A N A C T
RELATING TO INSURANCE - - AGENTS, BROKERS AND SOLICITORS
It is enacted by the General Assembly as follows:
SECTION 1. Section 27-3-37 of the General Laws in Chapter 27-3 entitled "Agents, Brokers, and Solicitors" is hereby repealed.
27-3-37. Motor vehicle dealers -- Exception -- Nothing in this chapter shall prohibit a motor vehicle dealer licensed under title 31 from soliciting, placing, or effecting insurance on any motor vehicle sold by the dealer whether for cash or whether the legal title to the motor vehicle is held by the dealer principally for the purpose of securing a loan of money on the unpaid installments of the purchase price thereof, or from renewing any insurance so solicited, placed, or effected.
SECTION 2. This act shall take effect upon passage.