reglab/statecodes huggingface dataset:
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-9 - Community Obligations and Banking Offenses › Section 19-9-24. - Fraudulent checks — Small amounts.

§ 19-9-24. Fraudulent checks — Small amounts.
(a)
Any person who purchases any goods, materials, or services, makes payment for that purchase by check, draft, or order for payment of money, and takes possession of the goods or materials, or has the benefit of the service, and who subsequently orders payment stopped on the check, draft, or order for payment, or who, with intent to defraud, makes, draws, utters, or delivers any check, draft, or order for the payment of money, in an amount not exceeding one thousand five hundred dollars ($1,500), upon any regulated institution or other depository, knowing at the time of making, drawing, uttering, or delivering that the maker or drawer has not sufficient funds in, or credit with, that regulated institution or other depository for the payment of that check, draft, or order, in full, upon its presentation, shall, upon conviction, be fined not more than five hundred dollars ($500), or be imprisoned not exceeding one year, or may be subjected to both fine and imprisonment.
(b)
With regard to the purchase of any goods or materials, it shall not be in violation of this section if goods or materials are returned to the vendor within three (3) business days of the filing of the stop payment order.
(c)
The word “credit” means an arrangement or understanding with the regulated institution or other depository for the payment of the check, draft, or order.
(d)
Any person violating any of these provisions may be prosecuted and proceeded against in any judicial district or in any county in which the offense was committed, or in which the check, draft, or order was uttered or delivered.
History of Section.
P.L. 1995, ch. 82, § 47; P.L. 2012, ch. 137, § 2; P.L. 2012, ch. 176, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-9 - Community Obligations and Banking Offenses › Section 19-9-25. - Fraudulent checks — Large amounts.

§ 19-9-25. Fraudulent checks — Large amounts.
(a)
Any person who purchases any goods, materials, or services, pays for that purchase by check, draft, or order for payment of money, and takes possession of the item, and who subsequently orders payment stopped on the check, draft, or order for payment, or who, with intent to defraud, makes, draws, utters, or delivers any check, draft, or order for the payment of money, in an amount exceeding one thousand five hundred dollars ($1,500), upon any regulated institution or other depository, knowing at the time of making, drawing, uttering, or delivering that the maker or drawer has not sufficient funds in, or credit with, that regulated institution or other depository for the payment of the check, draft, or order, in full, upon its presentation, shall, upon conviction, be fined not more than two thousand dollars ($2,000), or be imprisoned not more than two (2) years, or may be subjected to both fine and imprisonment.
(b)
With regard to the purchase of any goods or materials, it shall not be in violation of this section if goods or materials are returned to the vendor within three (3) business days of the filing of the stop payment order.
(c)
The word “credit” means an arrangement or understanding with the regulated institution or other depository for the payment of the check, draft, or order.
(d)
Any person violating any of these provisions may be prosecuted and proceeded against in any judicial district or in any county in which the offense was committed, or in which the check, draft, or order was uttered or delivered.
History of Section.
P.L. 1995, ch. 82, § 47; P.L. 2012, ch. 137, § 2; P.L. 2012, ch. 176, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-9 - Community Obligations and Banking Offenses › Section 19-9-26. - Prima facie evidence of intent to defraud — Prosecutions.

