§7-1.2-1323  Jurisdiction of court to appoint a receiver. –

Published: 2015

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Corporations, Associations, and Partnerships


Rhode Island Business Corporation Act

PART 7-1.2-1301

Dissolution and Revocation

SECTION 7-1.2-1323

   § 7-1.2-1323  Jurisdiction of court to

appoint a receiver. –

Upon the establishment of any of the grounds for liquidation of the assets and

business of

   (1) A domestic corporation or

   (2) A foreign corporation, to the extent the foreign

corporation has assets within the state, stated in § 7-1.2-1314, and upon

the establishment that the liquidation would not be appropriate, the superior

court has full power to appoint a receiver, with any powers and duties that the

court, from time to time, directs, and to take any other proceedings that the

court deems advisable under the circumstances. The provisions of §§

7-1.2-1314 – 7-1.2-1322, insofar as they are consistent with the nature of

the proceeding, apply to the proceeding, and in the proceeding the court has

the 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 and

equity require.

History of Section.

(P.L. 2004, ch. 216, § 2; P.L. 2004, ch. 274, § 2.)