Rhode Island Statutes

§ 34-46-5 — § 34-46-5. Enforcement of lien.

Rhode Island·Title 34 Property·Ch. 34-46 Dry Dock Facilities

§ 34-46-5. Enforcement of lien.

A facility operator may enforce a lien created by this chapter only if the notice requirement set forth in § 34-46-4 is satisfied.

(1) Sale — Use of proceeds.

(i) If a vessel owner is in default for a period of more than ninety (90) days, a facility operator may enforce a lien by selling the vessel at a commercially reasonable public sale for cash. As used in this section, "commercially reasonable� shall have the same meaning as in the Uniform Commercial Code. The proceeds of the sale shall be applied in the following order:

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Rhode Island § 34-46-5 (§ 34-46-5. Enforcement of lien.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

P.L. 1994, ch. 162, § 3; P.L. 2021, ch. 102, § 1, effective July 1, 2021; P.L. 2021, ch. 103, § 1, effective July 1, 2021.

Nearby Sections

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