Emergency declaration temporary non-liquidating receivership transition provisions

R.I. Gen. Laws § 10-21-28.1., under Chapter 10-21 Rhode Island Commercial Receivership Act.

R.I. Gen. Laws § 10-21-28.1.

(a) Notwithstanding § 10-21-28, the court may for cause apply this chapter to a receivership for which a receiver was appointed before June 20, 2022, if the owner would otherwise be eligible for a temporary non-liquidating receivership.

(b) Unless extended by the general assembly, the emergency declaration provisions apply only to a receivership in which the court first appoints a receiver:

(1) If because of the COVID-19 pandemic, during the period beginning on the effective date of this chapter [June 20, 2022] and ending on June 30, 2022; or

(2) If because of any other emergency, during the period beginning on the date the emergency declaration is issued and ending ninety (90) days after the end of the emergency.