Rhode Island § 27-33-1 § 27-33-1. Purposes.

Rhode Island Statutes

§ 27-33-1 — § 27-33-1. Purposes.

Rhode Island § 27-33-1

Title 27Insurance

Ch. 27-33Federal Riot Reinsurance Reimbursement Fund

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Bluebook

R.I. Gen. Laws § 27-33-1 (2026).

Text

§ 27-33-1. Purposes.

The purposes of this chapter are:

(1)To make basic property insurance available to qualified applicants who have been unable to secure the insurance in the normal market, and (2) To create a fund to discharge the obligations of the state to the Secretary of the Department of Housing and Urban Development, referred to in this chapter as "the secretary,â€� under 12 U.S.C. § 1749bbb-9, referred to in this chapter as "the Act,â€� as and when those obligations shall occur, in order that insurers writing property insurance in this state may not for lack of a fund be rendered ineligible for reinsurance as provided under the Act.

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§ 27-33-1. Purposes.

The purposes of this chapter are: (1) To make basic property insurance available to qualified applicants who have been unable to secure the insurance in the normal market, and (2) To create a fund to discharge the obligations of the state to the Secretary of the Department of Housing and Urban Development, referred to in this chapter as "the secretary,â€� under 12 U.S.C. § 1749bbb-9, referred to in this chapter as "the Act,â€� as and when those obligations shall occur, in order that insurers writing property insurance in this state may not for lack of a fund be rendered ineligible for reinsurance as provided under the Act.