§ 10-18-5 - Resignation and removal of receiver – Termination of receivership. - Rhode Island Statutes

SECTION 10-18-5

   § 10-18-5  Resignation and removal ofreceiver – Termination of receivership. – (a) The receiver may resign only on permission of a justice of the superiorcourt.

   (b) The receiver may be removed by any creditor or the debtorat any time by application to the court and upon good cause satisfactory to thecourt being shown for his or her removal.

   (c) Upon resignation or removal of the receiver ortermination of the receivership for any other reason:

   (1) If such event occurs during the pendency of the plan, thecourt shall appoint a successor receiver in accordance with the provisions of§ 10-18-4; and

   (2) The receiver shall render full accounting to the court ofthe transactions under the plan during his or her service as receiver.