reglab/housing_qa huggingface dataset:
RI Gen L § 27-46-3 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-46 - Risk Retention Act|Section 27-46-3 - Risk retention groups chartered in this state.

§ 27-46-3. Risk retention groups chartered in this state.(a) A risk retention group shall be, pursuant to the provisions of this title, chartered and licensed to write only liability insurance pursuant to this chapter and, except as provided in this chapter, must comply with all of the laws, rules, regulations, and requirements applicable to the insurers chartered and licensed in this state and with § 27-46-4 to the extent those requirements are not a limitation on laws, rules, regulations, or requirements of this state.(b) Before it may offer insurance in any state, each risk retention group shall also submit for approval to the insurance commissioner of this state a plan of operation or feasibility study. The risk retention group shall submit an appropriate revision in the event of any subsequent material change in any item of the plan of operation or feasibility study, within ten (10) days of any change. The group shall not offer any additional kinds of liability insurance, in this state or in any other state, until a revision of the plan or study is approved by the commissioner.(c) At the time of filing its application for a charter, the risk retention group shall provide to the commissioner in summary form the following information: the identity of the initial members of the group, the identity of those individuals who organized the group or who will provide administrative services or influence or control the activities of the group, the amount and nature of initial capitalization, the coverage to be afforded, and the states in which the group intends to operate. Upon receipt of this information, the commissioner shall forward the information to the National Association of Insurance Commissioners. Providing notification to the National Association of Insurance Commissioners is in addition to and shall not be sufficient to satisfy the requirements of § 27-46-4 or any other sections of this chapter.History of Section.P.L. 1991, ch. 348, § 1.
RI Gen L § 27-46-5 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-46 - Risk Retention Act|Section 27-46-5 - Compulsory associations.

§ 27-46-5. Compulsory associations.(a) No risk retention group shall be required or permitted to join or contribute financially to any insurance insolvency fund, or similar mechanism, in this state, nor shall any risk retention group, or its insured or claimants against its insureds, receive any benefit from any such fund for claims arising under the insurance policies issued by the risk retention group.(b) When a purchasing group obtains insurance covering its members' risks from an insurer not authorized or licensed in this state or a risk retention group, none of these risks, wherever resident or located, shall be covered by an insurance insolvency fund or similar mechanism in this state.(c) When a purchasing group obtains insurance covering its members' risks from a member insurer of the Rhode Island insurance insolvency fund only those risks as are subject to the insolvency fund shall be covered by the insolvency fund.History of Section.P.L. 1991, ch. 348, § 1.
RI Gen L § 27-46-6 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-46 - Risk Retention Act|Section 27-46-6 - Countersignatures not required.

§ 27-46-6. Countersignatures not required.A policy of insurance issued to a risk retention group or any member of that group shall not be required to be countersigned as otherwise provided in this title.History of Section.P.L. 1991, ch. 348, § 1.
RI Gen L § 27-46-7 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-46 - Risk Retention Act|Section 27-46-7 - Purchasing groups - Exemption from certain laws.

§ 27-46-7. Purchasing groups — Exemption from certain laws.A purchasing group and its insurer or insurers shall be subject to all applicable laws of this state, except that a purchasing group and its insurer or insurers shall be exempt, in regard to liability insurance for the purchasing group, from any law that would:(1) Prohibit the establishment of a purchasing group;(2) Make it unlawful for an insurer to provide or offer to provide insurance on a basis providing, to a purchasing group or its members, advantages based on their loss and expense experience not afforded to other persons with respect to rates, policy forms, coverage or other matters;(3) Prohibit a purchasing group or its members from purchasing insurance on a group basis described in subdivision (2) of this section;(4) Prohibit a purchasing group from obtaining insurance on a group basis because the group has not been in existence for a minimum period of time or because any member has not belonged to the group for a minimum period of time;(5) Require that a purchasing group must have a minimum number of members, common ownership or affiliation, or certain legal form;(6) Require that a certain percentage of a purchasing group must obtain insurance on a group basis;(7) Discriminate against a purchasing group or any of its members; or(8) Require that any insurance policy issued to a purchasing group or any of its members be countersigned by an insurance agent or broker or producer residing in this state.History of Section.P.L. 1991, ch. 348, § 1.
RI Gen L § 27-46-8 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-46 - Risk Retention Act|Section 27-46-8 - Notice and registration requirements of purchasing groups.

