reglab/housing_qa huggingface dataset:
RI Gen L § 27-14.3-34 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-14.3 - Insurers' Rehabilitation and Liquidation Act|Section 27-14.3-34 - Setoffs.

§ 27-14.3-34. Setoffs.(a) Mutual debts or mutual credits, whether arising out of one or more contracts between the insurer and another person in connection with any action or proceeding under this chapter, shall be set off and the balance only shall be allowed or paid, except as provided in subsection (b) of this section and § 27-14.3-37.(b) No setoff shall be allowed in favor of any person where:(1) The obligation of the insurer to the person would not at the date of the filing of a petition for liquidation entitle the person to share as a claimant in the assets of the insurer;(2) The obligation of the insurer to the person was purchased by or transferred to the person with a view to its being used as a setoff;(3) The obligation of the insurer is owed to an affiliate of the person, or any other entity or association other than the person;(4) The obligation of the person is owed to an affiliate of the insurer, or any other entity or association other than the insurer;(5) The obligation of the person is to pay an assessment levied against the members or subscribers of the insurer, or is to pay a balance upon a subscription to the capital stock of the insurer, or is in any other way in the nature of a capital contribution; or(6) The obligations between the person and the insurer arise from business where either the person or the insurer has assumed risks and obligations from the other party and then has ceded back to that party substantially the same risks and obligations.History of Section.P.L. 1993, ch. 248, § 1.
RI Gen L § 27-14.3-35 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-14.3 - Insurers' Rehabilitation and Liquidation Act|Section 27-14.3-35 - Assessments.

§ 27-14.3-35. Assessments.(a) As soon as practicable but not more than two (2) years from the date of an order of liquidation under § 27-14.3-22 of an insurer issuing assessable policies, the liquidator shall make a report to the court setting forth:(1) The reasonable value of the assets of the insurer;(2) The insurer's probable total liabilities;(3) The probable aggregate amount of the assessment necessary to pay all claims of creditors and expenses in full, including expenses of administration and costs of collecting the assessment; and(4) A recommendation as to whether or not an assessment should be made and in what amount.(b) (1) Upon the basis of the report provided in subsection (a) of this section, including any supplements and amendments to the report, the superior court for the county of Providence may levy one or more assessments against all members of the insurer who are subject to assessment;(2) Subject to any applicable legal limits on assessability, the aggregate assessment shall be for the amount that the sum of the probable liabilities, the expenses of administration, and the estimated cost of collection of the assessment exceeds the value of existing assets, with due regard being given to assessments that cannot be collected economically.(c) After levy of assessment under subsection (b) of this section, the liquidator shall issue an order directing each member who has not paid the assessment pursuant to the order to show cause why the liquidator should not pursue a judgment for payment.(d) The liquidator shall give notice of the order to show cause by publication and by first class mail to each member liable pursuant to the order mailed to his or her last known address as it appears on the insurer's records, at least twenty (20) days before the return day of the order to show cause.(e) (1) If a member does not appear and serve duly verified objections upon the liquidator on or before the return day of the order to show cause under subsection (c) of this section, the court shall make an order adjudging the member liable for the amount of the assessment against him or her pursuant to subsection (c) of this section together with costs, and the liquidator shall have a judgment against the member for the amount;(2) If on or before the return day, the member appears and serves duly verified objection upon the liquidator, the commissioner may hear and determine the matter or may appoint a referee to hear it and make an order as the facts warrant. In the event that the commissioner determines that the objections do not warrant relief from assessment, the member may request the court to review the matter and vacate the order to show cause.(f) The liquidator may enforce any order or collect any judgment under subsection (e) of this section by any lawful means.History of Section.P.L. 1993, ch. 248, § 1.
RI Gen L § 27-14.3-36 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-14.3 - Insurers' Rehabilitation and Liquidation Act|Section 27-14.3-36 - Reinsurer's liability.

§ 27-14.3-36. Reinsurer's liability.The amount recoverable by the liquidator from reinsurance shall not be reduced as a result of the delinquency proceedings, regardless of any provision in the reinsurance contract or other agreement. Payment made directly to an insured or other creditor shall not diminish the reinsurer's obligation to the insurer's estate except when the reinsurance contract provided for direct coverage of a named insured and the payment was made in discharge of that obligation.History of Section.P.L. 1993, ch. 248, § 1.
RI Gen L § 27-14.3-37 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-14.3 - Insurers' Rehabilitation and Liquidation Act|Section 27-14.3-37 - Recovery of premiums owed.

