{"data":{"id":"us-ri/r.i.-gen.-laws-10-21-12.1","jurisdiction":"us-ri","citation":"R.I. Gen. Laws § 10-21-12.1","heading":"Powers and duties of temporary non-liquidating receiver — Operating plan.","body":"(a) A temporary non-liquidating receiver shall:\n(1) Assist the owner in developing an operating plan in consultation;\n(2) Present the operating plan to the court for approval; and\n(3) Monitor the owner’s business operations and the owner’s compliance with the plan.\n(b) An operating plan must:\n(1) Except to the extent that a particular creditor has agreed to a different treatment of its claim:\n(i) Provide for the payment of any secured obligation of the owner on the terms of the secured obligation;\n(ii) Provide for the payment of the owner’s debts accruing or arising after the appointment of the receiver when such debts become due; and\n(iii) Provide for the payment of each of the owner’s other debts either:\n(A) In periodic installments over a term of not more than three (3) years after the court approves the plan; or\n(B) As to a particular debt, in such other manner as the owner and the creditor may agree in a record; and\n(2) Include such other measures as necessary to justify the termination of the receivership.\n(c) The court may modify the operating plan.\n(d) A temporary non-liquidating receiver may not exercise any of the powers under §§ 10-21-12(a)(1) through (4) unless:\n(1) The court directs otherwise for cause; or\n(2) The owner defaults on an approved operating plan after such notice and opportunity to cure the default as the court specifies.","path":["Title 10 Courts and Civil Procedure — Procedure in Particular Actions","Chapter 21 Rhode Island Commercial Receivership Act"],"source_url":"https://webserver.rilegislature.gov/Statutes/TITLE10/10-21/10-21-12.1.htm","current_through":"site files published 2025-08-13","vintage":"","retrieved_at":"2026-09-05T19:55:08Z","sha256":"df97ad5e1aa01176c5ba7eab6534fdc33822f6453e95b41ae68b3ae7a777d60c","source_id":"us-ri","stale":true,"prev":"us-ri/r.i.-gen.-laws-10-21-12","next":"us-ri/r.i.-gen.-laws-10-21-13"},"notice":"GroundRules: Original legal text. Not legal advice."}