§ 19-9-26. Prima facie evidence of intent to defraud — Prosecutions.
The following shall be prima facie evidence of intent to defraud within the meaning of §§ 19-9-24 and 19-9-25 as against the maker or drawer: the making, drawing, uttering, or delivering of a check, draft, or order for the payment of money upon any regulated institution or other depository, payment of which is refused by the drawee for the reason that the maker or drawer has not sufficient funds in, or credit with, the regulated institution or other depository for the payment of the check, draft, or order in full upon its presentation, or for the reason that the maker or drawer has stopped payment on a check, draft, or order for the payment of money for the purchase of any goods, materials or service; provided, however, that these shall not be prima facie evidence of intent to defraud if the maker or drawer shall pay the check, draft, or order, or deposit and leave with the drawee for its payment the amount due thereon within seven (7) days after the receipt of written notice from the payee by certified mail, return receipt requested, at the last address of the maker or drawer which is available in the records of the payee.
If the check, draft, or order has not been paid within seven (7) business days after the maker or drawer receives written notice by certified mail, return receipt requested, or if there is a return of the notice undelivered and the payee presents an affidavit containing facts within the payee’s own knowledge that the maker or drawer was not residing at the last address available in the records of the payee, the payee shall forthwith notify the prosecuting officer of the city or town where the check, draft, or order was written of that fact and the prosecuting officer shall prosecute all violations of §§ 19-9-24, 19-9-25, and 19-9-26 within ten (10) business days of the notice.
History of Section.
P.L. 1995, ch. 82, § 47.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-9 - Community Obligations and Banking Offenses › Section 19-9-27. - Check kiting.

§ 19-9-27. Check kiting.
(a)
Notwithstanding the provisions of § 19-9-24 or § 19-9-25, any person, natural or otherwise, who shall utilize any scheme, device, or artifice, commonly known as a check kite or check kiting, for the purposes of defrauding any regulated institution or other depository, any vendor of goods, materials, or services, or for the purpose of deception of any investor, potential investor, or purchaser as to the financial condition or status of that person, in an amount not exceeding one thousand dollars ($1,000), shall be fined not exceeding five hundred dollars ($500), or imprisoned not exceeding one year, or both.
(b)
Notwithstanding the provisions of § 19-9-24 or § 19-9-25, any person, natural or otherwise, who shall utilize any scheme, device, or artifice, commonly known as a check kite or check kiting, for the purposes of defrauding any regulated institution or other depository or any vendor of goods, materials, or services, or for the purposes of deception of any investor, potential investor, or purchaser as to the financial condition or status of that person, in an amount exceeding one thousand dollars ($1,000), shall be fined not exceeding ten thousand dollars ($10,000), or imprisoned not exceeding ten (10) years, or both.
(c)
For the purposes of this section, a “check kite” or “check kiting” means the practice of taking advantage of the time that elapses between the deposit or negotiation of a check, draft, or other negotiable instrument in one regulated institution or other depository and its collection or presentment in another regulated institution or other depository with the intent to defraud.
History of Section.
P.L. 1995, ch. 82, § 47.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-9 - Community Obligations and Banking Offenses › Section 19-9-28. - False statement to obtain loan.

§ 19-9-28. False statement to obtain loan.
Any person who knowingly makes a false statement to any regulated institution, licensee or other depository respecting the financial condition of any person, firm, or corporation for the purpose of obtaining a loan from that regulated institution, licensee, or other depository, whether for that person’s own use or for the use of any other person, firm, or corporation, shall be punished by imprisonment for not less than six (6) months nor more than five (5) years.
History of Section.
P.L. 1995, ch. 82, § 47.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-9 - Community Obligations and Banking Offenses › Section 19-9-29. - Bank fraud.

§ 19-9-29. Bank fraud.
Any person who knowingly makes a false statement to any regulated institution or other depository, or who knowingly executes, or attempts to execute, a scheme or artifice to defraud, or willingly overvalues any land, property, or security, for the purpose of influencing in any way the action of that regulated institution or other depository, whether for that person’s own use or for the use of any other person, firm, or corporation, in violation of this section, upon conviction thereof, shall be fined not exceeding two hundred fifty thousand dollars ($250,000), or be imprisoned not exceeding fifteen (15) years, or both. For the purposes of this section, the term “scheme or artifice to defraud” includes a scheme or artifice to deprive another of the intangible right of honest services.
History of Section.
P.L. 1995, ch. 82, § 47.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-9 - Community Obligations and Banking Offenses › Section 19-9-30. - Injunctions against fraud.

