Rhode Island General Laws 10-21-21. Fees and expenses
(a) The court may award a receiver from receivership property the reasonable and necessary fees and expenses of performing the duties of the receiver and exercising the powers of the receiver.
Terms Used In Rhode Island General Laws 10-21-21
- Court: means the superior court. See Rhode Island General Laws 10-21-2
- Person: means an individual, estate, partnership, association, trust, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. 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
- Receiver: means a person appointed by the court as the court's agent, and subject to the court's direction, to take possession of, manage, and, if authorized by this chapter or court order, transfer, sell, lease, license, exchange, collect, or otherwise dispose of receivership property. 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
(b) The court may order one or more of the following to pay the reasonable and necessary fees and expenses of the receivership, including reasonable attorneys’ fees and costs:
(1) A person that requested the appointment of the receiver, if the receivership does not produce sufficient funds to pay the fees and expenses; or
(2) A person whose conduct justified or would have justified the appointment of the receiver under § 10-21-6(a)(1).
History of Section.
P.L. 2022, ch. 107, § 1, effective June 20, 2022; P.L. 2022, ch. 108, § 1, effective June 20, 2022.