State Codes and Statutes
Statutes > Rhode-island > Title-10 > Chapter-10-18 > 10-18-8SECTION 10-18-8
§ 10-18-8 Filing of the accepted plan withthe secretary of state and its effect. – (a) After the plan submitted by the receiver is approved by the court, it shallbe filed by the clerk of the court with the secretary of state withintwenty-one (21) days from the time of the original filing of the petition withthe court. The filing shall have the following effect:
(1) Except as stated in § 10-18-11(b), all subsequentcreditors shall be excluded from the plan.
(2) All prior creditors who have not been included in theplan shall be excluded from the plan unless the creditor, the receiver or thedebtor makes application to the court within ten (10) days after the filing ofthe plan with the secretary of state.
(b) All unsecured creditors excluded from the plan by forceof subsections (a)(1) and (a)(2) of this section must wait until the dismissalof these proceedings before collecting upon their claims. Secured creditors'rights are determined by §§ 10-18-10 and 10-18-11(c).
