Rhode Island § 19-12-10 § 19-12-10. Automatic stay.

Rhode Island Statutes

§ 19-12-10 — § 19-12-10. Automatic stay.

Rhode Island § 19-12-10

Title 19Financial institutions

Ch. 19-12Receivership

This text of Rhode Island § 19-12-10 (§ 19-12-10. Automatic stay.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 19-12-10 (2026).

Text

§ 19-12-10. Automatic stay.
(a) The appointment of a temporary or permanent receiver pursuant to the provisions of
            this chapter, or the taking of possession of the financial institution or credit union
            and its assets by the director, or the director's designee, whichever shall first
            occur, shall operate as a stay until further order of the court, applicable to all
            persons and entities, of:
         
(1) The commencement or continuation, including the issuance or employment of process,
            of a judicial, administrative, or other action or proceeding against the financial
            institution or credit union that was, 

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§ 19-12-10. Automatic stay.

(a) The appointment of a temporary or permanent receiver pursuant to the provisions of this chapter, or the taking of possession of the financial institution or credit union and its assets by the director, or the director's designee, whichever shall first occur, shall operate as a stay until further order of the court, applicable to all persons and entities, of:

(1) The commencement or continuation, including the issuance or employment of process, of a judicial, administrative, or other action or proceeding against the financial institution or credit union that was, or could have been, commenced before the commencement of the receivership under this chapter, or to recover a claim against the financial institution or credit union that arose before the commencement of the receivership pursuant to this chapter;

(2) The enforcement, against the financial institution or credit union or against property of the receivership estate, or a judgment obtained before the commencement of the receivership under this chapter;

(3) Any act to obtain possession of property of, or from, the receivership estate or to exercise control over property of the estate;

(4) Any act to create, perfect, or enforce any lien against property of the receivership estate;

(5) Any act to create, perfect, or enforce against property of the financial institution or credit union any lien to the extent that the lien secures a claim that arose before the commencement of the receivership under this title;

(6) Any act to collect, assess, or recover a claim against the financial institution or credit union that arose before the commencement of the receivership under this chapter; and

(7) The setoff of any debt owing to the financial institution or credit union that arose before the commencement of the receivership under this chapter against any claim against the financial institution or credit union.

(b) Nothing in this section shall be construed to prevent the issuance, employment, or enforcement of process in conjunction with any investigation by state or federal authorities.