§ 44-7-25 - Sale of rights to uncollected taxes that are due and payable. - Rhode Island Statutes

SECTION 44-7-25

   § 44-7-25  Sale of rights to uncollectedtaxes that are due and payable. – The collector, with the approval of the city or town council, is authorized tosell to a bank or other financial institution the rights of the city or town toreceive taxes, which are due and payable as of the end of the city or town'sfiscal year and are uncollected at the time of the sale. Any agreement executedunder this section shall be filed with the city or town clerk, but does notneed to be filed or recorded under the Uniform Commercial Code, title 6A. Thecollector shall act as the sole collecting agent for the bank or financialinstitution and shall exercise the rights under chapters 7 – 9 of thistitle as to collection, enforcement of liens, and sale for nonpayment withrespect to those taxes.