§ 37-6-23.2. Deposit of fair market value as determined by state's reviewing appraiser.
(a) If, after the expiration of one year following the filing of the description, plat, and statement as provided in § 37-6-14, and after notice by publication as prescribed by § 37-6-16, no petition for an assessment of damages has been filed in the superior court pursuant to § 37-6-18 or otherwise, the acquiring authority may petition the superior court for one of the counties in which the land or other real property is situated or for Providence county for permission to deposit in the registry of the court a sum of money equal to the amount of appraisal of the parcel of land taken which was approved by the state's reviewing appraiser as the fair market value of the parcel or parcels of land taken and of appurtenant damages to any remainder. The sum shall be deposited in the registry of the court in a special account to accumulate for the benefit of the person or persons entitled thereto. The acquiring authority making the deposit shall take the receipt of the clerk of the superior court as evidence of his or her compliance with the order of the court. After such notice as the court shall order, the court after hearing evidence as to the approved figure of the state's reviewing appraiser, as aforesaid, shall direct the amount to be so deposited and invested. The acquiring authority shall have the right to join several parcels of land in a single petition, despite the fact that the parcels are owned by different persons, but, wherever possible, the sum deposited for each parcel owned separately or owned in common by more than one person shall be designated and recorded with the clerk of court at the time of the deposit. When any person entitled to money so deposited shall satisfy the superior court of his or her right to receive the money, the court shall cause the money to be paid over to him or her with all accumulations thereon.
(b) If a petition is filed under the provisions of § 37-6-23.1 after the deposit of a sum of money in the registry of the court has been made for the land or real property so taken in accordance with the provisions of this section, upon entry of judgment thereon, the court shall order the sum of money theretofore deposited in the registry of the court transferred to the special account provided for in § 37-6-23.1, and the acquiring authority shall thereupon deposit in the special account a sum of money equal to the difference between the sum transferred and the sum awarded by the court in its decision made under the provisions of § 37-6-23.1.
(c) Nothing in this section shall prevent or interfere with the operation of any other section of this title.
(P.L. 1970, ch. 30, § 1; P.L. 1997, ch. 326, § 160.)