reglab/statecodes huggingface dataset:
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-1.1 - Credit for Reinsurance Act › Section 27-1.1-3. - Qualified United States financial institutions.

§ 27-1.1-3. Qualified United States financial institutions.
(a)
For the purposes of § 27-1.1-2(3), “qualified United States financial institution” means an institution that:
(1)
Is organized, or in the case of a U.S. office of a foreign banking organization is licensed, under the laws of the United States or any of its states;
(2)
Is regulated, supervised, and examined by United States federal or state authorities having regulatory authority over banks and trust companies; and
(3)
Has been determined by either the commissioner or the securities valuation office of the National Association of Insurance Commissioners to meet those standards of financial condition and that are considered necessary and appropriate to regulate the quality of financial institutions whose letters of credit will be acceptable to the commissioner.
(b)
“Qualified United States financial institution” means, for the purposes of those provisions of this law specifying those institutions that are eligible to act as a fiduciary of a trust, an institution that:
(1)
Is organized, or in the case of a United States branch or agency office of a foreign banking organization is licensed, under the laws of the United States or any of its states and has been granted authority to operate with fiduciary powers; and
(2)
Is regulated, supervised, and examined by federal or state authorities having regulatory authority over banks and trust companies.
History of Section.
P.L. 1991, ch. 257, § 1; P.L. 1991, ch. 348, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-1.1 - Credit for Reinsurance Act › Section 27-1.1-4. - Rules and regulations.

§ 27-1.1-4. Rules and regulations.
(a)
The commissioner may adopt reasonable rules and regulations implementing the provisions of this law.
(b)
The commissioner is further authorized to adopt rules and regulations applicable to reinsurance arrangements described in subsection (b)(1) of this section.
(1)
A regulation adopted pursuant to this section may apply only to reinsurance relating to:
(i)
Life insurance policies with guaranteed nonlevel gross premiums or guaranteed nonlevel benefits;
(ii)
Universal life insurance policies with provisions resulting in the ability of a policyholder to keep a policy in force over a secondary guarantee period;
(iii)
Variable annuities with guaranteed death or living benefits;
(iv)
Long-term-care insurance policies; or
(v)
Other life and health insurance and annuity products as to which the NAIC adopts model regulatory requirements with respect to credit for reinsurance.
(2)
A regulation adopted pursuant to subsection (b)(1)(i) or (b)(1)(ii) of this section may apply to any treaty containing:
(i)
Policies issued on or after January 1, 2015; and
(ii)
Policies issued prior to January 1, 2015, if risk pertaining to the pre-2015 policies is ceded in connection with the treaty, in whole or in part, on or after January 1, 2015.
(3)
A regulation adopted pursuant to subsection (b) of this section may require the ceding insurer, in calculating the amounts or forms of security required to be held under regulations promulgated under this authority, to use the Valuation Manual adopted by the NAIC under Section 11B(1) of the NAIC Standard Valuation Law, including all amendments adopted by the NAIC and in effect on the date as of which the calculation is made, to the extent applicable.
(4)
A regulation adopted pursuant to subsection (b) of this section shall not apply to cessions to an assuming insurer that:
(i)
Meets the conditions set forth in § 27-1.1-1(g); or
(ii)
Is certified in this state; or
(iii)
Maintains at least two hundred fifty million dollars ($250,000,000) in capital and surplus when determined in accordance with the NAIC Accounting Practices and Procedures Manual, including all amendments thereto adopted by the NAIC, excluding the impact of any permitted or prescribed practices; and is:
(A)
Licensed in at least twenty-six (26) states; or
(B)
Licensed in at least ten (10) states, and licensed or accredited in a total of at least thirty-five (35) states.
(5)
The authority to adopt regulations pursuant to subsection (b) of this section does not limit the commissioner’s general authority to adopt regulations pursuant to subsection (a) of this section.
History of Section.
P.L. 1991, ch. 257, § 1; P.L. 1991, ch. 348, § 1; P.L. 2002, ch. 292, § 6; P.L. 2017, ch. 389, § 1; P.L. 2017, ch. 434, § 1; P.L. 2021, ch. 230, § 1, effective July 8, 2021; P.L. 2021, ch. 231, § 1, effective July 8, 2021.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-1.1 - Credit for Reinsurance Act › Section 27-1.1-5. - Reinsurance agreements affected.

§ 27-1.1-5. Reinsurance agreements affected.
This chapter shall apply to all cessions after the effective date of this chapter under reinsurance agreements that have an inception, anniversary, or renewal date not less than six (6) months after the effective date of this chapter.
History of Section.
P.L. 1991, ch. 257, § 1; P.L. 1991, ch. 348, § 1; P.L. 1993, ch. 180, § 26; P.L. 2013, ch. 84, § 2; P.L. 2013, ch. 91, § 2.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-1.1 - Credit for Reinsurance Act › Section 27-1.1-6. - Repealed.

