Rhode Island General Laws 10-21-16.1. Use or transfer of receivership property in a temporary non-liquidating receivership
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The owner may use or transfer receivership property, by sale, lease, license, exchange or other disposition, only:
(1) With court approval; and
(2) After the court approves the operating plan, in accordance with the plan.
History of Section.
P.L. 2022, ch. 107, § 1, effective June 20, 2022; P.L. 2022, ch. 108, § 1, effective June 20, 2022.
Terms Used In Rhode Island General Laws 10-21-16.1
- Court: means the superior court. See Rhode Island General Laws 10-21-2
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Owner: means the person for whose property a receiver is appointed. See Rhode Island General Laws 10-21-2
- Property: means all of a person's right, title, and interest, both legal and equitable, in real and personal property, tangible and intangible, wherever located and however acquired. See Rhode Island General Laws 10-21-2
- Receivership: means a proceeding in which a receiver is appointed. See Rhode Island General Laws 10-21-2