Rhode Island General Laws Title 10. Courts and Civil Procedure--Procedure in Particular Actions § 10-18-5. Resignation and removal of receiver--Termination of receivership
Current as of January 01, 2022 | Updated by FindLaw Staff
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(a) The receiver may resign only on permission of a justice of the superior court.
(b) The receiver may be removed by any creditor or the debtor at any time by application to the court and upon good cause satisfactory to the court being shown for his or her removal.
(c) Upon resignation or removal of the receiver or termination of the receivership for any other reason:
(1) If such event occurs during the pendency of the plan, the court shall appoint a successor receiver in accordance with the provisions of § 10-18-4; and
(2) The receiver shall render full accounting to the court of the transactions under the plan during his or her service as receiver.
Cite this article: FindLaw.com - Rhode Island General Laws Title 10. Courts and Civil Procedure--Procedure in Particular Actions § 10-18-5. Resignation and removal of receiver--Termination of receivership - last updated January 01, 2022 | https://codes.findlaw.com/ri/title-10-courts-and-civil-procedure-procedure-in-particular-actions/ri-gen-laws-sect-10-18-5.html
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