§ 27-1.1-6. Repealed.
History of Section.
P.L. 1993, ch. 180, § 27; Repealed by P.L. 2013, ch. 84, § 4, effective June 17, 2013; P.L. 2013, ch. 91, § 4, effective June 17, 2013.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-1.1 - Credit for Reinsurance Act › Section 27-1.1-7. - Repealed.

§ 27-1.1-7. Repealed.
History of Section.
P.L. 1993, ch. 180, § 27; Repealed by P.L. 2013, ch. 84, § 4, effective June 17, 2013; P.L. 2013, ch. 91, § 4, effective June 17, 2013.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-1.1 - Credit for Reinsurance Act › Section 27-1.1-9. - Asset or deduction from liability.

§ 27-1.1-9. Asset or deduction from liability.
No credit shall be allowed as an admitted asset or as a deduction from liability to any ceding company for reinsurance unless the reinsurance is payable by the assuming company on the basis of the liability of the ceding company under the contractor contracts reinsured without diminution because of the insolvency of the ceding company.
History of Section.
P.L. 2015, ch. 82, § 18; P.L. 2015, ch. 105, § 18.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-1.1 - Credit for Reinsurance Act › Section 27-1.1-10. - Payment by assuming company.

§ 27-1.1-10. Payment by assuming company.
(a)
No credit shall be allowed for reinsurance unless the reinsurance agreement provides that payments by the assuming company shall be made directly to the ceding company or to its liquidator, receiver, or statutory successor, except where the contract specifically provides direct payment of the reinsurance to the insured or a claimant on behalf of the insured in the event of the insolvency of the ceding company, or where the assuming company, with the consent of the direct insured or insureds, has assumed the policy obligations of the ceding company to the payees under the policies and in substitution for the obligations of the ceding company to the payees.
(b)
Except as provided in this section, no assuming company may pay or settle, or agree to pay or settle, any policy claim, or any portion of a claim, directly to or with a policyholder of any ceding company if an order of rehabilitation or liquidation has been entered against the ceding company.
History of Section.
P.L. 2015, ch. 82, § 18; P.L. 2015, ch. 105, § 18.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-1.2 - Corporate Governance Annual Disclosure › Section 27-1.2-1. - Purpose and scope.

§ 27-1.2-1. Purpose and scope.
(a)
The purpose of this chapter is to:
(1)
Provide the insurance commissioner a summary of an insurer or insurance group’s corporate governance structure, policies, and practices to permit the commissioner to obtain and maintain an understanding of the insurer’s corporate governance framework;
(2)
Outline the requirements for completing a corporate governance annual disclosure with the insurance commissioner; and
(3)
Provide for the confidential treatment of the corporate governance annual disclosure and related information that will contain private, confidential, and sensitive information related to an insurer or insurance group’s internal operations and proprietary and trade secret information which, if made public, could potentially cause the insurer or insurance group competitive harm or disadvantage.
(b)
Nothing in this chapter shall be construed to prescribe or impose additional corporate governance standards and internal procedures beyond that which is required under applicable state corporate and insurance laws. This chapter shall not be construed to limit the commissioner’s authority, or the rights or obligations of third parties, under chapter 13.1 of this title.
(c)
The requirements of this chapter shall apply to all insurers domiciled in this state.
History of Section.
P.L. 2016, ch. 98, § 1; P.L. 2016, ch. 107, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-1.2 - Corporate Governance Annual Disclosure › Section 27-1.2-2. - Definitions.

§ 27-1.2-2. Definitions.
As used in this chapter:
(1)
“Commissioner” means the director of the department of business regulation and any assistant to the director.
(2)
“Corporate governance annual disclosure” (CGAD) means a confidential report filed by the insurer or insurance group made as required by this chapter.
(3)
“Insurance group” means those insurers and affiliates included within an insurance holding company system as defined in chapter 35 of this title.
(4)
“Insurer” shall have the same meaning as set forth in § 27-54.1-1, except that it shall not include agencies, authorities, or instrumentalities of the United States, its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state.
(5)
“ORSA summary report” means the report filed in accordance with chapter 77 of this title.
History of Section.
P.L. 2016, ch. 98, § 1; P.L. 2016, ch. 107, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-1.2 - Corporate Governance Annual Disclosure › Section 27-1.2-4. - Rules and regulations.

§ 27-1.2-4. Rules and regulations.
The commissioner may, in accordance with the administrative procedures act, chapter 35 of title 42, issue such rules, regulations, and orders as shall be necessary to carry out the provisions of this chapter.
History of Section.
P.L. 2016, ch. 98, § 1; P.L. 2016, ch. 107, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-1.2 - Corporate Governance Annual Disclosure › Section 27-1.2-5. - Contents of corporate governance annual disclosure.

