Rhode Island § 27-17-7 § 27-17-7. Reinsurance reserve.

Rhode Island Statutes

§ 27-17-7 — § 27-17-7. Reinsurance reserve.

Rhode Island § 27-17-7

Title 27Insurance

Ch. 27-17Reciprocal Exchanges and Interinsurers

This text of Rhode Island § 27-17-7 (§ 27-17-7. Reinsurance reserve.) 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 § 27-17-7 (2026).

Text

§ 27-17-7. Reinsurance reserve.
There shall be maintained at all times by the exchange a reinsurance reserve in cash
            or securities authorized by the laws of the state in which the principal office of
            the attorney is located for the investment of similar funds of insurance companies
            doing the same kind of business, in an amount equal to fifty percent (50%) of the
            net annual premium deposits collected and credited to the accounts of subscribers
            on policies having one year or less to run and pro rata on those for longer periods
            or, in lieu of this amount, one hundred percent (100%) of the net unearned premium
            deposits collected and credited

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§ 27-17-7. Reinsurance reserve.

There shall be maintained at all times by the exchange a reinsurance reserve in cash or securities authorized by the laws of the state in which the principal office of the attorney is located for the investment of similar funds of insurance companies doing the same kind of business, in an amount equal to fifty percent (50%) of the net annual premium deposits collected and credited to the accounts of subscribers on policies having one year or less to run and pro rata on those for longer periods or, in lieu of this amount, one hundred percent (100%) of the net unearned premium deposits collected and credited to the accounts of subscribers calculated separately for each policy in force as of any given date.