Rhode Island § 19-11-9 § 19-11-9. Rules as to new deposits.

Rhode Island Statutes

§ 19-11-9 — § 19-11-9. Rules as to new deposits.

Rhode Island·Title 19 Financial institutions·Ch. 19-11 Conservatorship

§ 19-11-9. Rules as to new deposits.
Whenever the period of conservatorship provided for in this chapter has been terminated
            and the financial institution or credit union is permitted to resume business in accordance
            with this chapter, or whenever a receiver of the property of the financial institution
            or credit union has been appointed in accordance with law, the new deposits that may
            have been received shall be disposed of or held for the persons entitled to them in
            any manner that the director, or the director's designee, shall prescribe, unless
            and except as the persons entitled to those deposits have withdrawn the deposits within
            fi

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§ 19-11-9. Rules as to new deposits.

Whenever the period of conservatorship provided for in this chapter has been terminated and the financial institution or credit union is permitted to resume business in accordance with this chapter, or whenever a receiver of the property of the financial institution or credit union has been appointed in accordance with law, the new deposits that may have been received shall be disposed of or held for the persons entitled to them in any manner that the director, or the director's designee, shall prescribe, unless and except as the persons entitled to those deposits have withdrawn the deposits within fifteen (15) days after the conservator has given written notice to them of the opportunity to withdraw those deposits. The conservator shall give this written notice and opportunity at any time and in any manner that the director, or the director's designee, shall prescribe.

Rhode Island § 19-11-9 (§ 19-11-9. Rules as to new deposits.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.