Rhode Island § 45-27-12 § 45-27-12. Remedies conferrable on obligee by housing authority.

Rhode Island Statutes

§ 45-27-12 — § 45-27-12. Remedies conferrable on obligee by housing authority.

Rhode Island·Title 45 Towns and cities·Ch. 45-27 Housing Authority Bonds and Obligations

§ 45-27-12. Remedies conferrable on obligee by housing authority.
Any authority has power by its trust indenture, mortgage, lease, or other contract
            to confer upon any obligee, holding or representing a specified amount in bonds, lease,
            or other obligations, the right upon the happening of an "event of defaultâ€� as defined
            in the instrument:
         
(1) By suit, action, or proceeding in any court of competent jurisdiction to obtain the
            appointment of a receiver of any housing project of the authority or any part or parts
            of it. If the receiver is appointed, he or she may enter and take possession of the
            hous

Free access — add to your briefcase to read the full text and ask questions with AI

§ 45-27-12. Remedies conferrable on obligee by housing authority.

Any authority has power by its trust indenture, mortgage, lease, or other contract to confer upon any obligee, holding or representing a specified amount in bonds, lease, or other obligations, the right upon the happening of an "event of defaultâ€� as defined in the instrument:

(1) By suit, action, or proceeding in any court of competent jurisdiction to obtain the appointment of a receiver of any housing project of the authority or any part or parts of it. If the receiver is appointed, he or she may enter and take possession of the housing project or any part or parts of it, and operate and maintain the housing project, and collect and receive all fees, rents, revenues, or other charges arising from it in the same manner as the authority itself might do, and keep those moneys in a separate account or accounts and apply them in accordance with the obligations of the authority as the court directs.

(2) By suit, action, or proceeding in any court of competent jurisdiction to require the authority and commissioners to account as if it and they were the trustees of an express trust.

Rhode Island § 45-27-12 (§ 45-27-12. Remedies conferrable on obligee by housing authority.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.