§ 27-46-8. Notice and registration requirements of purchasing groups.(a) A purchasing group which intends to do business in this state shall, prior to doing business, furnish notice to the commissioner which shall:(1) Identify the state in which the group is domiciled;(2) Identify all other states in which the group intends to do business;(3) Specify the lines and classifications of liability insurance that the purchasing group intends to purchase;(4) Identify the insurance company or companies from which the group intends to purchase its insurance and the domicile of the company;(5) Specify the method by which, and the person or persons, if any, through whom insurance will be offered to its members whose risks are resident or located in this state;(6) Identify the principal place of business of the group; and(7) Provide any other information that may be required by the commissioner to verify that the purchasing group is qualified under § 27-46-2(10).(b) A purchasing group shall, within ten (10) days, notify the commissioner of any changes in any of the items set forth in subsection (a) of this section.(c) The purchasing group shall register with and designate the commissioner as its agent solely for the purpose of receiving service of legal documents or process, for which a filing fee shall be determined by the commissioner, except that these requirements shall not apply in the case of a purchasing group which only purchases insurance that was authorized under the federal Products Liability Risk Retention Act of 1981, 15 U.S.C. § 3901 et seq., and:(1) Which in any state of the United States:(i) Was domiciled before April 1, 1986; and(ii) Is domiciled on and after October 27, 1986;(2) Which:(i) Before October 27, 1986 purchased insurance from an insurance carrier licensed in any state; and(ii) Since October 27, 1986 purchased its insurance from an insurance carrier licensed in any state; or(3) Which was a purchasing group under the requirements of 15 U.S.C. § 3901 et seq. before October 27, 1986.(d) Each purchasing group that is required to give notice pursuant to subsection (a) shall also furnish the information that may be required by the commissioner to:(1) Verify that the entity qualifies as a purchasing group;(2) Determine where the purchasing group is located; and(3) Determine appropriate tax treatment.History of Section.P.L. 1991, ch. 348, § 1; P.L. 2002, ch. 292, § 88.
RI Gen L § 27-46-9 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-46 - Risk Retention Act|Section 27-46-9 - Restrictions on insurance purchased by purchasing groups.

§ 27-46-9. Restrictions on insurance purchased by purchasing groups.(a) A purchasing group may not purchase insurance from a risk retention group that is not chartered in a state or from an insurer not admitted in the state in which the purchasing group is located, unless the purchase is effected through a licensed agent or broker or insurance producer acting pursuant to the surplus lines laws and regulations of that state.(b) A purchasing group which obtains liability insurance from an insurer not admitted in this state or a risk retention group shall inform each of the members of the group which have a risk resident or located in this state that the risk is not protected by an insurance insolvency guaranty fund in this state, and that the risk retention group or the insurer may not be subject to all insurance laws and regulations of this state.(c) No purchasing group may purchase insurance providing for a deductible or self insured retention applicable to the group as a whole; coverage may provide for a deductible or self insured retention applicable to individual members.(d) Purchases of insurance by purchasing groups are subject to the same standards regarding aggregate limits which are applicable to all purchases of group insurance.History of Section.P.L. 1991, ch. 348, § 1.
RI Gen L § 27-46-10 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-46 - Risk Retention Act|Section 27-46-10 - Purchasing group taxation.

§ 27-46-10. Purchasing group taxation.Premium taxes and taxes on premiums paid for coverage of risks resident or located in this state by a purchasing group or any members of the purchasing groups shall be:(1) Imposed at the same rate and subject to the same interest, fines, and penalties as that applicable to premium taxes and taxes on premiums paid for similar coverage from a similar insurance source by other insured; and(2) Paid first by the insurance source, and if not by the source by the agent or broker or producer for the purchasing group, and if not by the agent or broker or producer then by the purchasing group, and if not by the purchasing group then by each of its members.History of Section.P.L. 1991, ch. 348, § 1.
RI Gen L § 27-46-11 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-46 - Risk Retention Act|Section 27-46-11 - Administrative and procedural authority regarding risk retention groups and purchasing groups.

§ 27-46-11. Administrative and procedural authority regarding risk retention groups and purchasing groups.The commissioner is authorized to make use of any of the powers established under this title and any other pertinent section of law to enforce the laws of this state not specifically preempted by 15 U.S.C. § 3901 et seq., including the commissioner's administrative authority to investigate, issue subpoena, conduct depositions and hearings, issue orders, impose penalties, and seek injunctive relief. With regard to any investigation, administrative proceedings, or litigation, the commissioner can rely on the procedural laws of this state. Any injunctive authority of the commissioner, in regard to risk retention groups, shall be restricted by the requirement that any injunction be issued by a court of competent jurisdiction.History of Section.P.L. 1991, ch. 348, § 1.
RI Gen L § 27-46-12 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-46 - Risk Retention Act|Section 27-46-12 - Duty of agents or brokers or insurance producers to obtain license.

