Section 10-21-6.1 - Appointment of temporary non-liquidating receiver(a) The court may appoint a temporary non-liquidating receiver on the request of the owner if: (1) As of the date of an emergency declaration, the owner was not insolvent;(2) As of the date of an emergency declaration, the owner was generally paying its debts as those debts became due;(3) As of the date of an emergency declaration, the owner was not in material default of its obligations to a secured party; and(4) Either: (i) Because of the events giving rise to the emergency, the owner's gross revenue has declined by more than twenty percent (20%), in a sixty (60) day period beginning on or after the date of an emergency declaration, as compared to the same period of the previous year; or(ii) Because of action by a governmental unit exercising its police or regulatory power to mitigate or otherwise address the emergency, the owner suspended or ceased a substantial part of its business operations.R.I. Gen. Laws § 10-21-6.1
Added by 2022 Pub. Laws, ch. 107,§ 1, eff. 6/20/2022.Added by 2022 Pub. Laws, ch. 108,§ 1, eff. 6/20/2022.