§ 27-1.2-5. Contents of corporate governance annual disclosure.
(a)
The insurer or insurance group shall have discretion over the responses to the CGAD inquiries, provided the CGAD shall contain the material information necessary to permit the commissioner to obtain an understanding of the insurer’s or group’s corporate governance structure, policies, and practices. The commissioner may request additional information that the commissioner deems material and necessary to provide the commissioner with a clear understanding of the corporate governance policies; the reporting or information system; or controls implementing those policies.
(b)
Notwithstanding subsection (a), the CGAD shall be prepared consistent with the corporate governance annual disclosure regulation adopted by the division of insurance and supporting information shall be maintained and made available upon examination or upon request of the commissioner.
History of Section.
P.L. 2016, ch. 98, § 1; P.L. 2016, ch. 107, § 1; P.L. 2017, ch. 451, § 12.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-1.2 - Corporate Governance Annual Disclosure › Section 27-1.2-8. - Sanctions.

§ 27-1.2-8. Sanctions.
Any insurer failing, without just cause, to timely file the CGAD as required in this chapter shall be required, after notice and hearing, to pay a penalty of two hundred and fifty dollars ($250) for each day’s delay, to be recovered by the commissioner, and the penalty so recovered shall be paid into the general revenue fund of this state. The maximum penalty under this section is two hundred and fifty thousand dollars ($250,000). The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.
History of Section.
P.L. 2016, ch. 98, § 1; P.L. 2016, ch. 107, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-1.2 - Corporate Governance Annual Disclosure › Section 27-1.2-9. - Severability clause.

§ 27-1.2-9. Severability clause.
If any provision of this chapter other than § 27-1.2-6, or the application thereof to any person or circumstance, is held invalid, such determination shall not affect the provisions or applications of this chapter which can be given effect without the invalid provision or application, and to that end the provisions of this chapter, with the exception of § 27-1.2-6, are severable.
History of Section.
P.L. 2016, ch. 98, § 1; P.L. 2016, ch. 107, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-1. - Compliance by foreign insurance companies required.

§ 27-2-1. Compliance by foreign insurance companies required.
No insurance company, unless incorporated by the general assembly, shall make any insurance on property within this state or contract for insurance with any party resident in this state until the insurance company shall have complied with the provisions of this chapter.
History of Section.
G.L. 1896, ch. 182, § 1; G.L. 1909, ch. 220, § 1; G.L. 1923, ch. 256, § 1; G.L. 1938, ch. 151, § 1; G.L. 1956, § 27-2-1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-1.1. - Telephone number — Toll free or collect.

§ 27-2-1.1. Telephone number — Toll free or collect.
Every insurer doing business within this state shall have a toll free telephone number or provide collect charge telephone service for use by the general public when calling the insurer from any location within the state.
History of Section.
P.L. 1987, ch. 229, § 2; P.L. 1993, ch. 180, § 3.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-2. - Applicability.

§ 27-2-2. Applicability.
The general provisions of law relating to the duties, obligations, prohibitions, or penalties which appertain to insurance companies not incorporated under the authority of this state, and defining the powers and duties of the insurance commissioner in reference to those companies, shall be and are applicable to all corporations, companies, and associations not incorporated under the authority of this state, and to all partnerships and individuals, doing, as principals or otherwise, in this state, any insurance business of any name, kind, or description.
History of Section.
G.L. 1896, ch. 182, § 2; G.L. 1909, ch. 220, § 2; G.L. 1923, ch. 256, § 2; G.L. 1938, ch. 151, § 2; impl. am. P.L. 1953, ch. 3174, § 5; G.L. 1956, § 27-2-2.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-3. - Reciprocal privileges of nonresident insurance producers.

§ 27-2-3. Reciprocal privileges of nonresident insurance producers.
(a)
Any commission received by a Rhode Island licensed resident insurance producer may be shared with another licensed resident insurance producer, or with a licensed nonresident insurance producer; provided, that if the nonresident insurance producer resides in, or is a licensed insurance producer in, a state which requires the retention of a stipulated percentage of the commission on risks placed in the state by nonresident insurance producers, then and in that event the Rhode Island resident insurance producer shall require the same percentage of the commission as would be required if a Rhode Island insurance producer should place similar insurance in the state of the residence of the nonresident insurance producer; provided, that if the nonresident insurance producer resides in a state, county, or municipality which by statute or ordinance prohibits the division of commissions on insurance covering property or risks in the city, county, or state of the nonresident insurance producer, then and in that event, it shall be unlawful for the Rhode Island resident insurance producer to pay the nonresident insurance producer any share or portion of the commission on insurance on property or risks in the state of Rhode Island.
(b)
This section shall not apply to bid bonds issued by any admitted surety insurer in connection with any public or private contract.
(c)
An insurance producer that has been a licensed nonresident insurance producer prior to June 30, 1989, for twelve (12) years or more but whose company is no longer licensed to do business in a reciprocal state after June 30, 1989, may be licensed in Rhode Island as a special nonresident insurance producer.
History of Section.
P.L. 1984, ch. 45, § 1; P.L. 1989, ch. 383, § 1; P.L. 1989, ch. 513, § 1; P.L. 1992, ch. 445, § 7.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-4. - Penalty for unlawful business.

