Rhode Island § 19-14-34 § 19-14-34. Resident agent — Loss payee.

Rhode Island Statutes

§ 19-14-34 — § 19-14-34. Resident agent — Loss payee.

Rhode Island·Title 19 Financial institutions·Ch. 19-14 Licensed Activities

§ 19-14-34. Resident agent — Loss payee.
(a) Each licensee shall maintain a resident agent in this state who shall have authority
            to endorse insurance claim checks on behalf of  the licensee.
         
(b) A licensee that has not and will not be included as a loss payee on any insurance
            policy may be exempted from the provisions of subsection (a) of this section and §§ 5-38-26 and 27-5-3.3. An applicant that wishes to obtain an exemption must clearly state in its business
            plan that it is not a loss payee on any insurance policy and must provide the department
            with a statement that it will not be designated as a loss payee on any

Free access — add to your briefcase to read the full text and ask questions with AI

§ 19-14-34. Resident agent — Loss payee.

(a) Each licensee shall maintain a resident agent in this state who shall have authority to endorse insurance claim checks on behalf of the licensee.

(b) A licensee that has not and will not be included as a loss payee on any insurance policy may be exempted from the provisions of subsection (a) of this section and §§ 5-38-26 and 27-5-3.3. An applicant that wishes to obtain an exemption must clearly state in its business plan that it is not a loss payee on any insurance policy and must provide the department with a statement that it will not be designated as a loss payee on any insurance policy. A licensee that obtains an exemption should expect that compliance will be evaluated on examination.

Rhode Island § 19-14-34 (§ 19-14-34. Resident agent — Loss payee.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.