§ 19-13-10 - Emergency powers of the director. - Rhode Island Statutes

SECTION 19-13-10

   § 19-13-10  Emergency powers of thedirector. – In the interest of the protection of depositors in financial institutions orcredit unions, the director is authorized to waive, in whole or in part, anyprovisions of this title relating to public hearings and/or public notice thatwould hinder or prevent the merger, consolidation, purchase of assets andassumption of liabilities, or other acquisition of a financial institution orcredit union that is in danger of insolvency or that has been closed by theproclamation of a banking emergency in accordance with the provisions of thischapter. All waivers shall be made public as to the final decision ordisposition within ninety (90) days after the waiver is granted.