§ 19-12-14 - Presumptions. - Rhode Island Statutes

SECTION 19-12-14

   § 19-12-14  Presumptions. – With respect to any financial institution or credit union to which areceivership proceeding is commenced pursuant to the provisions of thischapter, any member of its governing body or officer who votes or takes anyaction solely to approve or authorize the commencement of the proceeding or toaccept service of citation or other process, to admit or cause to be admittedthe allegations of any complaint or petition commencing the proceeding or toconsent to or join in the request for relief contained therein shall beconclusively presumed to have taken the action in good faith, in the exerciseof a reasonable business judgment and in the best interests of the financialinstitution or credit union, its depositors or other creditors.