Rhode Island § 27-32-6 § 27-32-6. Prerequisites to delivery of contract — Qualification of company.

Rhode Island Statutes

§ 27-32-6 — § 27-32-6. Prerequisites to delivery of contract — Qualification of company.

Rhode Island § 27-32-6

Title 27Insurance

Ch. 27-32Pension, Profit Sharing, or Annuity Plans

This text of Rhode Island § 27-32-6 (§ 27-32-6. Prerequisites to delivery of contract — Qualification of company.) 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 § 27-32-6 (2026).

Text

§ 27-32-6. Prerequisites to delivery of contract — Qualification of company.
No domestic life insurance company, and no other life insurance company admitted to
            transact business in this state, shall be authorized to deliver within this state
            any agreement providing benefits in variable amounts until the company has satisfied
            the insurance commissioner that its condition or methods of operation in connection
            with the issuance of those agreements will not render its operation hazardous to the
            public or its policyholders in this state. In determining the qualification of a company
            requesting authority to deliver the contracts within this state, the in

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§ 27-32-6. Prerequisites to delivery of contract — Qualification of company.

No domestic life insurance company, and no other life insurance company admitted to transact business in this state, shall be authorized to deliver within this state any agreement providing benefits in variable amounts until the company has satisfied the insurance commissioner that its condition or methods of operation in connection with the issuance of those agreements will not render its operation hazardous to the public or its policyholders in this state. In determining the qualification of a company requesting authority to deliver the contracts within this state, the insurance commissioner shall consider, among other things:

(1) The history and financial condition of the company;

(2) The character, responsibility, and general fitness of the officers and directors of the company; and

(3) In the case of a company other than a domestic company, whether the regulation provided by the jurisdiction of its incorporation provides a degree of protection to policyholders and the public that is substantially equal to that provided by this chapter and the rules and regulations issued pursuant to this chapter.