2019 Rhode Island General Laws
Title 7 - Corporations, Associations and Partnerships
Chapter 7-1.2 Rhode Island Business Corporation Act
Section 7-1.2-1323 Jurisdiction of court to appoint a receiver.

Universal Citation: RI Gen L § 7-1.2-1323 (2019)

§ 7-1.2-1323. Jurisdiction of court to appoint a receiver.

Upon the establishment of any of the grounds for liquidation of the assets and business of

(1) A domestic corporation or

(2) A foreign corporation, to the extent the foreign corporation has assets within the state, stated in § 7-1.2-1314, and upon the establishment that the liquidation would not be appropriate, the superior court has full power to appoint a receiver, with any powers and duties that the court, from time to time, directs, and to take any other proceedings that the court deems advisable under the circumstances. The provisions of §§ 7-1.2-1314 - 7-1.2-1322, insofar as they are consistent with the nature of the proceeding, apply to the proceeding, and in the proceeding the court has the full powers of a court of equity to make or enter any orders, injunctions, and decrees and grant any other relief in the proceeding that justice and equity require.

History of Section.
(P.L. 2004, ch. 216, § 2; P.L. 2004, ch. 274, § 2.)

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