§ 27-14.3-37. Recovery of premiums owed.(a) (1) An agent or insurance producer, broker, premium finance company, or any other person, other than the insured, responsible for the payment of a premium shall be obligated to pay any collected earned premiums and any unearned commissions due the insurer at the time of the declaration of insolvency as shown on the records of the insurer. The agent or insurance producer, broker, solicitor or other person responsible for the payment of a premium shall remit unearned premiums in his or her possession to the insured who paid them, or with the written approval of the insured, purchase new coverage for the insured with a different insurer. Credits or setoffs or both shall not be allowed to an agent or insurance producer, broker or premium finance company for any amounts advanced to the insurer by the agent or insurance producer, broker, or premium finance company on behalf of, but in the absence of a payment by, the insured;(2) An insured shall be obligated to pay any unpaid earned premium due the insurer at the time of the declaration of insolvency, as shown on the records of the insurer.(b) Upon satisfactory evidence of a violation of this section, the commissioner may pursue either one or both of the following courses of action:(1) Suspend or revoke or refuse to renew the licenses of the offending party or parties; and/or(2) Impose a penalty of not more than one thousand dollars ($1,000) for each and every act in violation of this section by the party or parties.(c) Before the commissioner shall take any action as set forth in subsection (b) of this section, he or she shall give written notice to the person, company, association, or exchange accused of violating the law, stating specifically the nature of the alleged violation and fixing a time and place, at least ten (10) days after this, when a hearing on the matter shall be held. After the hearing, or upon the failure of the accused to appear at the hearing, the commissioner, if he or she shall find a violation, shall impose any of the penalties under subsection (b) of this section as he or she deems advisable.(d) When the commissioner shall take action in any or all of the ways set out in subsection (b) of this section, the party aggrieved may appeal from the action to the superior court for the county of Providence.History of Section.P.L. 1993, ch. 248, § 1.
RI Gen L § 27-14.3-39 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-14.3 - Insurers' Rehabilitation and Liquidation Act|Section 27-14.3-39 - Filing of claims.

§ 27-14.3-39. Filing of claims.(a) Proof of all claims shall be filed with the liquidator in the form required by § 27-14.3-40 on or before the last day for filing specified in the notice required under § 27-14.3-26, except that proof of claims for cash surrender values or other investment values in life insurance and annuities need not be filed unless the liquidator expressly so requires this. Provided, however, only upon the application of the liquidator, the court may allow alternative procedures and requirements for the filing of proofs of claim or for allowing or proving claims. Upon application, if the court dispenses with the requirements of filing a proof of claim by a person, class, or group of persons, a proof of claim for such persons shall be deemed as having been filed for all purposes, including the application of guaranty association or foreign guaranty association laws.(b) The liquidator may permit a claimant making a late filing to share in distributions, whether past or future, as if the claimant were not late, to the extent that the payment will not prejudice the orderly administration of the liquidation, under the following circumstances:(1) The existence of the claim was not known to the claimant and that the claimant filed the claim as promptly thereafter as reasonably possible after learning of it;(2) A transfer to a creditor was avoided under §§ 27-14.3-30 — 27-14.3-32, or was voluntarily surrendered under § 27-14.3-33, and that the filing satisfies the conditions of § 27-14.3-33; and(3) The valuation under § 27-14.3-45 of security held by a secured creditor shows a deficiency, which is filed within thirty (30) days after the valuation.(c) The liquidator may consider any claim filed late which is not covered by subsection (b) and permit it to receive distributions which are subsequently declared on any claims of the same or lower priority if the payment does not prejudice the orderly administration of the liquidation. The late filing claimant shall receive, at each distribution, the same percentage of the amount allowed on the claim as is then being paid to claimants of any lower priority. This shall continue until the claim has been paid in full.History of Section.P.L. 1993, ch. 248, § 1; P.L. 2003, ch. 396, § 1.
RI Gen L § 27-14.3-40 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-14.3 - Insurers' Rehabilitation and Liquidation Act|Section 27-14.3-40 - Proof of claim.

§ 27-14.3-40. Proof of claim.(a) Proof of claim shall consist of a statement signed by the claimant that includes all of the following that are applicable:(1) The particulars of the claim including the consideration given for it;(2) The identity and amount of the security on the claim;(3) The payments made on the debt, if any;(4) That the sum claimed is justly owing and that there is no setoff, counterclaim, or defense to the claim;(5) Any right of priority of payment or other specific right asserted by the claimants;(6) A copy of the written instrument which is the foundation of the claim;(7) The name and address of the claimant and the attorney who represents the claimant, if any; and(8) The social security or federal employer identification number of the claimant.(b) No claim need be considered or allowed if it does not contain all the information in subsection (a) which may be applicable. The liquidator may require that a prescribed form be used, and may require that other information and documents be included.(c) At any time the liquidator may request the claimant to present information or evidence supplementary to that required under subsection (a) and may take testimony under oath, require production of affidavits or depositions, or otherwise obtain additional information or evidence.(d) No judgment or order against an insured or the insurer entered after the date of filing of a successful petition for liquidation, and no judgment or order against an insured or the insurer entered at any time by default or by collusion need be considered as evidence of liability or of quantum of damages. No judgment or order against an insured or the insurer entered within four (4) months before the filing of the petition needs to be considered as evidence of liability or of the quantum of damages.(e) A guaranty association shall be permitted to file a single omnibus proof of claim for all claims of the association in connection with payment of claims of the insolvent insurer. The omnibus proof of claim may be periodically updated by the association, and the association may be required to submit a reasonable amount of documentation in support of the claim.History of Section.P.L. 1993, ch. 248, § 1; P.L. 2003, ch. 396, § 1.
RI Gen L § 27-14.3-41 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-14.3 - Insurers' Rehabilitation and Liquidation Act|Section 27-14.3-41 - Special claims.

