Rhode Island § 28-43-16 § 28-43-16. Priority of contributions in bankruptcy or judicial distribution of assets.

Rhode Island Statutes

§ 28-43-16 — § 28-43-16. Priority of contributions in bankruptcy or judicial distribution of assets.

Rhode Island·Title 28 Labor and Labor Relations·Ch. 28-43 Employment Security â€” Contributions

§ 28-43-16. Priority of contributions in bankruptcy or judicial distribution of assets.
In the event of any distribution of an employer's assets pursuant to an order of any
            court under the laws of this state, including any receivership, assignment for benefit
            of creditors, adjudicated insolvency, composition, or similar proceeding, contribution
            payments then or subsequently due shall have the same priority given to wage claims
            of not more than one hundred dollars ($100) to each claimant, earned within six (6)
            months of the commencement of the proceeding. In the event of an employer's adjudication
            in bankruptcy, judicially confirmed extension proposa

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§ 28-43-16. Priority of contributions in bankruptcy or judicial distribution of assets.

In the event of any distribution of an employer's assets pursuant to an order of any court under the laws of this state, including any receivership, assignment for benefit of creditors, adjudicated insolvency, composition, or similar proceeding, contribution payments then or subsequently due shall have the same priority given to wage claims of not more than one hundred dollars ($100) to each claimant, earned within six (6) months of the commencement of the proceeding. In the event of an employer's adjudication in bankruptcy, judicially confirmed extension proposal, or composition under the federal Bankruptcy Act, 11 U.S.C. § 101 et seq., contributions then or subsequently due shall be entitled to the priority as is provided in 11 U.S.C. § 507.

Rhode Island § 28-43-16 (§ 28-43-16. Priority of contributions in bankruptcy or judicial distribution of assets.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

P.L. 1936, ch. 2333, § 14; P.L. 1937, ch. 2556, § 1; G.L. 1938, ch. 284, § 14; P.L. 1939, ch. 670, § 11; P.L. 1949, ch. 2175, § 1; G.L. 1956, § 28-43-16; P.L. 1986, ch. 198, § 27.