§ 27-14.3-33 - Claims of holders of void or voidable rights. - Rhode Island Statutes

SECTION 27-14.3-33

   § 27-14.3-33  Claims of holders of void orvoidable rights. – (a) No claims of a creditor who has received or acquired a preference, lien,conveyance, transfer, assignment, or encumbrance voidable under this chaptershall be allowed unless he or she surrenders the preference, lien, conveyance,transfer, assignment, or encumbrance. If the avoidance is effected by aproceeding in which a final judgment has been entered, the claim shall not beallowed unless the money is paid or the property is delivered to the liquidatorwithin thirty (30) days from the date of the entering of the final judgment,except that the court having jurisdiction over the liquidation may allowfurther time if there is an appeal or other continuation of the proceeding.

   (b) A claim allowable under § 27-14.3-32(a) by reason ofthe avoidance, whether voluntary or involuntary, or a preference, lien,conveyance, transfer, assignment, or encumbrance, may be filed as an excusedlast filing under § 27-14.3-39 if filed within thirty (30) days from thedate of the avoidance, or within the further time allowed by the court under§ 27-14.3-32(a).