Rhode Island § 27-1.2-8 § 27-1.2-8. Sanctions.

Rhode Island Statutes

§ 27-1.2-8 — § 27-1.2-8. Sanctions.

Rhode Island § 27-1.2-8

Title 27Insurance

Ch. 27-1.2Corporate Governance Annual Disclosure

This text of Rhode Island § 27-1.2-8 (§ 27-1.2-8. Sanctions.) 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 § 27-1.2-8 (2026).

Text

§ 27-1.2-8. Sanctions.
Any insurer failing, without just cause, to timely file the CGAD as required in this
            chapter shall be required, after notice and hearing, to pay a penalty of two hundred
            fifty dollars ($250) for each day's delay, to be recovered by the commissioner, and
            the penalty so recovered shall be paid into the general revenue fund of this state.
            The maximum penalty under this section is two hundred fifty thousand dollars ($250,000).
            The commissioner may reduce the penalty if the insurer demonstrates to the commissioner
            that the imposition of the penalty would constitute a financial hardship to the insurer.
         

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§ 27-1.2-8. Sanctions.

Any insurer failing, without just cause, to timely file the CGAD as required in this chapter shall be required, after notice and hearing, to pay a penalty of two hundred fifty dollars ($250) for each day's delay, to be recovered by the commissioner, and the penalty so recovered shall be paid into the general revenue fund of this state. The maximum penalty under this section is two hundred fifty thousand dollars ($250,000). The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.