Title 19Financial Institutions

Title 19Financial Institutions

Chapter 12Receivership

R.I. Gen. Laws § 19-12-5

§ 19-12-5. Injunction to restrain carrying on of business.

If any financial institution or credit union appears to have exceeded its powers or failed to comply with any provisions of law, the director may apply to the superior court for the county in which that financial institution or credit union is conducting its business for an injunction to restrain the financial institution or credit union, in whole or in part, from further proceeding with its business, and the court shall have jurisdiction in equity of the application.

History of Section.P.L. 1995, ch. 82, § 50.