§ 19-12-2 - Appointment and powers of receiver. - Rhode Island Statutes

SECTION 19-12-2

   § 19-12-2  Appointment and powers ofreceiver. – The court may appoint, without bond, the director or one of the director'sdeputies, or both, as the receiver or receivers to take possession of theproperty and effects of the financial institution or credit union, subject toany directions prescribed by the court, and this appointment shall vest in thereceiver or receivers all the right, title and interest of the financialinstitution or credit union in and to its property and effects, and shallvacate and dissolve all attachments or liens thereon, created by or obtained inor pursuant to any suit or proceeding at law or in equity against the financialinstitution or credit union which was begun within four (4) months before theappointment of the receiver or receivers.