(a)  Except as otherwise provided in subsection (b) or (c) of this section, this chapter applies to a receivership for an interest in any one or more of the following:

(1)  Real property and any personal property related to or used in operating the real property; or

(2)  Personal property and fixtures.

Terms Used In Rhode Island General Laws 10-21-4

  • Affiliate: means :

    (i)  With respect to an individual:

    (A)  A companion of the individual;

    (B)  A lineal ancestor or descendant, whether by blood or adoption of:

    (I)  The individual; or

    (II)  A companion of the individual;

    (C)  A companion of an ancestor or descendant described in § 10-21-2(1)(i)(B);

    (D)  A sibling, aunt, uncle, great aunt, great uncle, first cousin, niece, nephew, grandniece, or grandnephew of the individual, whether related by the whole or the half blood or adoption, or a companion of any of them; or

    (E)  Any other individual occupying the residence of the individual; and

    (ii)  With respect to a person other than an individual:

    (A)  Another person that directly or indirectly controls, is controlled by, or is under common control with the person;

    (B)  An officer, director, manager, member, partner, employee, or trustee or other fiduciary of the person; or

    (C)  A companion of, or an individual occupying the residence of, an individual described in §§ 10-21-2(1)(ii)(A) or (B). See Rhode Island General Laws 10-21-2

  • Court: means the superior court. See Rhode Island General Laws 10-21-2
  • Governmental unit: means an office, department, division, bureau, board, commission, or other agency of this state or a subdivision of this state. See Rhode Island General Laws 10-21-2
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Owner: means the person for whose property a receiver is appointed. See Rhode Island General Laws 10-21-2
  • Person: means an individual, estate, partnership, association, trust, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. See Rhode Island General Laws 10-21-2
  • Personal property: All property that is not real property.
  • Property: means all of a person's right, title, and interest, both legal and equitable, in real and personal property, tangible and intangible, wherever located and however acquired. See Rhode Island General Laws 10-21-2
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Receiver: means a person appointed by the court as the court's agent, and subject to the court's direction, to take possession of, manage, and, if authorized by this chapter or court order, transfer, sell, lease, license, exchange, collect, or otherwise dispose of receivership property. See Rhode Island General Laws 10-21-2
  • Receivership: means a proceeding in which a receiver is appointed. See Rhode Island General Laws 10-21-2
  • Rents: means :

    (i)  Sums payable for the right to possess or occupy, or for the actual possession or occupation of, real property of another person;

    (ii)  Sums payable to a mortgagor under a policy of rental-interruption insurance covering real property;

    (iii)  Claims arising out of a default in the payment of sums payable for the right to possess or occupy real property of another person;

    (iv)  Sums payable to terminate an agreement to possess or occupy real property of another person;

    (v)  Sums payable to a mortgagor for payment or reimbursement of expenses incurred in owning, operating, and maintaining real property or constructing or installing improvements on real property; or

    (vi)  Other sums payable under an agreement relating to the real property of another person which constitute rents under law of this state other than this chapter. See Rhode Island General Laws 10-21-2

  • State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Rhode Island General Laws 10-21-2

(b)  This chapter does not apply to a receivership for an interest in real property improved by one to four (4) dwelling units unless:

(1)  The interest is used for agricultural, commercial, industrial, or mineral-extraction purposes, other than incidental uses by an owner occupying the property as the owner’s primary residence;

(2)  The interest secures an obligation incurred at a time when the property was used or planned for use for agricultural, commercial, industrial, or mineral-extraction purposes;

(3)  The owner planned or is planning to develop the property into one or more dwelling units to be sold or leased in the ordinary course of the owner’s business; or

(4)  The owner is collecting or has the right to collect rents or other income from the property from a person other than an affiliate of the owner.

(c)  This chapter does not apply to a receivership authorized by law of this state other than this chapter in which the receiver is a governmental unit or an individual acting in an official capacity on behalf of the unit except to the extent provided by the other law.

(d)  This chapter does not limit the authority of a court to appoint a receiver under law of this state other than this chapter.

(e)  Unless displaced by a particular provision of this chapter, the principles of law and equity supplement this chapter.

History of Section.
P.L. 2022, ch. 107, § 1, effective June 20, 2022; P.L. 2022, ch. 108, § 1, effective June 20, 2022.