§ 19-9-30. Injunctions against fraud.
(a)
The attorney general is hereby empowered to bring an action in the name of the state in any court of competent jurisdiction for restraining orders and injunctive relief to restrain and enjoin violations or threatened violation of the provisions of §§ 19-9-23 and 19-9-29.
(b)
If any person, firm, corporation, or other legal entity is alienating or disposing of property, or intends to alienate or dispose of property obtained as a result of a violation of §§ 19-9-23 and/or 19-9-29, or property that is traceable to this violation, the attorney general may commence a civil action in any court of competent jurisdiction:
(1)
To enjoin the alienation or disposition of property; or
(2)
For a restraining order to:
(i)
Prohibit any person from withdrawing, transferring, removing, dissipating, or disposing of any of the property or property of equivalent value; and
(ii)
Appoint a temporary receiver to administer the restraining order.
(c)
A permanent or temporary injunction or restraining order shall be granted without bond. The court shall proceed as soon as practicable to the hearing and determination of an action and may, at any time before final determination, enter a restraining order or prohibition or take other action as is warranted to prevent a continuing and substantial injury to the state or to any person or class of persons for whose protection the action is brought.
History of Section.
P.L. 1995, ch. 82, § 47.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-9 - Community Obligations and Banking Offenses › Section 19-9-31. - False rumors as to condition of regulated institution.

§ 19-9-31. False rumors as to condition of regulated institution.
Every person who willfully or maliciously instigates, makes, circulates, or transmits to another or others any statement, untrue in fact, derogatory to the financial condition or affecting the solvency or financial standing of any regulated institution or other insured-deposit-taking institution duly organized under the laws of the United States doing business in this state, or who counsels, aids, procures, or induces another to start, transmit, or circulate any statement or rumor, shall, upon conviction, be punished by imprisonment for a term not exceeding one year, or by a fine not exceeding five hundred dollars ($500), or by both fine and imprisonment.
History of Section.
P.L. 1995, ch. 82, § 47.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-9 - Community Obligations and Banking Offenses › Section 19-9-32. - Disclosure of arson conviction.

§ 19-9-32. Disclosure of arson conviction.
(a)
Every financial institution making loans within this state secured by an interest in real estate may require applicants for loans to disclose whether or not the applicant or applicants have been convicted of any degree of the crime of arson as described in chapter 4 of title 11 within ten (10) years prior to the date of application.
(b)
A financial institution may use the existence of an arson conviction within ten (10) years of the application date as a reason to deny the application.
(c)
Failure to disclose the existence of an arson conviction when requested upon a mortgage application shall be a misdemeanor punishable by a sentence of not more than one year imprisonment.
(d)
The mortgage application form shall indicate the existence of a criminal penalty for failure to disclose a conviction for arson.
(e)
For the purpose of this section, the term “applicant” means a natural person, trust, partnership, association, corporation, or other form of business organization; provided, however, that if the applicant is a trust, the beneficiaries of the trust shall be included, and if the applicant is a partnership, association, corporation, or other form of business organization, each member, director, shareholder owning more than twenty percent (20%) of the common stock issued by the corporation, and principal officer of the organization shall be included.
History of Section.
P.L. 1995, ch. 63, § 1; P.L. 1998, ch. 244, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-9 - Community Obligations and Banking Offenses › Section 19-9-33. - Severability.

§ 19-9-33. 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, § 47.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-9 - Community Obligations and Banking Offenses › Section 19-9-34. - Property insurance.

§ 19-9-34. Property insurance.
Every lending institution shall be subject to the provisions of § 27-5-3.2.
History of Section.
P.L. 2002, ch. 112, § 2.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-9 - Community Obligations and Banking Offenses › Section 19-9-35. - Consumer privacy in mortgage applications.