§ 27-14.3-41. Special claims.(a) The claim of a third party which is contingent only on his or her first obtaining a judgment against the insured shall be considered and allowed as if there were no contingency.(b) A claim may be allowed even if contingent if it is filed in accordance with § 27-14.3-39. It may be allowed and may participate in all distributions declared after it is filed to the extent that it does not prejudice the orderly administration of the liquidation.(c) Claims that are due except for the passage of time shall be treated as absolute claims are treated, except that the claims may be discounted at the legal rate of interest.(d) Claims made under employment contracts by directors, principal officers, or persons in fact performing similar functions or having similar powers are limited to payment for services rendered prior to the issuance of any order of rehabilitation or liquidation under § 27-14.3-17 or 27-14.3-22.History of Section.P.L. 1993, ch. 248, § 1.
RI Gen L § 27-14.3-42 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-14.3 - Insurers' Rehabilitation and Liquidation Act|Section 27-14.3-42 - Special provisions for third party claims.

§ 27-14.3-42. Special provisions for third party claims.(a) Whenever any third party asserts a cause of action against an insured of an insurer in liquidation, the third party may file a claim with the liquidator.(b) Whether or not the third party files a claim, the insured may file a claim on his or her own behalf in the liquidation. If the insured fails to file a claim by the date for filing claims specified in the order of liquidation or within sixty (60) days after the mailing of the notice required by § 27-14.3-26, whichever is later, he or she is an unexcused late filer.(c) The liquidator shall make his or her recommendations to the court under § 27-14.3-46 for the allowance of an insured's claim under subsection (b) of this section after consideration of the probable outcome of any pending action against the insured on which the claim is based, the probable damages recoverable in the action, and the probable costs and expenses of defense. After allowance by the court, the liquidator shall withhold any dividends payable on the claim, pending the outcome of litigation and negotiation with the insured. Whenever it seems appropriate, he or she shall reconsider the claim on the basis of additional information and amend his or her recommendations to the court. The insured shall be afforded the same notice and opportunity to be heard on all changes in the recommendation as in its initial determination. The court may amend its allowance as it thinks appropriate. As claims against the insured are settled or barred, the insured shall be paid from the amount withheld the same percentage dividend as was paid on other claims of similar property, based on the lesser of: (1) the amount actually recovered from the insured by action or paid by agreement plus the reasonable costs and expense of defense, or (2) the amount allowed on the claims by the court. After all claims are settled or barred, any sum remaining from the amount withheld shall revert to the undistributed assets of the insurer. Delay in final payment under this subsection shall not be a reason for unreasonable delay of the final distribution and discharge of the liquidator.(d) If several claims founded upon one policy are filed, whether by third parties or as claims by the insured under this section, and the aggregate allowed amount of the claims to which the same limit of liability in the policy is applicable exceeds that limit, each claim as allowed shall be reduced in the same proportion so that the total equals the policy limit. Claims by the insured shall be evaluated as in subsection (c) of this section. If any insured's claim is subsequently reduced under subsection (c) of this section, the freed amount shall be apportioned ratably among the claims which have been reduced under this subsection.(e) No claim may be presented under this section if it is or may be covered by any guaranty association or foreign guaranty association.History of Section.P.L. 1993, ch. 248, § 1.
RI Gen L § 27-14.3-43 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-14.3 - Insurers' Rehabilitation and Liquidation Act|Section 27-14.3-43 - Disputed claims.

§ 27-14.3-43. Disputed claims.(a) When a claim is denied in whole or in part by the liquidator, written notice of the determination shall be given to the claimant or his or her attorney by first class mail at the address shown in the proof of claim. Within sixty (60) days from the mailing of the notice, the claimant may file his or her objection with the liquidator. If no filing is made, the claimant may not further object to the determination.(b) Whenever objections are filed with the liquidator and the liquidator does not alter his or her denial of the claim as a result of the objections, the claimant shall petition for relief from any injunction in effect against the insurer and ask the court for a hearing as soon as practicable and give notice of the hearing by first class mail to the liquidator or his or her attorney and to any other persons directly affected, not less than ten (10) nor more than thirty (30) days before the date of the hearing. The matter may be heard by the court or by a court-appointed referee who shall submit findings of fact along with his or her recommendation.History of Section.P.L. 1993, ch. 248, § 1.
RI Gen L § 27-14.3-44 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-14.3 - Insurers' Rehabilitation and Liquidation Act|Section 27-14.3-44 - Claims of surety.

