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R.I. Gen. Laws § 27-14.3-50

Termination of proceedings

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.

(a) When all assets justifying the expense of collection and distribution have been collected and distributed under this chapter, the liquidator shall apply to the court for discharge. The court may grant the discharge and make any other orders, including an order to transfer any remaining funds that are uneconomic to distribute, as may be deemed appropriate.

(b) Any other person may apply to the court at any time for an order under subsection (a) of this section. If the application is denied, the applicant shall pay the costs and expenses of the liquidator in resisting the application, including a reasonable attorney’s fee.

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.