§ 19-9-35. Consumer privacy in mortgage applications.
(a)
For purposes of this section, “mortgage trigger lead” means a consumer report obtained pursuant to section 604(c)(1)(B) of the Fair Credit Reporting Act, 15 U.S.C. § 1681b, where the issuance of the report is triggered by an inquiry made with a consumer reporting agency in response to an application for credit. “Mortgage trigger lead” does not include a consumer report obtained by a lender or servicer that holds or services existing indebtedness of the applicant who is the subject of the report.
(b)
With regard to a solicitation of a consumer for a residential mortgage loan, as defined in § 19-14.10-3, which solicitation is based, in whole or in part, on information contained in a mortgage trigger lead, the following shall be deemed to be a prohibited act or practice for purposes of §§ 19-4-12, 19-14-26 and 19-14.10-17:
(1)
The failure to clearly and conspicuously state in the initial phase of the solicitation that the solicitor is not affiliated with the lender or broker with which the consumer initially applied;
(2)
The failure to clearly and conspicuously state in the initial phase of the solicitation that the solicitation is based on personal information about the consumer that was purchased, directly or indirectly, from a consumer reporting agency without the knowledge or permission of the lender or broker with which the consumer initially applied;
(3)
The failure, in the initial solicitation, to comply with the provisions of the federal Fair Credit Reporting Act relating to prescreening solicitations that use consumer reports, including the requirement to make a firm offer of credit to the consumer; or
(4)
Knowingly or negligently using information from a mortgage trigger lead:
(i)
To solicit consumers who have opted out of prescreened offers of credit under the federal Fair Credit Reporting Act; or
(ii)
To place telephone calls to consumers who have placed their contact information on a federal or state “do-not-call” list.
(c)
In addition to any other remedy provided by law, any lender or broker aggrieved by a prohibited act or practice under this section may bring an action in the superior court in which venue the lender or broker has an office to enjoin an act in violation of this section and recover damages. The court shall award damages in the amount of actual damages or one thousand dollars ($1,000) per violation, whichever is greater. In any successful action for injunctive relief or for damages, the court shall award the lender or broker attorneys’ fees and costs, including court costs.
(d)
The director, or the director’s designee, may adopt reasonable rules and regulations for the implementation of the provisions of this section.
History of Section.
P.L. 2015, ch. 200, § 1; P.L. 2015, ch. 202, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-10 - Voluntary Liquidation › Section 19-10-1. - Power to liquidate — Appointment of agent.

§ 19-10-1. Power to liquidate — Appointment of agent.
Any financial institution or credit union that is solvent may, subject to the approval of the director, or the director’s designee, liquidate and be closed by a vote of its stockholders owning two thirds (⅔) of its capital stock or, in the case of a mutually owned savings bank, two thirds (⅔) of its depositors or, in the case of credit unions, two thirds (⅔) of its members. For the purpose of closing the affairs of any financial institution or credit union, the directors shall submit a plan of liquidation to the director, or the director’s designee, for approval.
History of Section.
P.L. 1995, ch. 82, § 48.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-10 - Voluntary Liquidation › Section 19-10-2. - Notice of liquidation.

§ 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.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-10 - Voluntary Liquidation › Section 19-10-3. - Application of receivership provisions — Powers of court.

§ 19-10-3. Application of receivership provisions — Powers of court.
During the period of the liquidation, the financial institution or credit union shall be subject to the same provisions provided in this title for the regulation of financial institutions or credit unions in the hands of receivers. Nothing in this chapter shall be construed to abridge the jurisdiction of the superior court sitting in equity over the financial institution or credit union.
History of Section.
P.L. 1995, ch. 82, § 48.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-10 - Voluntary Liquidation › Section 19-10-4. - Delivery of unclaimed funds and property to general treasurer.

