Rhode Island General Laws 34-44-7. Nonapplicability of monetary jurisdiction limits – Personal liability of receiver
Current as of: 2024 | Check for updates
|
Other versions
The amounts expended by the receiver, the amount of any notes issued by the receiver, any amounts expended by any other person authorized by the court under this chapter, any mortgage authorized by the court under this chapter and the amounts expended in connection with the foreclosure of any mortgage authorized by the court under this chapter shall not be limited by any monetary jurisdictional limit otherwise imposed upon the court that appoints the receiver. The receiver shall not be personally liable except for misfeasance, malfeasance, or nonfeasance in the performance of the function of his or her office.
History of Section.
P.L. 1986, ch. 447, § 1.
Terms Used In Rhode Island General Laws 34-44-7
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6