Rhode Island § 27-17-11 § 27-17-11. Advance of funds for reserves — Maintenance.

Rhode Island Statutes

§ 27-17-11 — § 27-17-11. Advance of funds for reserves — Maintenance.

Rhode Island § 27-17-11

Title 27Insurance

Ch. 27-17Reciprocal Exchanges and Interinsurers

This text of Rhode Island § 27-17-11 (§ 27-17-11. Advance of funds for reserves — Maintenance.) 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 § 27-17-11 (2026).

Text

§ 27-17-11. Advance of funds for reserves — Maintenance.
If it appears that the amount of funds required in §§ 27-17-7 — 27-17-10 has not been accumulated or maintained, then the subscribers, or the attorney for
            them, shall immediately advance any sums needed to comply with the provisions of §§ 27-17-7 — 27-17-10 and the advanced funds shall not be treated as a liability of the exchange, and the
            advances shall be repaid only out of the surplus over and above the minimum required
            by §§ 27-17-7 — 27-17-10. If the subscribers, or their attorneys for them, shall fail to advance sums necessary
            for the maintenance of the minimum reserves and surplus within thirty (30) days after

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

§ 27-17-11. Advance of funds for reserves — Maintenance.

If it appears that the amount of funds required in §§ 27-17-7 — 27-17-10 has not been accumulated or maintained, then the subscribers, or the attorney for them, shall immediately advance any sums needed to comply with the provisions of §§ 27-17-7 — 27-17-10 and the advanced funds shall not be treated as a liability of the exchange, and the advances shall be repaid only out of the surplus over and above the minimum required by §§ 27-17-7 — 27-17-10. If the subscribers, or their attorneys for them, shall fail to advance sums necessary for the maintenance of the minimum reserves and surplus within thirty (30) days after receipt of notice from the commissioner, the commissioner may revoke its license to transact business in this state.