§ 19-10-4. Delivery of unclaimed funds and property to general treasurer.
Whenever the final dividend in liquidation shall be declared by any receiver or officer or agent of any financial institution or credit union, now or hereafter in the hands of a receiver or officer or agent for the purposes of liquidation, and two (2) years shall elapse from the time of the commencement of payment of that dividend, or whenever no dividend has been declared by the receiver of any insolvent financial institution or credit union within three (3) years of the commencement of receivership, it shall be lawful for any receiver or officer or agent, at any time thereafter, upon the allowance of his or her account by the superior court, or in the case of voluntary liquidation upon the allowance by the financial institution or credit union, and upon the order of the court or the financial institution or credit union, to pay over all the funds of the financial institution or credit union remaining in his or her hands, whether arising from unclaimed dividends or otherwise, to the general treasurer of this state to be deposited in the general treasury and to deliver all the remaining property of the financial institution or credit union to the general treasurer, upon his or her receipt for it and upon payment and delivery, the powers, obligations, duties, and liabilities of the receiver or officer or agent shall terminate.
History of Section.
P.L. 1995, ch. 82, § 48.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-10 - Voluntary Liquidation › Section 19-10-5. - Advertisement and payment of unclaimed funds.

§ 19-10-5. Advertisement and payment of unclaimed funds.
It shall be the duty of the receiver or officer or agent at the time of payment to deliver to the general treasurer a list of the unclaimed deposits and dividends in the financial institution or credit union, with the names of the parties entitled to the deposits and dividends, as shown by the books of the financial institution or credit union. Any person claiming any unclaimed dividend shall be entitled to payment of any money in the general treasury not otherwise appropriated on producing evidence satisfactory to the general treasurer of the validity of his or her claim. The state controller is authorized and directed to draw his or her order or orders on the general treasurer in favor of the claimant on the presentation of the proper vouchers. It shall be the duty of the general treasurer to advertise each year, during the period of three (3) years from and after receiving the funds of the financial institution or credit union, a list of the unclaimed dividends in these financial institutions or credit unions and of the persons supposed to be entitled to the unclaimed dividends once a week, at least, for three (3) successive weeks, in one or more of the public newspapers published in the city or town in which the financial institution or credit union is located.
History of Section.
P.L. 1995, ch. 82, § 48.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-10 - Voluntary Liquidation › Section 19-10-6. - Severability.

§ 19-10-6. 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, § 48.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-10.1 - Conversion of Financial Institution to General Business Corporation › Section 19-10.1-2. - Notice of conversion.

§ 19-10.1-2. Notice of conversion.
Whenever a vote is taken pursuant to § 19-10.1-1 by a financial institution with capital stock to convert such financial institution into a corporation organized under the Rhode Island Business Corporation Act, it shall be the duty of the board of directors or trustees thereof to cause notice of this fact to be certified, under the seal of the financial institution by its president, cashier, or treasurer, to the director of the department of business regulation, or the director’s designee. If the director, or the director’s designee, approves of the act of conversion of the financial institution pursuant to § 19-10.1-1, he or she shall certify the decision and issue an approval upon the certificate setting forth the vote of the financial institution. The financial institution shall then publish a notice: (1) Setting forth the vote and the director’s approval; (2) Advising that the financial institution will no longer be subject to the jurisdiction of the Rhode Island department of business regulation sixty (60) days after commencement of the publication of such notice; and (3) Notifying depositors and all other interested parties having claims relating to the financial institution’s former status as a regulated banking entity to present those claims against the financial institution for payment. Such notice shall be published in twelve-point (12) bold-faced type once each week for four (4) successive weeks in the legal notices section of a newspaper of general circulation in which the financial institution is located.
History of Section.
P.L. 2005, ch. 206, § 1; P.L. 2005, ch. 335, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-10.1 - Conversion of Financial Institution to General Business Corporation › Section 19-10.1-3. - Delivery of unclaimed funds and property to general treasurer.

§ 19-10.1-3. Delivery of unclaimed funds and property to general treasurer.
Whenever any financial institution with capital stock coverts to and becomes a general business corporation pursuant to § 19-10.1-1 while holding upon deposit or for safekeeping any funds or other property of any description pursuant to its powers under § 19-3-1, such property shall, prior to the conversion to a general business corporation, be delivered to the general treasurer of this state as unclaimed property.
History of Section.
P.L. 2005, ch. 206, § 1; P.L. 2005, ch. 335, § 1.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-11 - Conservatorship › Section 19-11-1. - Appointment of conservator on application by stockholders or directors.

