reglab/housing_qa huggingface dataset:
RI Gen L § 27-11.1-4 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-11.1 - Investments by Domestic Insurance Companies|Section 27-11.1-4 - Maximum investments in affiliated or subsidiary companies.

§ 27-11.1-4. Maximum investments in affiliated or subsidiary companies.A domestic insurance company may invest in securities of affiliated insurance companies or subsidiary insurance companies; provided, that any investment in securities of affiliated insurance companies or subsidiary insurance companies shall not exceed in the aggregate fifty percent (50%) of the domestic insurance company's surplus. A domestic insurance company may invest in securities of affiliated noninsurance companies or subsidiary noninsurance companies in amounts which do not exceed the lesser of ten percent (10%) of the insurer's assets or fifty percent (50%) of the insurer's surplus as regards policyholders; provided, that after the investments, the insurer's surplus as regards policyholders will be reasonable in relation to the insurer's outstanding liabilities and adequate to its financial needs. In no event may the aggregate investment in securities of insurance or noninsurance affiliates or subsidiary companies exceed fifty percent (50%) of the domestic insurance company's surplus.History of Section.P.L. 1984, ch. 170, § 1; P.L. 1993, ch. 180, § 32; P.L. 1994, ch. 404, § 9.
RI Gen L § 27-11.1-5 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-11.1 - Investments by Domestic Insurance Companies|Section 27-11.1-5 - Investment in collateral loans.

§ 27-11.1-5. Investment in collateral loans.A domestic insurance company may invest in collateral loans, provided, that the collateral loans invested in by the company shall not exceed in the aggregate ten percent (10%) of the domestic insurance company's admitted assets.History of Section.P.L. 1984, ch. 170, § 1; P.L. 1991, ch. 348, § 6.
RI Gen L § 27-11.1-6 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-11.1 - Investments by Domestic Insurance Companies|Section 27-11.1-6 - Applicability.

§ 27-11.1-6. Applicability.This chapter shall apply to all domestic companies issued a certificate of compliance subsequent to May 8, 1984.History of Section.P.L. 1984, ch. 170, § 1; P.L. 2002, ch. 292, § 27.
RI Gen L § 27-11.1-7 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-11.1 - Investments by Domestic Insurance Companies|Section 27-11.1-7 - Rules and regulations.

§ 27-11.1-7. Rules and regulations.The insurance commissioner may promulgate reasonable rules and regulations to carry out the purposes of this chapter.History of Section.P.L. 1991, ch. 348, § 3.
RI Gen L § 27-11.1-8 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-11.1 - Investments by Domestic Insurance Companies|Section 27-11.1-8 - Investment standards.

§ 27-11.1-8. Investment standards.(a) All domestic insurance companies and United States branches of alien insurers entered through this state shall protect the interests of insured by promoting insurer solvency and financial strength through the application of investment standards that facilitate a reasonable balance of the following objectives:(1) To preserve principal;(2) To assure reasonable diversification as to type of investment, issuer and credit quality; and(3) To allow insurers to allocate investments in a manner consistent with principles of prudent investment management to achieve an adequate return so that obligations to insured are adequately met and financial strength is sufficient to cover reasonably foreseeable contingencies.(b) All investments, including, but not limited to, those referred to in this chapter, shall be made and held in accordance with the objectives in subsection (a) subject to the limitations set forth in this chapter and in regulations promulgated pursuant to this chapter. Investments not conforming to this chapter and any regulations promulgated pursuant to this chapter shall not be considered admitted assets.History of Section.P.L. 1999, ch. 147, § 4.
RI Gen L § 27-11.2-1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-11.2 - Asset Valuation Law|Section 27-11.2-1 - Valuation of bonds.

§ 27-11.2-1. Valuation of bonds.(a) All bonds or other evidences of debt having a fixed term and rate of interest held by an insurer may, if amply secured and not in default as to principal or interest, be valued as follows:(1) If purchased at par, at the par value;(2) If purchased above or below par, on the basis of the purchase price adjusted so as to bring the value to par at maturity and so as to yield in the meantime the effective rate of interest at which the purchase was made, or in lieu of that method, according to an accepted method of valuation as is approved by the department; and(3) Purchase price shall in no case be taken at a higher figure than the actual market value at the time of purchase, plus actual brokerage, transfer, postage or express charges paid in the acquisition of the securities.(b) The department shall have full discretion in determining the method of calculating values according to the rules set forth in this section, but no method or valuation shall be inconsistent with any applicable valuation or method used by insurers in general, or any method then currently formulated or approved by the National Association of Insurance Commissioners or its successor organization.History of Section.P.L. 1992, ch. 445, § 1.
RI Gen L § 27-11.2-2 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-11.2 - Asset Valuation Law|Section 27-11.2-2 - Valuation of other securities.

