Rhode Island § 19-14.6-5 § 19-14.6-5. Return premiums.

Rhode Island Statutes

§ 19-14.6-5 — § 19-14.6-5. Return premiums.

Rhode Island § 19-14.6-5

Title 19Financial institutions

Ch. 19-14.6Insurance Premium Finance Agreements

This text of Rhode Island § 19-14.6-5 (§ 19-14.6-5. Return premiums.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 19-14.6-5 (2026).

Text

§ 19-14.6-5. Return premiums.
Whenever a financed insurance contract or contracts is cancelled, the insurer shall
            return the gross unearned premium or premiums, if any, that may be due under the insurance
            contract or contracts, directly to the insurance premium finance company for the account
            of the insured, as soon as reasonably possible, but, in no event, shall the period
            for the return exceed sixty (60) days after the effective date of cancellation. In
            the event that crediting of a return premium or premiums to the account of an insured
            results in a surplus over the amount due from the insured, the insurance premium finance
            company sh

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§ 19-14.6-5. Return premiums.

Whenever a financed insurance contract or contracts is cancelled, the insurer shall return the gross unearned premium or premiums, if any, that may be due under the insurance contract or contracts, directly to the insurance premium finance company for the account of the insured, as soon as reasonably possible, but, in no event, shall the period for the return exceed sixty (60) days after the effective date of cancellation. In the event that crediting of a return premium or premiums to the account of an insured results in a surplus over the amount due from the insured, the insurance premium finance company shall refund the excess to the insured, provided that no refund shall be required if the refund amounts to less than one dollar ($1.00).