§ 7-1.2-1323 - Jurisdiction of court to appoint a receiver. - Rhode Island Statutes

SECTION 7-1.2-1323

   § 7-1.2-1323  Jurisdiction of court toappoint a receiver. – Upon the establishment of any of the grounds for liquidation of the assets andbusiness of

   (1) A domestic corporation or

   (2) A foreign corporation, to the extent the foreigncorporation has assets within the state, stated in § 7-1.2-1314, and uponthe establishment that the liquidation would not be appropriate, the superiorcourt has full power to appoint a receiver, with any powers and duties that thecourt, from time to time, directs, and to take any other proceedings that thecourt deems advisable under the circumstances. The provisions of §§7-1.2-1314 – 7-1.2-1322, insofar as they are consistent with the nature ofthe proceeding, apply to the proceeding, and in the proceeding the court hasthe full powers of a court of equity to make or enter any orders, injunctions,and decrees and grant any other relief in the proceeding that justice andequity require.