§ 27-64-9 - Remuneration of receivers. - Rhode Island Statutes

SECTION 27-64-9

   § 27-64-9  Remuneration of receivers.– (a) With respect to orders of rehabilitation, conservation or liquidationdirected at a protected cell company, the remuneration, expenses, and othercompensation of the receiver shall be payable from the assets of the company'sgeneral account, in accordance with the priority of distribution set forth in§§ 27-14.3-46 and 27-14.4-22.

   (b) With respect to orders of rehabilitation, conservation orliquidation directed at a protected cell, the remuneration, expenses, and othercompensation of the receiver shall be payable from the protected cell assetsattributable to that protected cell. In the case where more than one protectedcell is the subject of the order, the receiver shall account for remuneration,expenses, and other compensation separately for each protected cell inaccordance with actual time and expenses attributable to the rehabilitation,conservation or liquidation of each respective protected cell.

   (c) With respect to orders of rehabilitation, conservation orliquidation directed at a protected cell company during a pendingrehabilitation, conservation or liquidation of one or more protected cells, theremuneration, expenses, and other compensation of the receiver of the protectedcells shall be satisfied from the protected cell assets of the protected cellor cells in accordance with the provisions of subsection (b) of this section,and the remuneration, expenses, and other compensation of the receiver of theprotected cell company shall be satisfied from the assets of the company'sgeneral account.