§ 19-11-1. Appointment of conservator on application by stockholders or directors.
Whenever any financial institution or credit union shall petition the director for the appointment of a conservator of its property, assets, and affairs for the benefit of its depositors and other creditors, and in order to provide an opportunity for a reorganization of its affairs, the director is authorized and empowered to appoint himself or herself or a deputy a conservator of that financial institution or credit union, the petition in each case to be made in pursuance of a vote adopted by a majority of the board of directors or under the same conditions that could allow the director to petition the court for the appointment of a receiver.
History of Section.
P.L. 1995, ch. 82, § 49.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-11 - Conservatorship › Section 19-11-2. - Removal of conservator — Vacancies.

§ 19-11-2. Removal of conservator — Vacancies.
If the director, at any time, deems it in the best interest of any financial institution or credit union or its creditors that the conservator appointed pursuant to § 19-11-1 shall be removed from office, the director may so order and may appoint a successor to that office.
History of Section.
P.L. 1995, ch. 82, § 49.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-11 - Conservatorship › Section 19-11-3. - Employment of assistance by conservator.

§ 19-11-3. Employment of assistance by conservator.
Each conservator, with the approval of the director, may engage legal counsel and procure any other expert assistance and advice that the conservator considers necessary or desirable in the administration of the affairs of the financial institution or credit union, and with the same approval, may engage the employees and retain any of those officers and employees of the financial institution or credit union that he or she deems necessary or desirable.
History of Section.
P.L. 1995, ch. 82, § 49.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-11 - Conservatorship › Section 19-11-4. - Possession and management of property — Notice to debtors and persons in possession.

§ 19-11-4. Possession and management of property — Notice to debtors and persons in possession.
(a)
Each conservator, immediately after appointment and qualification, shall take and have possession and management of the property and business of the financial institution or credit union and thereafter shall take any action in the name and behalf of the financial institution or credit union necessary or desirable to carry on its business and to conserve its assets pending reorganization or the disposition of the assets as provided by law, all under the direction and control of the director, or the director’s designee.
(b)
Immediately after taking possession of the property and business of the financial institution or credit union, the conservator shall give notice in writing of having taken possession to all persons holding or having possession of any assets of the financial institution or credit union and to all persons indebted to the financial institution or credit union. No financial institution, federally chartered institution, credit union, federal credit union, association, firm, or individual, having been notified of the appointment of the conservator or otherwise having knowledge of his or her appointment, shall have or acquire any lien or charge upon or against any of the property of the financial institution or credit union for any payment, advance, or clearance or any obligation thereafter made or incurred.
History of Section.
P.L. 1995, ch. 82, § 49.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-11 - Conservatorship › Section 19-11-5. - Creditors’ rights as in receivership.

§ 19-11-5. Creditors’ rights as in receivership.
During the time that any conservator remains in charge of the property and affairs of any financial institution or credit union in accordance with the provisions of this chapter, the rights of creditors and all other parties in respect to bringing and prosecuting suits and proceedings against the financial institution or credit union and the conservator, except as otherwise provided in this chapter, shall be the same as if the conservator was a receiver of the property and affairs of that financial institution or credit union duly appointed and qualified in and by appropriate judicial proceedings instituted for that purpose.
History of Section.
P.L. 1995, ch. 82, § 49.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-11 - Conservatorship › Section 19-11-6. - Collection of assets — Continuation of business — General powers of conservator.

