Under the direction of the court, the liquidator shall pay distributions in a manner that will assure the proper recognition of priorities and a reasonable balance between the expeditious completion of the liquidation and the protection of unliquidated and undetermined claims, including third-party claims. Distribution of assets in kind may be made at valuations set by agreement between the liquidator and the creditor and approved by the court.
R.I. Gen. Laws § 27-14.3-48
Distribution of assets
Known as the Insurers’ Rehabilitation and Liquidation Act
The act spans §§ 27-14.3-1 to 27-14.3-9 (67 sections).
P.L. 1993, ch. 248, § 1.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.