Rhode Island General Laws 45-47-1. Lien on insurance proceeds
There is created a lien in favor of any taking jurisdiction in this state on the proceeds of any insurance policy based upon a claim made for damage or loss to a building or other structure caused by or arising out of any fire or explosion. The lien arises upon any unpaid tax, special ad valorem levy, special assessment, or other charge imposed upon real property by or on behalf of the state, a municipal corporation, or a special district which is an encumbrance on real property, whether or not evidenced by written instrument, that has remained undischarged for at least one year prior to the filing of a proof of loss. The lien also arises as a result of any costs incurred by a municipal corporation to secure, demolish, or render an unsafe building or structure or part of the structure safe, in accordance with chapter 27.3 of Title 23.
History of Section.
P.L. 1982, ch. 251, § 1; P.L. 1984, ch. 179, § 1.
Terms Used In Rhode Island General Laws 45-47-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.