§ 27-2-4. Penalty for unlawful business.
Any company, officer, or insurance producer violating any of the provisions of § 27-2-3 shall be punished by a fine of not less than one hundred dollars ($100) nor more than five hundred dollars ($500) for each offense.
History of Section.
G.L. 1896, ch. 182, § 7; G.L. 1909, ch. 220, § 7; G.L. 1923, ch. 256, § 7; G.L. 1938, ch. 151, § 7; G.L. 1956, § 27-2-4.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-5. - Minimum capital and surplus requirements — Maximum amount of single risk.

§ 27-2-5. Minimum capital and surplus requirements — Maximum amount of single risk.
No insurance company not incorporated under the authority of this state shall make any contract of insurance with any person in this state unless the capital stock of the company is at least equal to one million dollars ($1,000,000) and the gross paid in and contributed surplus of the company is at least equal to two million dollars ($2,000,000) or, if a mutual company, its net assets over all liabilities amount to not less than three million dollars ($3,000,000), nor unless the company, if other than a life insurance company, shall be restricted, by its charter or otherwise, so that it cannot lawfully incur in any one risk a greater hazard than one-tenth (1/10) part of its capital and surplus if a stock company or of its net assets if a mutual company; provided, that no fire, marine, or fire and marine insurance company of any foreign country shall make any contract of insurance with any person in this state unless the company has two million dollars ($2,000,000) paid-in capital stock and four million dollars ($4,000,000) surplus, or if a foreign mutual company its net assets over all liabilities amount to not less than six million dollars ($6,000,000) and shall have made a deposit with the insurance commissioner of this state, or with the proper officer of some other state of the United States, of not less than two million dollars ($2,000,000) in securities which shall be at all times at or above par and in trust for the benefit of its policyholders in the United States, or if a mono-line business company as defined in this title, has a combined capital and surplus of two million dollars ($2,000,000). Nothing contained in this section shall be construed to apply to foreign insurance companies licensed prior to May 13, 1977.
History of Section.
G.L. 1896, ch. 182, § 8; P.L. 1906, ch. 1324, § 1; G.L. 1909, ch. 220, § 8; G.L. 1923, ch. 256, § 8; G.L. 1938, ch. 151, § 8; P.L. 1953, ch. 3174, § 4; G.L. 1956, § 27-2-5; P.L. 1977, ch. 278, § 1; P.L. 1992, ch. 415, § 1; P.L. 2001, ch. 122, § 2.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-6.1. - Special deposit for benefit of policyholders.

§ 27-2-6.1. Special deposit for benefit of policyholders.
(a)
The insurance commissioner may require any insurance company, association, or society incorporated by or organized under the laws of any other state or government which seeks to make within this state any contract of insurance to make a special deposit as a condition to licensing. The special deposit shall be held in trust and on deposit for the benefit of all Rhode Island policyholders of the company, association, or society. The special deposit may be in any amount and form acceptable to the insurance commissioner. The special deposit shall be deposited with the insurance commissioner or with the general treasurer of this state.
(b)
The special deposit shall be held exclusively for the benefit of the Rhode Island policyholders and claimants of the company, notwithstanding the source of the special deposit, and in any agreement entered pursuant to this section the insurer shall grant to the director an interest in the deposit to secure all present and future obligations of the insurer to the policyholders and claimants of the insurer in the state of Rhode Island. The director’s interest shall continue until the insurer’s obligations are fully satisfied or until the deposit is released by the director.
History of Section.
P.L. 1998, ch. 71, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-7. - Charter to be filed.

§ 27-2-7. Charter to be filed.
Every insurance company not incorporated under the authority of this state shall, before making any contract of insurance with any person in this state, deposit with the insurance commissioner a copy of the charter of the company.
History of Section.
G.L. 1896, ch. 182, § 11; G.L. 1909, ch. 220, § 11; G.L. 1923, ch. 256, § 11; G.L. 1938, ch. 151, § 11; P.L. 1953, ch. 3174, § 4; G.L. 1956, § 27-2-7.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-8. - Statement as to type of company, investments, and risks.

§ 27-2-8. Statement as to type of company, investments, and risks.
Every company, before making any contract of insurance, shall deposit with the insurance commissioner a statement, signed and sworn to by the president and secretary of the company, specifying that the company is a fire, marine, or fire and marine, life, health, accident, or other insurance company, stating the amount of its capital and the manner of its investment, designating the amount invested respectively in mortgages, public securities, and in the stock of incorporated companies, stating what companies, and also the amount invested in other securities, particularizing each item of investment, the amount of marine risks not terminated and the premium paid on those risks, the amount of fire risks not terminated and the premium paid on those risks, and the amount of liabilities, specifying the amount of outstanding claims adjusted or unadjusted, due or not due. In case the company is incorporated on the mutual principle, the statement shall set forth, in addition to this information, the amount of risks insured by the company, the amount of premium on the risks, what portion of it has been paid in cash, what security has been taken for the remainder, and what is the largest sum insured in any one risk. The statement required to be made in this section, so far as applicable, shall be made of each class in companies authorized to take risks in classes, and in all cases the returns may be varied by the insurance commissioner to obtain more definite information of the company; provided, that not more than one statement needs to be filed on behalf of the company.
History of Section.
G.L. 1896, ch. 182, § 12; G.L. 1909, ch. 220, § 12; G.L. 1923, ch. 256, § 12; G.L. 1938, ch. 151, § 12; P.L. 1953, ch. 3174, § 4; G.L. 1956, § 27-2-8.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-9. - Statement as to capital, assets, and investments.

