§ 19-12-16 — § 19-12-16. Appeals.

Rhode Island § 19-12-16

• Jurisdiction: Rhode Island
• Title 19: Financial institutions
• Ch. 19-12: Receivership

Text

§ 19-12-16. Appeals.

Any order or judgment of the court having jurisdiction of any receivership proceeding under this chapter that provides for a payment to employees and depositors that have priority under § 19-12-7(a)(2), (a)(3) and/or (a)(4) or a transfer of assets of the financial institution or credit union for a consideration that includes the payment or assumption of some or all of the liabilities of the financial institution or credit union to the employees or depositors shall be final and binding and not subject to reversal on appeal unless, prior to the consummation of the transfer, the court that entered the judgment shall, on motion of an aggrieved party in interest, grant a stay pending appeal conditioned upon the appellant filing a supersedeas bond in the full amount of the loss the employees and depositors may sustain in the event the order or judgment is upheld on appeal or the supreme court shall, after the motion has been denied by the superior court and prior to the consummation of the payment or transfer, grant a stay pending appeal conditioned upon the appellant filing a similarly conditioned supersedeas bond.

Legislative History

P.L. 1995, ch. 82, § 50.