§ 27-46-12. Duty of agents or brokers or insurance producers to obtain license.(a) Risk retention groups. No person, firm, association, or corporation shall act or aid in any manner in soliciting, negotiating, or procuring liability insurance in this state from a risk retention group unless that person, firm, association, or corporation is licensed as an insurance agent or broker or producer in accordance with applicable provisions of law.(b) (1) Purchasing groups. No person, firm, association, or corporation shall act or aid in any manner in soliciting, negotiating, or procuring liability insurance in this state for a purchasing group from an authorized insurer or a risk retention group chartered in a state unless that person, firm, association, or corporation is licensed as an insurance agent or broker or producer in accordance with applicable provisions of law;(2) No person, firm, association, or corporation shall act or aid in any manner in soliciting, negotiating, or procuring liability insurance coverage in this state for any member of a purchasing group under a purchasing group's policy unless that person, firm, association, or corporation is licensed as an insurance agent or broker or producer in accordance with applicable provisions of law;(3) No person, firm, association, or corporation shall act or aid in any manner in soliciting, negotiating, or procuring liability insurance from an insurer not authorized to do business in this state on behalf of a purchasing group located in this state unless that person, firm, association, or corporation is licensed as a surplus lines agent or excess line broker in accordance with applicable provisions of law.(c) Residency. For the purposes of acting as an agent or broker or insurance producer for a risk retention group or purchasing group pursuant to subsections (a) and (b) of this section, the requirement of residence in this state shall not apply.(d) Notice requirements. Every person, firm, association, or corporation licensed pursuant to the provisions of law relating to agents or brokers or insurance producers shall inform each prospective insured on business placed with risk retention groups or written through a purchasing group of the provisions of the notice required by § 27-46-4(7) in the case of a risk retention group and § 27-46-9(c) in the case of a purchasing group.History of Section.P.L. 1991, ch. 348, § 1.
RI Gen L § 27-46-13 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-46 - Risk Retention Act|Section 27-46-13 - Binding effect of orders issued in U.S. district court.

§ 27-46-13. Binding effect of orders issued in U.S. district court.An order issued by any district court of the United States enjoining a risk retention group from soliciting or selling insurance, or operating in any state, or in all states or in any territory or possession of the United States, upon a finding that the group is in hazardous financial or financially impaired condition, shall be enforceable in the courts of the state.History of Section.P.L. 1991, ch. 348, § 1.
RI Gen L § 27-46-14 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-46 - Risk Retention Act|Section 27-46-14 - Rules and regulations.

§ 27-46-14. Rules and regulations.The commissioner may establish and amend any rules and/or regulations relating to risk retention groups as may be necessary or desirable to carry out the provisions of this chapter.History of Section.P.L. 1991, ch. 348, § 1.
RI Gen L § 27-46-15 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-46 - Risk Retention Act|Section 27-46-15 - Severability.

§ 27-46-15. Severability.If any clause, sentence, paragraph, section, or part of this chapter or the application of this chapter to any person or circumstances shall, for any reason, be adjudged by any court of competent jurisdiction to be invalid, that judgment shall not affect, impair, or invalidate the remainder of this chapter, and the application of the chapter to other persons or circumstances, but shall be confined in its operation to the clause, sentence, paragraph, section, or part of it directly involved in the controversy in which the judgment shall have been rendered and to the person or circumstances involved.History of Section.P.L. 1991, ch. 348, § 1.
RI Gen L § 27-47-1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-47 - Criminal Sanctions for Failure to Report Impairment|Section 27-47-1 - Definitions.

§ 27-47-1. Definitions.(a) "Chief executive officer" is the person, irrespective of his or her title, designated by the board of directors or trustees of an insurer as the person charged with the responsibility of administering and implementing the insurer's policies and procedures.(b) "Commissioner" means the commissioner of insurance or the commissioner's equivalent of the state of domicile of any insurer.(c) "Impaired" is a financial situation in which the assets of an insurer are less than the sum of the insurer's minimum required capital, minimum required surplus and all liabilities as determined in accordance with the requirements for the preparation and filing of the annual statement of an insurer under chapter 12 of this title.(d) "Insurer" means any insurance company or other insurer licensed to do business in this state.History of Section.P.L. 1991, ch. 348, § 1.
RI Gen L § 27-47-2 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-47 - Criminal Sanctions for Failure to Report Impairment|Section 27-47-2 - Duty to notify.

