Rhode Island § 42-116-30 § 42-116-30. Liability of the corporation.

Rhode Island Statutes

§ 42-116-30 — § 42-116-30. Liability of the corporation.

Rhode Island § 42-116-30

Title 42State Affairs and Government

Ch. 42-116Rhode Island Depositors Economic Protection Corporation

This text of Rhode Island § 42-116-30 (§ 42-116-30. Liability of the corporation.) 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 § 42-116-30 (2026).

Text

§ 42-116-30. Liability of the corporation.
The corporation is, subject to the period of limitations set forth in § 9-1-25, liable in actions of tort only to the extent that those actions do not arise from
            the performance of any functions found or deemed to be essential or discretionary
            governmental functions. Any recovery in an action or any recovery by any person in
            one or more of any actions against the corporation, its directors, employees, or agents
            shall not exceed one hundred thousand dollars ($100,000) per plaintiff in the absence
            of fraud or willful misconduct. In the absence of fraud or willful misconduct, the
            directors are not personally l

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§ 42-116-30. Liability of the corporation.

The corporation is, subject to the period of limitations set forth in § 9-1-25, liable in actions of tort only to the extent that those actions do not arise from the performance of any functions found or deemed to be essential or discretionary governmental functions. Any recovery in an action or any recovery by any person in one or more of any actions against the corporation, its directors, employees, or agents shall not exceed one hundred thousand dollars ($100,000) per plaintiff in the absence of fraud or willful misconduct. In the absence of fraud or willful misconduct, the directors are not personally liable to any party on account of any action (whether tort or otherwise) arising from or related to the manner or terms of the disposition of the corporation's assets, nor shall the manner or terms of the disposition constitute a defense to any obligation owed to the corporation.