(a)  Any receiver appointed in a proceeding under this chapter may at any time apply for, and any court of general jurisdiction may grant, restraining orders, preliminary and permanent injunctions, and other orders as may be deemed necessary and proper to prevent:

(1)  The transaction of further business;

(2)  The transfer of property;

(3)  Interference with the receiver or with a proceeding under this chapter;

(4)  Waste of the insurer’s assets;

(5)  Dissipation and transfer of bank accounts;

(6)  The institution or further prosecution of any actions or proceedings;

(7)  The obtaining of preferences, judgments, attachments, garnishments, or liens against the insurer, its assets, or its policyholders;

(8)  The levying of execution against the insurer, its assets, or its policyholders;

(9)  The making of any sale or deed for nonpayment of taxes or assessments that would lessen the value of the assets of the insurer;

(10)  The withholding from the receiver of books, accounts, documents, or other records relating to the business of the insurer; or

(11)  Any other threatened or contemplated action that might lessen the value of the insurer’s assets or prejudice the rights of policyholders, creditors, or shareholders, or the administration of any proceeding under this chapter.

Terms Used In Rhode Island General Laws 27-14.3-5

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.

(b)  The receiver may apply to any court outside of the state for the relief described in § 27-14.3-4(a).

History of Section.
P.L. 1993, ch. 248, § 1.