§ 42-116-40. Court-approved settlements.
(a) Notwithstanding any provisions of law to the contrary, a person, corporation, or other
entity who has resolved its liability to the Rhode Island depositors economic protection
corporation, the receiver of Rhode Island share and deposit indemnity corporation
or the receiver of any state-chartered financial institution in a judicially-approved
good faith settlement is not liable for claims for contribution or equitable indemnity
regarding matters addressed in the settlement. The settlement does not discharge any
other joint tortfeasors unless its terms provide, but it reduces the potential liability
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§ 42-116-40. Court-approved settlements.
(a) Notwithstanding any provisions of law to the contrary, a person, corporation, or other
entity who has resolved its liability to the Rhode Island depositors economic protection
corporation, the receiver of Rhode Island share and deposit indemnity corporation
or the receiver of any state-chartered financial institution in a judicially-approved
good faith settlement is not liable for claims for contribution or equitable indemnity
regarding matters addressed in the settlement. The settlement does not discharge any
other joint tortfeasors unless its terms provide, but it reduces the potential liability
of the joint tortfeasors by the amount of the settlement.
(b) The provisions of this section apply solely and exclusively to settlements of liabilities
to the Rhode Island depositors economic protection corporation, the receiver of the
Rhode Island share and deposit indemnity corporation and the receiver of any other
state-chartered financial institution and shall not be construed to amend or repeal
the provisions of chapter 6 of title 10 relating to contributions among joint tortfeasors, other than as specifically provided
in this section.