise, any property scheduled pursuant to § 19-12-4 not otherwise administered at the time of the closing of the receivership proceeding is abandoned to the financial institution or credit union, subject to the receivership proceeding being reopened by the court to administer assets, to accord relief to the financial institution or credit union or for other cause.(e) Unless the court orders otherwise, property of the receivership estate that is not abandoned under this section and that is not administered in the receivership proceeding remains property of the receivership estate.History of Section.P.L. 1995, ch. 82, § 50.
RI Gen L § 19-12-12 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-12 - Receivership|Section 19-12-12 - Receiver as a lien creditor and as successor to certain creditors and purchasers.

§ 19-12-12. Receiver as a lien creditor and as successor to certain creditors and purchasers.(a) A receiver appointed pursuant to this chapter shall have, as of the commencement of the receivership proceeding, and without regard to any knowledge of the receiver or of any creditor, the rights and powers of, or may avoid any transfer of property of the financial institution or credit union or any obligation incurred by the financial institution or credit union that is voidable by:(1) A creditor who extends credit to the financial institution or credit union at the time of the commencement of the receivership proceeding, and who obtains, at that time and with respect to that credit, a judicial lien on all property on which a creditor on a simple contract could have obtained a judicial lien, whether or not a creditor exists;(2) A creditor who extends credit to the financial institution or credit union at the time of the commencement of the receivership proceeding, and obtains, at that time and with respect to that credit, an execution against the financial institution or credit union that is returned unsatisfied at that time, whether or not a creditor exists; or(3) A bona fide purchaser of real property, other than fixtures, from the financial institution or credit union, against whom applicable law permits the transfer to be perfected, and obtains the status of a bona fide purchaser and has perfected the transfer at the time of the commencement of the receivership proceeding, whether or not a purchaser exists.(b) The receiver may avoid any transfer of an interest of the financial institution or credit union in property or any obligation incurred by the financial institution or credit union that is voidable under any applicable law by a creditor holding an unsecured claim against the financial institution or credit union.(c) Without limiting the provisions of subsection (a), the receiver shall be deemed a lien creditor as that term is defined in § 6A-9-301-(3) and a creditor as that term is defined in § 6-16-1 and shall have all the rights and powers accorded to the lien creditor or creditor by any provisions of applicable law.(d) In the event that the receiver shall make any sale or other transfer of all or any part of the assets of the financial institution or credit union to any transferee, the status and the rights and powers accorded the receiver by virtue of the provisions of subsections (a) through (c) of this section shall automatically vest in the transferee with respect to the assets.History of Section.P.L. 1995, ch. 82, § 50.
RI Gen L § 19-12-13 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-12 - Receivership|Section 19-12-13 - Agreements against interest of the financial institution or credit union.

§ 19-12-13. Agreements against interest of the financial institution or credit union.No agreement that tends to diminish or defeat the interest of the financial institution or credit union and any asset acquired by the receiver acting in a proceeding under this chapter or by any person or entity acquiring all or any of the interests or assets by a sale or other transfer approved by any order of the court entered in a receivership proceeding under this chapter, including (without limitation) loans made by the financial institution or credit union or any security therefor, shall be valid against the receiver or transferee unless the agreement (1) is in writing; (2) was executed by the financial institution or credit union and any person claiming an adverse interest thereunder, including the obligor, contemporaneously with the acquisition of the assets by the financial institution or credit union; (3) was approved by the governing body of the financial institution or credit union or its loan or other authorizing committee, which approval shall be reflected in the minutes of the board or committee; and (4) has been, continuously, from the time of its execution, an official record of the financial institution or credit union.History of Section.P.L. 1995, ch. 82, § 50.
RI Gen L § 19-12-14 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-12 - Receivership|Section 19-12-14 - Presumptions.

§ 19-12-14. Presumptions.With respect to any financial institution or credit union to which a receivership proceeding is commenced pursuant to the provisions of this chapter, any member of its governing body or officer who votes or takes any action solely to approve or authorize the commencement of the proceeding or to accept service of citation or other process; to admit or cause to be admitted the allegations of any complaint or petition commencing the proceeding; or to consent to or join in the request for relief contained therein, shall be conclusively presumed to have taken the action in good faith, in the exercise of a reasonable business judgment, and in the best interests of the financial institution or credit union, its depositors, or other creditors.History of Section.P.L. 1995, ch. 82, § 50.
RI Gen L § 19-12-15 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-12 - Receivership|Section 19-12-15 - Notice to parties.

§ 19-12-15. Notice to parties.The court having jurisdiction over any proceedings under this chapter shall have full power to shorten the time for scheduling hearings and giving notice thereof and to limit notice of creditors, depositors, and other parties in interest to newspaper publication or other means as it shall deem appropriate, given the exigencies of the proceeding, the number of parties to be given notice, and the expenses of providing that form of notice.History of Section.P.L. 1995, ch. 82, § 50.
RI Gen L § 19-12-16 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-12 - Receivership|Section 19-12-16 - Appeals.

§ 19-12-16. Appeals.Any order or judgment of the court having jurisdiction of any receivership proceeding under this chapter that provides for a payment to employees and depositors that have priority under § 19-12-7(a)(2), (a)(3) and/or (a)(4) or a transfer of assets of the financial institution or credit union for a consideration that includes the payment or assumption of some or all of the liabilities of the financial institution or credit union to the employees or depositors shall be final and binding and not subject to reversal on appeal unless, prior to the consummation of the transfer, the court that entered the judgment shall, on motion of an aggrieved party in interest, grant a stay pending appeal conditioned upon the appellant filing a supersedeas bond in the full amount of the loss the employees and depositors may sustain in the event the order or judgment is upheld on appeal or the supreme court shall, after the motion has been denied by the superior court and prior to the consummation of the payment or transfer, grant a stay pending appeal conditioned upon the appellant filing a similarly conditioned supersedeas bond.History of Section.P.L. 1995, ch. 82, § 50.