Moore v. Rhode Island Share & Deposit Indemnity Corp.

OPINION

KELLEHER, Justice.

This controversy concerns the right of the Rhode Island Share and Deposit Indemnity Corp. (RISDIC) to insure the deposits of out-of-state financial institutions. The litigants are the Director of the Rhode Island Department of Business Regulation (director)1 and RISDIC. A Superior Court justice rejected the director’s request for a preliminary injunction and, in the declaratory-judgment facet of this controversy, ruled that RISDIC’s charter did not bar it from insuring out-of-state deposits. Thereafter a final judgment was entered, and the director instituted this…