§ 27-11.2-2. Valuation of other securities.(a) Securities, other than those referred to in § 27-11.2-1, held by an insurer shall be valued, in the discretion of the department, at their market value, or at their appraised value, or at prices determined by it as representing their fair market value.(b) Preferred or guaranteed stocks or shares while paying full dividends may be carried at a fixed value in lieu of market value, at the discretion of the department and in accordance with any method of valuation as it may approve.(c) Stock of a subsidiary corporation of an insurer shall not be valued at an amount in excess of its net value as based upon those assets only of the subsidiary which would be eligible under any provision of the general laws for investment of the funds of the insurer directly.(d) No valuations under this section shall be inconsistent with any applicable valuation or method then currently formulated or approved by the National Association of Insurance Commissioners or its successor organization.History of Section.P.L. 1992, ch. 445, § 1.
RI Gen L § 27-12-2 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12 - Annual Reports of Insurance Companies|Section 27-12-2 - Publication of abstracts of reports.

§ 27-12-2. Publication of abstracts of reports.The insurance commissioner shall annually publish for distribution an abstract of the statements filed in the commissioner's office by all insurance companies as required by § 27-12-1. The expense of publishing and distributing those abstracts shall be paid by the insurance companies.History of Section.G.L. 1896, ch. 182, § 16; G.L. 1909, ch. 220, § 16; P.L. 1919, ch. 1754, § 3; G.L. 1923, ch. 256, § 16; G.L. 1938, ch. 151, § 16; P.L. 1947, ch. 1822, § 1; G.L. 1956, § 27-12-2.
RI Gen L § 27-12-3 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12 - Annual Reports of Insurance Companies|Section 27-12-3 - Examination of reports - Requiring additional statements.

§ 27-12-3. Examination of reports — Requiring additional statements.(a) The insurance commissioner shall annually examine the statements and returns required to be made by the companies and insurance producers, and if, in the commissioner's opinion, any return is obscure, defective, or unsatisfactory he or she shall immediately require answers under oath, from the insurance producer or company by whom that obscure, defective, or unsatisfactory return has been made, to any interrogatories as he or she may deem necessary or proper to be answered in order to explain that return, and exhibit a full and accurate view of the business and resources of the company represented by the insurance producer.(b) In the event that the insurance commissioner for any reason does not examine the statements and returns required to be made by insurance companies as stated in subsection (a), the examination shall be deemed to have been made for all purposes upon the following conditions:(1) The examination has not been conducted for a period of two (2) consecutive calendar years;(2) The company has filed its financial statements for each of the two (2) years which financial statements have been examined by an independent certified public accountant and shall have been prepared in accordance with generally accepted accounting principles applicable to insurance companies for complete financial statements, including balance sheets and related statements of income, changes in surplus, and changes in financial position for each of the previous three (3) years;(3) The chief executive officer or the chief financial officer of the company shall affirm that the filed financial statements are complete and accurate; and(4) The insurance commissioner shall not reject any filing within sixty (60) days of the date of the filing as being incomplete, inaccurate, or requiring further information in order to provide a full and accurate review of the business and resources of the company.History of Section.G.L. 1896, ch. 182, § 19; G.L. 1909, ch. 220, § 19; G.L. 1923, ch. 256, § 19; G.L. 1938, ch. 151, § 19; impl. am. P.L. 1953, ch. 3174, § 5; G.L. 1956, § 27-12-3; P.L. 1988, ch. 70 § 1.
RI Gen L § 27-12-4 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12 - Annual Reports of Insurance Companies|Section 27-12-4 - Penalty for refusal to answer interrogatories.

§ 27-12-4. Penalty for refusal to answer interrogatories.Every insurance producer who shall refuse or neglect to answer any interrogatories required under § 27-12-3 for the space of thirty (30) days, and continues to act as an insurance producer, shall be liable to the penalty prescribed in § 27-2.4-14.History of Section.G.L. 1896, ch. 182, § 20; G.L. 1909, ch. 220, § 20; G.L. 1923, ch. 256, § 20; G.L. 1938, ch. 151, § 20; G.L. 1956, § 27-12-4; P.L. 1989, ch. 542, § 78; P.L. 2002, ch. 292, § 28.
RI Gen L § 27-12-5 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12 - Annual Reports of Insurance Companies|Section 27-12-5 - Abstracts printed for general assembly.