§ 27-2-9. Statement as to capital, assets, and investments.
Every life insurance company, health insurance company, livestock, or other insurance company, cooperative, or assessment, shall before making any contract of insurance, deposit with the insurance commissioner a statement signed and sworn to by the president and secretary of the company, specifying the amount of its capital and all of its assets and the manner of its investment, designating the amount invested in mortgages, public securities, and in stock of incorporated companies, stating what companies, and also the amount invested in other securities, particularizing each item of investment, the amount insured by existing policies, the amount of liabilities, specifying the amount of outstanding claims, adjusted or unadjusted, due or not due, and the largest sum insured in any one risk; provided, that no more than one statement needs to be filed on behalf of the company.
History of Section.
G.L. 1896, ch. 182, § 13; G.L. 1909, ch. 220, § 13; G.L. 1923, ch. 256, § 13; G.L. 1938, ch. 151, § 13; P.L. 1953, ch. 3174, § 4; G.L. 1956, § 27-2-9.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-10. - Filing of accident and health policy forms.

§ 27-2-10. Filing of accident and health policy forms.
Any insurance company authorized to transact an accident and health insurance business within this state in accordance with the provisions of this chapter shall file all policy forms used by it with the insurance commissioner. The commissioner may also require any company to file the forms of any rider, endorsement, application blank, and other matter generally used or incorporated by reference in its policies or contracts of insurance. Any organization, bureau, or association of which the company is a member may, on behalf of the company, make the filings required by this section. If the commissioner finds from an examination of any of these filed forms that it is contrary to the public interest, the commissioner shall forbid its use.
History of Section.
G.L. 1938, ch. 151, § 1; P.L. 1948, ch. 2134, § 1; G.L. 1956, § 27-2-10.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-11. - License required — Expiration date.

§ 27-2-11. License required — Expiration date.
No company shall transact any business of insurance in this state until it has obtained from the insurance commissioner of this state a license stating that it has complied with the laws of this state and specifying the kinds of business it is authorized to transact. The insurance commissioner may refuse to issue the license if he or she is of the opinion that the refusal will be in the public interest. Every license shall be continuous unless revoked or suspended as provided in chapter 13 of this title.
History of Section.
G.L. 1938, ch. 151, § 3; P.L. 1953, ch. 3174, § 3; G.L. 1956, § 27-2-11; P.L. 1987, ch. 289, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-12. - Review of refusal to issue or renew license.

§ 27-2-12. Review of refusal to issue or renew license.
A company aggrieved by the refusal of the insurance commissioner to issue or renew a license may within ten (10) days from the date of the refusal file a petition in superior court for the county of Providence for a review of the action, which shall be heard and determined in the same manner as is provided under chapter 13 of this title in the case of a petition filed after the revocation or suspension of a license.
History of Section.
G.L. 1938, ch. 151, § 3; P.L. 1953, ch. 3174, § 3; G.L. 1956, § 27-2-12.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-13. - Commissioner as attorney to receive process.

§ 27-2-13. Commissioner as attorney to receive process.
No insurance company not incorporated under the authority of this state shall directly or indirectly issue policies, take risks, or transact business in this state until it has first appointed, in writing, the insurance commissioner of this state to be the true and lawful attorney of the company in and for this state, upon whom all lawful process in any action or proceeding against the company may be served with the same effect as if the company existed in this state; provided, that if the insurance company shall make no appointment, the issuance or delivery of a policy or contract of insurance to, the taking of a risk for, or the transacting of business with a citizen of this state or a resident of the state or a corporation authorized to do business in this state by the company shall be equivalent to an appointment for the service of all lawful process in any action or proceeding arising out of the policy or contract. The written power of attorney shall stipulate and agree on the part of the company that any lawful process against the company which is served on the attorney shall be of the same legal force and validity as if served on the company, and that the authority shall continue in force so long as any liability remains outstanding against the company in this state. A certificate of the written appointment, duly certified and authenticated, shall be filed in the office of the insurance commissioner, and copies certified by him or her shall be received in evidence in all of the courts in this state. Service upon the attorney shall be deemed sufficient service upon the principal; service of process may also be effectuated in accordance with the procedures set forth in Rule 4 of the Rules of Civil Procedure.
History of Section.
G.L. 1896, ch. 182, § 3; G.L. 1909, ch. 220, § 3; G.L. 1923, ch. 256, § 3; G.L. 1938, ch. 151, § 3; P.L. 1940, ch. 856, § 1; P.L. 1953, ch. 3174, § 3; G.L. 1956, § 27-2-13; P.L. 1985, ch. 163, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-14. - Forwarding of process by commissioner.

