Reciprocal Exchanges and Interinsurers

SECTION 27-17-9

§ 27-17-9. Contingent reserve.

In addition to the reserves provided for in §§ 27-17-7 and 27-17-10, there shall also be maintained at all times by the exchange, as assets, a contingent reserve in cash or securities as stated in § 27-17-7 of not less than the amount of minimum capital required of a stock insurance company incorporated under the law of any other state of the United States to do the kind or kinds of insurance which the exchange is authorized to write under § 27-17-1.

History of Section.
(P.L. 1952, ch. 3003, § 6; G.L. 1956, § 27-17-9.)