§ 27-12-5. Abstracts printed for general assembly.The insurance commissioner shall make available, by electronic means, the annual reports filed by all insurance companies licensed in the state and provide these reports to members of the general assembly upon request.History of Section.G.L. 1896, ch. 182, § 21; G.L. 1909, ch. 220, § 21; G.L. 1923, ch. 256, § 21; G.L. 1938, ch. 150, § 23; G.L. 1938, ch. 151, § 21; impl. am. P.L. 1953, ch. 3174, § 5; G.L. 1956, § 27-12-5; P.L. 2015, ch. 82, § 12; P.L. 2015, ch. 105, § 12.
RI Gen L § 27-12-6 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12 - Annual Reports of Insurance Companies|Section 27-12-6 - Rules and regulations.

§ 27-12-6. Rules and regulations.The insurance commissioner shall have the authority to promulgate rules and regulations necessary to carry out the purposes of this chapter.History of Section.P.L. 1991, ch. 348, § 4.
RI Gen L § 27-12.1-1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.1 - National Association of Insurance Commissioners (NAIC) Insurance Regulatory Information System Act|Section 27-12.1-1 - Applicability.

§ 27-12.1-1. Applicability.The provisions of this chapter shall apply to all domestic, foreign, and alien insurers who are authorized to transact business in this state. "Insurer" means any legal entity subject to state insurance regulation.History of Section.P.L. 1991, ch. 257, § 2; P.L. 1994, ch. 404, § 14.
RI Gen L § 27-12.1-2 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.1 - National Association of Insurance Commissioners (NAIC) Insurance Regulatory Information System Act|Section 27-12.1-2 - Filing requirements.

§ 27-12.1-2. Filing requirements.(a) Each domestic, foreign, and alien insurer authorized to transact insurance in this state shall annually, on or before March 1 of each year, file with the National Association of Insurance Commissioners a hard copy of its annual statement convention blank, including diskette, along with any additional filings prescribed by the commissioner for the preceding year. The information filed with the National Association of Insurance Commissioners shall be in the same format and scope as that required by the commissioner and shall include the signed jurat page and the actuarial certification. Quarterly statements on hard copy and on diskette must also be filed with the National Association of Insurance Commissioners due on or before forty-five (45) days after the quarter ending. Any amendments and addendum to the annual or quarterly statement filing subsequently filed with the commissioner shall also be filed with the National Association of Insurance Commissioners.(b) Foreign insurers domiciled in a state which has a law substantially similar to subsection (a) of this section shall be deemed in compliance with this section.(c) Provisions of this chapter shall apply to corporations organized under chapters 19, 20, 20.1, 20.2 and 20.3 of this title.History of Section.P.L. 1991, ch. 257, § 2; P.L. 1994, ch. 404, § 14; P.L. 1996, ch. 188, § 6.
RI Gen L § 27-12.1-3 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.1 - National Association of Insurance Commissioners (NAIC) Insurance Regulatory Information System Act|Section 27-12.1-3 - Immunity.

§ 27-12.1-3. Immunity.In the absence of actual malice, members of the National Association of Insurance Commissioners, their duly authorized committees, subcommittees, and task forces, their delegates, National Association of Insurance Commissioners employees, and all others charged with the responsibility of collecting, reviewing, analyzing, and disseminating the information developed from the filing of the annual and quarterly statement convention blanks shall be acting as agents of the commissioner under the authority of this chapter and shall not be subject to civil liability for libel, slander, or any other cause of action by virtue of their collection, review, and analysis or dissemination of the data and information collected from the filings required pursuant to this chapter.History of Section.P.L. 1991, ch. 257, § 2; P.L. 1994, ch. 404, § 14.
RI Gen L § 27-12.1-4 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.1 - National Association of Insurance Commissioners (NAIC) Insurance Regulatory Information System Act|Section 27-12.1-4 - Confidentiality.

§ 27-12.1-4. Confidentiality.All financial analysis ratios and examination synopses concerning insurance companies that are submitted to the department of business regulations by the National Association of Insurance Commissioners' insurance regulatory information system are confidential and may not be disclosed by the department.History of Section.P.L. 1991, ch. 257, § 2.
RI Gen L § 27-12.1-5 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.1 - National Association of Insurance Commissioners (NAIC) Insurance Regulatory Information System Act|Section 27-12.1-5 - Revocation of certificate of authority.

§ 27-12.1-5. Revocation of certificate of authority.The commissioner may suspend, revoke, or refuse to renew the certificate of authority of any insurer failing to file its annual or quarterly statement when due or within any extension of time which the commissioner, for good cause, may have granted. The commissioner may exempt diskette filings from domestic insurers that operate only in Rhode Island.History of Section.P.L. 1991, ch. 257, § 2; P.L. 1994, ch. 404, § 14.
RI Gen L § 27-12.2-1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.2 - Administrative Supervision Act|Section 27-12.2-1 - Repealed.

