§ 42-116-40 - Court-approved settlements. - Rhode Island Statutes

SECTION 42-116-40

   § 42-116-40  Court-approved settlements.– (a) Notwithstanding any provisions of law to the contrary, a person,corporation, or other entity who has resolved its liability to the Rhode Islanddepositors economic protection corporation, the receiver of Rhode Island shareand deposit indemnity corporation or the receiver of any state-charteredfinancial institution in a judicially-approved good faith settlement is notliable for claims for contribution or equitable indemnity regarding mattersaddressed in the settlement. The settlement does not discharge any other jointtortfeasors unless its terms provide, but it reduces the potential liability ofthe joint tortfeasors by the amount of the settlement.

   (b) The provisions of this section apply solely andexclusively to settlements of liabilities to the Rhode Island depositorseconomic protection corporation, the receiver of the Rhode Island share anddeposit indemnity corporation and the receiver of any other state-charteredfinancial institution and shall not be construed to amend or repeal theprovisions of chapter 6 of title 10 relating to contributions among jointtortfeasors, other than as specifically provided in this section.