§ 19-11-6. Collection of assets — Continuation of business — General powers of conservator.
(a)
Each conservator, upon the terms and conditions and in accordance with the orders, rules and regulations, general and special, prescribed from time to time by the director, or the director’s designee, shall, so far as possible, collect all moneys and other assets due and payable to the financial institution or credit union and do all acts necessary to continue its business and to conserve its assets, and may sell or compound bad or doubtful claims and demands due to the financial institution or credit union.
(b)
With the written authorization of the director, or the director’s designee, a conservator may, at any time, in the name and upon the credit of the financial institution or credit union, borrow money for any purpose and pledge and deliver to the lender the whole or any part of the property and assets of the financial institution or credit union as security for the repayment of any loan, and may sell all or any part of the real and personal property and other assets of the financial institution or credit union, and in the name of the financial institution or credit union, may take mortgages on real property from purchasers to secure the whole or part of the purchase price.
(c)
The conservator may prosecute and defend suits and other proceedings at law and in equity to which the financial institution or credit union is a party.
(d)
The conservator may execute, acknowledge, and deliver deeds, assignments, mortgages, releases, promissory notes, and other instruments that the conservator may consider necessary, proper, and desirable to effectuate any sales, pledges, or mortgages of real or personal property and any obligation to repay loans, any compromise, and any other transaction that may be performed or entered into by the conservator under the powers and authority that may be conferred upon him or her. All deeds and other instruments, so executed and delivered, shall be valid and effectual for all purposes to the same extent and with the same effect as if executed by officers of the financial institution or credit union by authority of its board of directors or stockholders.
(e)
In addition to all powers and authority and duties specifically mentioned and provided in this chapter, each conservator shall have and exercise all the powers and authority and perform the duties that the director, by either general or special orders, shall prescribe.
History of Section.
P.L. 1995, ch. 82, § 49.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-11 - Conservatorship › Section 19-11-7. - Penalties and liabilities.

§ 19-11-7. Penalties and liabilities.
The conservator and the conservator’s assistants shall be subject to the same penalties and liabilities to which they would be liable if the conservator were the receiver of a financial institution or credit union appointed in judicial proceedings in this state, including penalties and liabilities now established and which may be established by law. The conservator’s liability shall be limited to the assets of the financial institution or credit union except for fraud or malpractice by the conservator.
History of Section.
P.L. 1995, ch. 82, § 49.
2023 Rhode Island General Laws › Title 19 - Financial Institutions › Chapter 19-11 - Conservatorship › Section 19-11-8. - Withdrawal of deposits and claims.

§ 19-11-8. Withdrawal of deposits and claims.
During the period of the continuance of any conservatorship provided for, the director, or the director’s designee, may require the conservator to set aside and make available for withdrawal, and permit withdrawal by depositors and other creditors, any amounts or proportions of their respective deposits or claims as the director, or the director’s designee, may order and direct. The director, or the director’s designee, may authorize the conservator in any case to receive and permit withdrawals of new deposits, subject to any rules, regulations, limitations, and dispositions as the director, or the director’s designee, shall prescribe.
History of Section.
P.L. 1995, ch. 82, § 49.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
(a)
The director, or the director’s designee, is empowered immediately to take possession of any financial institution, credit union, or other licensee under this title 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, credit union’s, or other licensee’s financial condition is such that the sum of the financial institution’s, credit union’s, or other licensee’s debts are greater than all of the financial institution’s, credit union’s, or other licensee’s property at a fair valuation, exclusive of property transferred, concealed, or removed with intent to hinder, delay, or defraud the financial institution’s, credit union’s, or other licensee’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, credit union’s, or other licensee’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, credit union, or other licensee has failed to maintain adequate deposit insurance as required by this title; or
(4)
The financial institution, credit union, or other licensee has failed to remedy unsafe or unsound practices in violation of a cease and desist order.
(b)
The director may apply to the superior court for the appointment of the director, or one of the director’s deputies as receiver. 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, credit union, or other licensee, the receiver may request an injunction to restrain the financial institution, credit union, or other licensee under this title, 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; P.L. 2022, ch. 338, § 2, effective June 29, 2022; P.L. 2022, ch. 339, § 2, effective June 29, 2022.
2023 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.
2023 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.
2023 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.
2023 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.