§ 10-4-1 - Residence of assignee – Bond. - Rhode Island Statutes

SECTION 10-4-1

   § 10-4-1  Residence of assignee –Bond. – Every assignee at common law for the benefit of creditors shall be a residentof the state and shall give bond to the clerk of the superior court, with somesurety company authorized to do business in this state, as surety, in theamount of one thousand dollars ($1,000), conditioned on the faithfulperformance of his or her duties. All such bonds shall be filed in the officeof the clerk of the superior court and may be sued upon in the proper court atthe relation of any party interested or aggrieved, upon surety for costs beinggiven to the court in which the suit is brought. Joint assignees may give jointor several bonds.