§ 27-2-14. Forwarding of process by commissioner.
(a)
Whenever lawful process against a foreign insurance company shall be served upon the insurance commissioner, the commissioner shall forward a copy of the process served on him or her, to the person appointed by the insurance company to accept service of process on behalf of the company. The manner of forwarding shall be at the discretion of the insurance commissioner.
(b)
Service upon the insurance commissioner shall be accomplished by regular mail or by whatever alternative method is designated by the commissioner.
(c)
For each copy of process the insurance commissioner shall collect, for the use of the state, the sum of twenty-five dollars ($25.00), which shall be paid by the plaintiff at the time of the service; the fee is to be recovered by the plaintiff as part of the taxable costs, if he or she prevails in the suit.
History of Section.
G.L. 1896, ch. 182, § 4; G.L. 1909, ch. 220, § 4; G.L. 1923, ch. 256, § 4; G.L. 1938, ch. 151, § 4; impl. am. P.L. 1953, ch. 3174, § 5; G.L. 1956, § 27-2-14; P.L. 1960, ch. 71, art. 1, § 1; P.L. 2004, ch. 595, art. 30, § 9; P.L. 2009, ch. 303, § 1; P.L. 2009, ch. 304, § 1; P.L. 2017, ch. 196, § 1; P.L. 2017, ch. 322, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-15. - Provisions against actions in state courts.

§ 27-2-15. Provisions against actions in state courts.
If any foreign insurance company, of any name, kind, or description, authorized to do business in this state shall provide in its charter or bylaws, or in the policies or contracts of insurance issued by it, that no action shall be brought against the company in any court of competent jurisdiction within this state, the insurance commissioner shall revoke all licenses and certificates of authority granted to it or to its insurance producers to do business in this state.
History of Section.
G.L. 1896, ch. 182, § 5; G.L. 1909, ch. 220, § 5; G.L. 1923, ch. 256, § 5; G.L. 1938, ch. 151, § 5; impl. am. P.L. 1953, ch. 3174, § 5; G.L. 1956, § 27-2-15.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-16. - Filing fees — Certificates of compliance.

§ 27-2-16. Filing fees — Certificates of compliance.
(a)
Every insurance company not incorporated in this state applying for admission to transact business in the state shall pay to the insurance commissioner, for the use of the state, for filing a copy of its charter or deed of settlement, the sum of thirty dollars ($30.00), and for filing a statement preliminary to admission, and for filing each annual statement after admission payable prior to April 1 of each year, the sum of one hundred dollars ($100).
(b)
A certificate of compliance issued under this chapter shall continue in force as long as the insurer is entitled to it under this chapter and until suspended, revoked, or terminated at the request of the insurer; subject, to continuance of the certificate by the insurer each year by:
(1)
Payment prior to April 1 of an annual license fee of one hundred dollars ($100); and
(2)
Due filing by the insurer of its annual statement for the preceding calendar year as required under this section.
(c)
If not continued in this manner by the insurer, its certificate of compliance shall expire at midnight on June 1 next following the failure of the insurer to continue it in force.
(d)
The commissioner may, in his or her discretion, reinstate a certificate of compliance which the insurer has inadvertently permitted to expire, after the insurer has fully cured all its failures which resulted in the expiration, and upon payment by the insurer of the fee in the amount provided in subdivision (b)(1). Otherwise, the insurer shall be granted another certificate of compliance only after filing an application and meeting all other requirements as for an original certificate of compliance in this state.
(e)
The commissioner may amend a certificate of compliance at any time to accord with changes in the insurer’s charter or insuring powers.
(f)
The commissioner may assess a late fee of one hundred dollars ($100) per day for each day the insurer is late in filing its annual statement, and ten dollars ($10.00) per day for each day the insurer is late in remitting its annual license fee, except that the insurer may request and receive an extension of the filing date without penalty.
History of Section.
G.L. 1896, ch. 182, § 25; G.L. 1909, ch. 220, § 25; G.L. 1923, ch. 256, § 25; G.L. 1938, ch. 151, § 25; impl. am. P.L. 1953, ch. 3174, § 5; G.L. 1956, § 27-2-16; P.L. 1960, ch. 71, art. 1, § 1; P.L. 1971, ch. 283; P.L. 1979, ch. 174, art. 7, § 1; P.L. 1987, ch. 289, § 1; P.L. 1993, ch. 102, § 1; P.L. 1993, ch. 138, art. 62, § 9.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-17. - Reciprocal fees and charges.