§ 27-47-2. Duty to notify.(a) Whenever a chief executive officer of an insurer knows or has reason to know that an insurer is impaired, he or she shall notify the commissioner, in writing, of the impairment as soon as reasonably possible, but in no event later than fifteen (15) days after the chief executive officer knows or has reason to know of the impairment, and shall also notify, in writing, all of the board of directors or trustees of the insurer within the same time period.(b) Any officer, director, or trustee of an insurer shall notify the person serving as chief executive officer of the impairment of the insurer in the event the officer, director, or trustee knows or has reason to know that the insurer is impaired.History of Section.P.L. 1991, ch. 348, § 1.
RI Gen L § 27-47-3 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-47 - Criminal Sanctions for Failure to Report Impairment|Section 27-47-3 - Penalty.

§ 27-47-3. Penalty.(a) Any person who violates § 27-47-2 shall, upon conviction, be fined not more than fifty thousand dollars ($50,000) or be imprisoned for not more than one year, or both.(b) Any person who does any of the following:(1) Conceals any property belonging to an insurer;(2) Transfers or conceals in contemplation of a state insolvency proceeding his own property or property belonging to an insurer;(3) Conceals, destroys, mutilates, alters, or makes a false entry in any document which affects or related to the property of an insurer or withholds any document from a receiver, trustee, or other officer of a court entitled to its possession; or(4) Gives, obtains, or receives a thing of value for acting or forbearing to act in any court proceedings, and that act or acts results in or contributes to an insurer becoming impaired or insolvent, then that person shall be guilty of a felony and, upon conviction, be punished by imprisonment for not more than five (5) years.History of Section.P.L. 1991, ch. 348, § 1.
RI Gen L § 27-48-1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-48 - Business Transacted with Producer Controlled Property/Casualty Insurer Act|Section 27-48-1 - Short title.

§ 27-48-1. Short title.This chapter may be known as the "Business Transacted with Producer Controlled Insurer Act".History of Section.P.L. 1992, ch. 445, § 9.
RI Gen L § 27-48-2 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-48 - Business Transacted with Producer Controlled Property/Casualty Insurer Act|Section 27-48-2 - Definitions.

§ 27-48-2. Definitions.As used in this chapter:(1) "Accredited state" means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established from time to time by the National Association of Insurance Commissioners (NAIC);(2) "Control" or "controlled" has the meaning ascribed in § 27-35-1(c);(3) "Controlled insurer" means a licensed insurer which is controlled, directly or indirectly, by a producer;(4) "Controlling producer" means a producer who, directly or indirectly, controls an insurer;(5) "Director" means the director of the department of business regulation, or his or her designee;(6) "Licensed insurer" or "insurer" means any person, firm, association, or corporation duly licensed to transact a property or casualty insurance business in this state. The following, inter alia, are not licensed insurers for the purposes of this chapter:(i) All risk retention groups as defined in the Risk Retention Act, 15 U.S.C. § 3901 et seq., and chapter 46 of this title;(ii) All residual market pools and joint underwriting authorities or associations; and(iii) All captive insurers; for the purposes of this chapter, "captive insurers" means insurance companies which are owned by another organization whose exclusive purpose is to insure risks of the parent organization and affiliated companies or, in the case of groups and associations, insurance organizations owned by the insured whose exclusive purpose is to insure risks to member organizations and/or group members and their affiliates; and(7) "Producer" means an insurance broker or brokers or any other person, firm, association, or corporation, when, for any compensation, commission, or other thing of value, that person, firm, association, or corporation acts or aids in any manner in soliciting, negotiating, or procuring the making of any insurance contract on behalf of an insured other than the person, firm, association, or corporation.History of Section.P.L. 1992, ch. 445, § 9.
RI Gen L § 27-48-3 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-48 - Business Transacted with Producer Controlled Property/Casualty Insurer Act|Section 27-48-3 - Applicability.

§ 27-48-3. Applicability.This chapter shall apply to licensed insurers as defined in § 27-48-2, either domiciled in this state or domiciled in a state that is not an accredited state having in effect a substantially similar law. All provisions of chapter 35 of this title to the extent they are not superseded by this chapter shall continue to apply to all parties within holding company systems subject to this chapter.History of Section.P.L. 1992, ch. 445, § 9.
RI Gen L § 27-48-5 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-48 - Business Transacted with Producer Controlled Property/Casualty Insurer Act|Section 27-48-5 - Disclosure.

§ 27-48-5. Disclosure.The producer, prior to the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer; except that, if the business is placed through a subproducer who is not a controlling producer, the controlling producer shall retain in his or her records a signed commitment from the subproducer that the subproducer is aware of the relationship between the insurer and the producer and that the subproducer has notified or will notify the insured.History of Section.P.L. 1992, ch. 445, § 9.