Rhode Island § 42-64-40 § 42-64-40. Court-approved settlements.

Rhode Island Statutes

§ 42-64-40 — § 42-64-40. Court-approved settlements.

Rhode Island § 42-64-40

Title 42State Affairs and Government

Ch. 42-64Rhode Island Commerce Corporation

This text of Rhode Island § 42-64-40 (§ 42-64-40. Court-approved settlements.) 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 § 42-64-40 (2026).

Text

§ 42-64-40. 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 commerce corporation 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 exclusiv

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§ 42-64-40. 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 commerce corporation 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 claims asserted or previously asserted by the Rhode Island economic development corporation or the Rhode Island commerce corporation or hereafter asserted by the Rhode Island commerce corporation arising out of or relating to the issuance by the Rhode Island economic development corporation of seventy-five million dollars ($75,000,000) in revenue bonds denominated "THE RHODE ISLAND ECONOMIC DEVELOPMENT CORPORATION JOB CREATION GUARANTY PROGRAM TAXABLE REVENUE BOND (38 STUDIOS, LLC PROJECT) SERIES 2010â€� 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.

(c) For purposes of this section, a good faith settlement is one that does not exhibit collusion, fraud, dishonesty, or other wrongful or tortious conduct intended to prejudice the non-settling tortfeasor(s), irrespective of the settling or non-settling tortfeasors' proportionate share of liability.