§ 27-2-17. Reciprocal fees and charges.
(a)
Whenever, by the laws of any other state of the United States, any fees, charges, taxes, deposits of money or of securities, or other obligations or prohibitions are imposed on insurance companies incorporated or organized under the laws of this state or on the insurance producers of the insurance companies, so long as the laws continue in force, the fees, charges, taxes, deposits, and obligations shall be imposed on the insurance companies doing business in this state which are incorporated or organized under the laws of the other state and on their insurance producers.
(b)
Whenever, by the laws of any other state of the United States, insurance companies incorporated or organized under the laws of this state are required to provide a countersignature as a precondition to the issuance, delivery, or making of any contract of insurance in the other state, and whenever the insurance producer of the company is required to pay any fee or commission for placing any insurance coverage in the other state, then the same requirements for countersignatures and fee or commission shall be imposed upon the insurance companies doing business in this state which are incorporated and organized under the laws of the other states and/or their insurance producers.
(c)
Whenever insurance companies that are authorized to do business in this state issue, deliver, or make any contract of insurance on a person or property in this state, the companies shall place the business through a licensed resident insurance producer or licensed nonresident insurance producer as permitted under § 27-2-3 or any other provision of Rhode Island law; provided, if the insurance to be issued in this state is part of an insurance contract written on a risk whose principal place of business is located in another state, and the insurance contract is placed through an insurance producer of the domiciliary state of the primary insured, it shall be permitted only if that state allows the placement of the business by a licensed nonresident insurance producer of Rhode Island in similar circumstances.
(d)
The provisions of this section shall not apply to insurance companies incorporated or organized under the laws of a state or country whose laws do not impose retaliatory taxes or other charges or which grant, on a reciprocal basis, exemptions from those taxes or other charges to insurance companies incorporated or organized under the laws of this state.
History of Section.
G.L. 1896, ch. 181, § 23; G.L. 1909, ch. 219, § 23; P.L. 1914, ch. 1063, § 1; G.L. 1923, ch. 255, § 23; G.L. 1938, ch. 150, § 22; G.L. 1956, § 27-2-17; P.L. 1983, ch. 170, § 2; P.L. 1984, ch. 346, § 1; P.L. 1988, ch. 131, § 1; P.L. 1994, ch. 432, § 2.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-18. - Life insurance companies’ offices.

§ 27-2-18. Life insurance companies’ offices.
Every life insurance company doing business in this state, and whose premium income received from the inhabitants of this state in any one year shall exceed twenty-five thousand dollars ($25,000), shall equip and maintain an office in this state, satisfactory to the insurance commissioner, for the transaction of business in this state.
History of Section.
G.L. 1896, ch. 182, § 22; G.L. 1909, ch. 220, § 22; P.L. 1909, ch. 382, § 1; G.L. 1923, ch. 256, § 22; G.L. 1938, ch. 151, § 22; impl. am. P.L. 1953, ch. 3174, § 5; G.L. 1956, § 27-2-18; P.L. 2006, ch. 84, § 1; P.L. 2006, ch. 93, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-19. - Inquiries as to financial condition.

§ 27-2-19. Inquiries as to financial condition.
The insurance commissioner may inquire of any life, fire, marine, or fire and marine, or other insurance company, of any name or kind, doing business in this state, or of its secretary, in relation to its financial condition and management, and the inquiry shall be promptly answered.
History of Section.
G.L. 1896, ch. 182, § 14; G.L. 1909, ch. 220, § 14; G.L. 1923, ch. 256, § 14; G.L. 1938, ch. 151, § 14; impl. am. P.L. 1953, ch. 3174, § 5; G.L. 1956, § 27-2-19.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-20. - Validity of contracts of non-complying companies — Penalty on insurance producers — Actions by company.

§ 27-2-20. Validity of contracts of non-complying companies — Penalty on insurance producers — Actions by company.
If any insurance company, cooperative or otherwise, makes insurance without complying with the provisions of this chapter, the contract shall be valid, but every person acting within this state as an insurance producer of the company within the meaning of chapter 2.4 of this title, respecting the effecting of any insurance, shall be fined not less than three hundred dollars ($300) nor more than one thousand dollars ($1,000). No action at law or suit in equity shall be maintained or recovery had by any insurance company, cooperative or otherwise, or by any assignee of the company or by any person claiming under the assignee or the company, except a domestic receiver of the company, on any contract in any of the courts of this state, so long as the company fails to comply with the provisions of this chapter.
History of Section.
G.L. 1896, ch. 182, § 17; G.L. 1909, ch. 220, § 17; G.L. 1923, ch. 256, § 17; G.L. 1938, ch. 151, § 17; P.L. 1940, ch. 856, § 1; G.L. 1956, § 27-2-20.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-21. - Report and prosecution of violations.

§ 27-2-21. Report and prosecution of violations.
The insurance commissioner shall report to the attorney general any violation of the provisions of this chapter that shall come to his or her knowledge. The attorney general shall institute the proper legal proceedings, in the name of the state, against any person violating any provision.
History of Section.
G.L. 1896, ch. 182, § 24; G.L. 1909, ch. 220, § 24; G.L. 1923, ch. 256, § 24; G.L. 1938, ch. 151, § 24; impl. am. P.L. 1953, ch. 3174, § 5: G.L. 1956, § 27-2-21.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-22. - Companies owned or controlled in whole or in part by foreign state or government.