§ 27-14.3-44. Claims of surety.Whenever a creditor, whose claim against an insurer is secured, in whole or in part, by the undertaking of another person, fails to prove and file that claim the other person may do so in the creditor's name, and shall be subrogated to the rights of the creditor, whether the claim has been filed by the creditor or by the other person in the creditor's name, to the extent that he or she discharges the undertaking. In the absence of an agreement with the creditor to the contrary, the other person shall not be entitled to any distribution until the amount paid to the creditor on the undertaking plus the distributions paid on the claim from the insurer's estate to the creditor equals the amount of the entire claim of the creditor. Any excess received by the creditor shall be held by him or her in trust for the other person. The term "other person" as used in this section is not intended to apply to a guaranty association or foreign guaranty association.History of Section.P.L. 1993, ch. 248, § 1.
RI Gen L § 27-14.3-45 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-14.3 - Insurers' Rehabilitation and Liquidation Act|Section 27-14.3-45 - Secured creditor's claims.

§ 27-14.3-45. Secured creditor's claims.(a) The value of any security held by a secured creditor shall be determined in one of the following ways, as the court may direct:(1) By converting the security into money according to the terms of the agreement pursuant to which the security was delivered to the creditors; or(2) By agreement, arbitration, compromise, or litigation between the creditor and the liquidator.(b) The determination shall be under the supervision and control of the court with due regard for the recommendation of the liquidator. The determined amount shall be credited upon the secured claim, and any deficiency shall be treated as an unsecured claim. If the claimant shall surrender his or her security to the liquidator, the entire claim shall be allowed as if unsecured.History of Section.P.L. 1993, ch. 248, § 1.
RI Gen L § 27-14.3-46.1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-14.3 - Insurers' Rehabilitation and Liquidation Act|Section 27-14.3-46.1 - Insurer assessments.

§ 27-14.3-46.1. Insurer assessments.Notwithstanding language to the contrary in this or any other title of the general laws, an insurer that is subject to an order of liquidation pursuant to this chapter shall not be subject to any assessment or fee imposed pursuant to any section of the general laws. Notwithstanding this provision, the amount of any assessment or fee may be assumed and redistributed among all other insurers subject to the assessment or fee. This section shall only apply to those assessments and/or fees, which are first billed on or subsequent to the date of any order of liquidation. For purposes of this section the terms "assessment" and "fee" shall not include taxes defined in any title of the general laws.History of Section.P.L. 2001, ch. 122, § 9.
RI Gen L § 27-14.3-47 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-14.3 - Insurers' Rehabilitation and Liquidation Act|Section 27-14.3-47 - Liquidator's recommendations to the court.

§ 27-14.3-47. Liquidator's recommendations to the court.(a) The liquidator shall review all claims duly filed in the liquidation and shall make any further investigation as he or she shall deem necessary. He or she may compound, compromise, or in any other manner negotiate the amount for which claims will be recommended to the court except where the liquidator is required by law to accept claims as settled by any person or organization, including any guaranty association or foreign guaranty association. Unresolved disputes shall be determined under § 27-14.3-43. As soon as practicable, he or she shall present to the court a report of the claims against the insurer with his or her recommendations. The report shall include the name and address of each claimant and the amount of the claim finally recommended, if any. If the insurer has issued annuities or life insurance policies, the liquidator shall report the persons to whom, according to the records of the insurer, amounts are owed as cash surrender values or other investment value and the amounts owed.(b) The court may approve, disapprove, or modify the report on claims by the liquidator. Those reports not modified by the court within a period of sixty (60) days following submission by the liquidator shall be treated by the liquidator as allowed claims, subject after this to later modification or to rulings made by the court pursuant to § 27-14.3-43. No claim under a policy of insurance shall be allowed for an amount in excess of the applicable policy limits.History of Section.P.L. 1993, ch. 248, § 1.
RI Gen L § 27-14.3-48 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-14.3 - Insurers' Rehabilitation and Liquidation Act|Section 27-14.3-48 - Distribution of assets.

§ 27-14.3-48. Distribution of assets.Under the direction of the court, the liquidator shall pay distributions in a manner that will assure the proper recognition of priorities and a reasonable balance between the expeditious completion of the liquidation and the protection of unliquidated and undetermined claims, including third party claims. Distribution of assets in kind may be made at valuations set by agreement between the liquidator and the creditor and approved by the court.History of Section.P.L. 1993, ch. 248, § 1.