Reciprocal Exchanges and Interinsurers

SECTION 27-17-13

§ 27-17-13. Certificate of deposit by foreign exchange or interinsurer.

A foreign reciprocal exchange or interinsurer shall, before being authorized to do business in this state, furnish to the commissioner a certificate issued by a state treasurer or other state financial officer of the state where its principal place of business is located, that there has been deposited with him or her either in cash or securities the sum of one hundred thousand dollars ($100,000) for the benefit of all policyholders.

History of Section.
(P.L. 1952, ch. 3003, § 7; G.L. 1956, § 27-17-13.)