§ 27-2-22. Companies owned or controlled in whole or in part by foreign state or government.
No license or certificate of authority to transact any kind of insurance business in this state shall be issued, renewed, or continued in effect to any domestic, foreign, or alien insurance company or other insurance entity which is owned or financially controlled in whole or in part by another state of the United States or by a foreign government or by any political subdivision, instrumentality, or agency of either, or which is an agency or instrumentality of any state government or subdivision, unless the company or entity was owned in this way, controlled, or constituted prior to January 1, 1955, and was authorized to do business in this state on or prior to January 1, 1955.
History of Section.
R.P.L. 1957, ch. 162, § 1.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-23. - Discrimination in rates prohibited.

§ 27-2-23. Discrimination in rates prohibited.
(a)
No foreign insurance company licensed to do or doing business in this state shall make any distinction or discrimination as to the premiums or rates charged for policies of casualty, fire, home owners, accident and health, or marine insurance, nor shall any company make or permit the rejection of an individual’s application for insurance coverage, and the determination of the rate class for the individual, solely on the basis of a disability unless the disability is relevant to the risk of loss, nor shall any company make or require any rebate, diminution, or discount upon the sum to be paid on any policy based on any disability discrimination, nor insert in the policy any condition, nor make any stipulation, where the person insured shall bind himself or herself, his or her heirs, executors, administrators, and assigns, to accept any less sum than the full value or amount of the policy in case of a claim accruing on the policy by reason of the claim of the person insured, other than conditions or stipulations as are imposed upon all persons in similar cases, and any stipulation or condition made in this manner or inserted shall be void.
(b)
No foreign insurance company licensed to do or doing business in this state shall make any distinction or discrimination as to the premiums or rates charged for automobile insurance policies, nor shall the company make or permit the rejection of an individual’s application for insurance coverage, and the determination of the rate class of the individual, solely on the basis of a disability or the modification of the automobile with specialized equipment that permits an individual with a disability to operate the automobile, unless the disability or modification of the automobile is relevant to the risk of loss, nor shall any insurance company make or require any rebate, diminution, or discount upon the sum to be paid on any policy based on any disability discrimination, nor insert in the policy any condition, nor make any stipulation, where the person insured shall bind himself or herself, his or her heirs, executors, administrators, and assigns, to accept any less sum than the full value or amount of the policy in case of a claim accruing on the policy by reason of the claim of the person insured, other than conditions or stipulations as are imposed upon all persons in similar cases, and any stipulation or condition made or inserted shall be void. The department of business regulation shall enforce the provisions of this section.
History of Section.
P.L. 1981, ch. 216, § 2; P.L. 1993, ch. 127, § 2; P.L. 1993, ch. 285, § 2; P.L. 1999, ch. 83, § 61; P.L. 1999, ch. 130, § 61.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-24. - Revocation or suspension of license of foreign company.

§ 27-2-24. Revocation or suspension of license of foreign company.
Whenever it appears to the insurance commissioner from the statements, or from an examination of the affairs, of any life, fire, marine, fire and marine, casualty, or other insurance company not incorporated under the authority of this state, that the company is insolvent, or is in an unsound financial condition, or that its business policies are unsound or improper, or that its condition or management is such as to render its further transaction of business hazardous to the public or its policyholders, or that the amount of its funds, net cash, or contingent assets is deficient, or that its capital is impaired, or that it is conducting its business fraudulently or refuses or neglects to comply with the laws of the state relating to insurance companies, it shall be the duty of the insurance commissioner, after notice and hearing, to revoke the license issued to the company and the licenses issued to all of its insurance producers, or the commissioner may revoke those licenses or suspend them for a period not exceeding their unexpired terms.
History of Section.
P.L. 1992, ch. 445, § 3.
2023 Rhode Island General Laws › Title 27 - Insurance › Chapter 27-2 - Foreign Insurance Companies › Section 27-2-25. - Notice of revocation or suspension of license.

§ 27-2-25. Notice of revocation or suspension of license.
The insurance commissioner shall give written notice to the company specifying the date on which any revocation or suspension shall be effective, the term of any suspension, and the ground for the revocation or suspension; provided, that if the ground for revocation or suspension is that the company has violated any provision of law or has failed to comply with its charter, the effective date of the revocation or suspension shall be not less than ten (10) days from the date of issue of the notice, and the particulars of the violation or failure to comply with its charter shall be specified in the notice. The notice shall be served by registered or certified mail, sent postage prepaid, and addressed to the company at its last home office address, or in the case of a company of a foreign country, sent to its resident manager in the United States or at his last address appearing on the records of the insurance commissioner. An affidavit of the insurance commissioner in any form as the commissioner may prescribe, or of anyone authorized by him or her to give notice, appended to a copy of the notice, that the notice has been mailed as provided in this section shall be prima facie evidence that the notice has been duly given. The insurance commissioner shall also cause notice of the revocation or suspension to be published in any manner, as the commissioner may deem necessary for the protection of the public.
History of Section.
P.L. 1992, ch. 445, § 3; P.L. 2002, ch. 292, § 8.