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Current as of January 01, 2022 | Updated by FindLaw Staff
(a) In this section, “insolvent” means:
(1) Having generally ceased to pay debts in the ordinary course of business other than as a result of good-faith dispute;
(2) Being unable to pay debts as they become due; or
(3) Being insolvent within the meaning of the federal bankruptcy law, 11 U.S.C. § 101 et seq., as amended.
(b) The director may suspend, revoke, or deny renewal of a provider's registration if:
(1) A fact or condition exists that, if it had existed when the registrant applied for registration as a provider, would have been a reason for denying registration;
(2) The provider has committed a material violation of this chapter or a rule or order of the director under this chapter;
(3) The provider is insolvent;
(4) The provider or an employee or affiliate of the provider has refused to permit the director to make an examination authorized by this chapter, failed to comply with § 19-14.8-32(b)(2) within fifteen (15) days after request, or made a material misrepresentation or omission in complying with § 19-14.8-32(b)(2); or
(5) The provider has not responded within a reasonable time and in an appropriate manner to communications from the director.
(c) If a provider does not comply with § 19-14.8-22(f) or if the director otherwise finds that the public health or safety or general welfare requires emergency action, the director may order a summary suspension of the provider's registration, effective on the date specified in the order.
(d) If the director suspends, revokes, or denies renewal of the registration of a provider, the director may seek a court order authorizing seizure of any or all of the money in a trust account required by § 19-14.8-22, books, records, accounts, and other property of the provider that are located in this state.
(e) If the director suspends or revokes a provider's registration, the provider may appeal and request a hearing pursuant to chapter 35 of title 42.
Cite this article: FindLaw.com - Rhode Island General Laws Title 19. Financial Institutions § 19-14.8-34. Suspension, revocation or nonrenewal of registration - last updated January 01, 2022 | https://codes.findlaw.com/ri/title-19-financial-institutions/ri-gen-laws-sect-19-14-8-34/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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