Rhode Island § 27-1-6 § 27-1-6. Holding of deposits — Income — Replacement.

Rhode Island Statutes

§ 27-1-6 — § 27-1-6. Holding of deposits — Income — Replacement.

Rhode Island·Title 27 Insurance·Ch. 27-1 Domestic Insurance Companies

§ 27-1-6. Holding of deposits — Income — Replacement.
The general treasurer shall hold stocks or securities deposited as security for policyholders
            in the company, but any company depositing stocks or securities shall be permitted
            to receive and to collect the interest and dividends on its securities deposited,
            and to withdraw the securities upon depositing with the general treasurer other securities
            of the same character, the market value of which at the time of the deposit shall
            equal or exceed the amount required to be deposited.
         

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§ 27-1-6. Holding of deposits — Income — Replacement.

The general treasurer shall hold stocks or securities deposited as security for policyholders in the company, but any company depositing stocks or securities shall be permitted to receive and to collect the interest and dividends on its securities deposited, and to withdraw the securities upon depositing with the general treasurer other securities of the same character, the market value of which at the time of the deposit shall equal or exceed the amount required to be deposited.

Rhode Island § 27-1-6 (§ 27-1-6. Holding of deposits — Income — Replacement.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

G.L. 1896, ch. 181, § 18; P.L. 1908, ch. 1552, § 2; G.L. 1909, ch. 219, § 18; G.L. 1923, ch. 255, § 18; G.L. 1938, ch. 150, § 17; G.L. 1956, § 27-1-6.