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Can you summarize RIGL Title 19, Chapter 12?
Financial institutions > Receivership
Short Summary
The provided legal document content pertains to receivership proceedings under the State of Rhode Island General Laws related to financial institutions and credit unions. It covers various aspects such as the finality and enforceability of court orders or judgments in receivership proceedings, the presumption of good faith for certain actions taken by members of the governing body or officers, the severability of provisions, the court’s power to shorten time for scheduling hearings and giving notice, the validity of agreements that may diminish or defeat the interest of a financial institution or credit union, the rights and powers of a receiver, the automatic stay upon appointment of a receiver, additional powers granted to a receiver, the payment of priority claims, the priority of claims in a receivership proceeding, the priority of claims in a receivership or conservatorship involving insured financial institutions or credit unions, legislative findings related to banking emergencies, the employment of clerical assistance by a receiver, the appointment of a receiver and its effects, the schedule of property to be made by the president or treasurer, and the court’s power to grant injunctions against financial institutions or credit unions. These documents apply to financial institutions, credit unions, employees, depositors, and creditors involved in receivership proceedings under the State of Rhode Island General Laws.
Whom does it apply to?
Financial institutions, credit unions, employees, depositors, creditors
What does it govern?
Receivership proceedings under the State of Rhode Island General Laws related to financial institutions and credit unions
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Rhode Island