§ 27-12.2-1. Repealed.History of Section.P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
RI Gen L § 27-12.2-2 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.2 - Administrative Supervision Act|Section 27-12.2-2 - Repealed.

§ 27-12.2-2. Repealed.History of Section.P.L. 1991, ch. 257, § 3; P.L. 1999, ch. 22, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
RI Gen L § 27-12.2-3 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.2 - Administrative Supervision Act|Section 27-12.2-3 - Repealed.

§ 27-12.2-3. Repealed.History of Section.P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
RI Gen L § 27-12.2-4 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.2 - Administrative Supervision Act|Section 27-12.2-4 - Repealed.

§ 27-12.2-4. Repealed.History of Section.P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
RI Gen L § 27-12.2-5 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.2 - Administrative Supervision Act|Section 27-12.2-5 - Repealed.

§ 27-12.2-5. Repealed.History of Section.P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
RI Gen L § 27-12.2-6 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.2 - Administrative Supervision Act|Section 27-12.2-6 - Repealed.

§ 27-12.2-6. Repealed.History of Section.P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
RI Gen L § 27-12.2-7 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.2 - Administrative Supervision Act|Section 27-12.2-7 - Repealed.

§ 27-12.2-7. Repealed.History of Section.P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
RI Gen L § 27-12.2-8 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.2 - Administrative Supervision Act|Section 27-12.2-8 - Repealed.

§ 27-12.2-8. Repealed.History of Section.P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
RI Gen L § 27-12.2-9 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.2 - Administrative Supervision Act|Section 27-12.2-9 - Repealed.

§ 27-12.2-9. Repealed.History of Section.P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
RI Gen L § 27-12.2-10 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.2 - Administrative Supervision Act|Section 27-12.2-10 - Repealed.

§ 27-12.2-10. Repealed.History of Section.P.L. 1991, ch. 257, § 3; Repealed by P.L. 2011, ch. 157, § 4, effective June 30, 2011; P.L. 2011, ch. 275, § 4, effective July 12, 2011.
RI Gen L § 27-12.3-1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.3 - Property and Casualty Actuarial Opinion Law|Section 27-12.3-1 - Title.

§ 27-12.3-1. Title.This act shall be known as the "Property and Casualty Actuarial Opinion Law."History of Section.P.L. 2008, ch. 28, § 1; P.L. 2008, ch. 31, § 1.
RI Gen L § 27-12.3-2 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-12.3 - Property and Casualty Actuarial Opinion Law|Section 27-12.3-2 - Actuarial opinion of reserves and supporting documentation.

§ 27-12.3-2. Actuarial opinion of reserves and supporting documentation.(a) Statement of actuarial opinion. Every property and casualty insurance company doing business in this state, unless otherwise exempted by the domiciliary commissioner, shall annually submit the opinion of an appointed actuary entitled "Statement of Actuarial Opinion." This opinion shall be filed in accordance with the appropriate national association of insurance commissioners property and casualty annual statement instructions.(b) (1) Actuarial opinion summary. Every property and casualty insurance company domiciled in this state that is required to submit a statement of actuarial opinion shall annually submit an actuarial opinion summary, written by the company's appointed actuary. This actuarial opinion summary shall be filed in accordance with the appropriate national association of insurance commissioner's property and casualty annual statement instructions and shall be considered as a document supporting the actuarial opinion required in subsection (a).(2) A company licensed but not domiciled in this state shall provide the actuarial opinion summary upon request.(c) (1) Actuarial report and work papers. An actuarial report and underlying work papers as required by the appropriate national association of insurance commissioners property and casualty annual statement instructions shall be prepared to support each actuarial opinion.(2) If the insurance company fails to provide a supporting actuarial report and/or work papers at the request of the commissioner or the commissioner determines that the supporting actuarial report or work papers provided by the insurance company is otherwise unacceptable to the commissioner, the commissioner may engage a qualified actuary at the expense of the company to review the opinion and the basis for the opinion and prepare the supporting actuarial report or work papers.(d) The appointed actuary shall not be liable for damages to any person (other than the insurance company and the commissioner) for any act, error, omission, decision or conduct with respect to the actuary's opinion, except in cases of fraud or willful misconduct on the part of the appointed actuary.History of Section.P.L. 2008, ch. 28, § 1; P.L. 2008, ch. 31, § 1.