Rhode Island § 27-46-5 § 27-46-5. Compulsory associations.

Rhode Island Statutes

§ 27-46-5 — § 27-46-5. Compulsory associations.

Rhode Island § 27-46-5

Title 27Insurance

Ch. 27-46Risk Retention Act

This text of Rhode Island § 27-46-5 (§ 27-46-5. Compulsory associations.) 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 § 27-46-5 (2026).

Text

§ 27-46-5. Compulsory associations.
(a) No risk retention group shall be required or permitted to join or contribute financially
            to any insurance insolvency fund, or similar mechanism, in this state, nor shall any
            risk retention group, or its insureds or claimants against its insureds, receive any
            benefit from any such fund for claims arising under the insurance policies issued
            by the risk retention group.
         
(b) When a purchasing group obtains insurance covering its members' risks from an insurer
            not authorized or licensed in this state or a risk retention group, none of these
            risks, wherever resi

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§ 27-46-5. Compulsory associations.

(a) No risk retention group shall be required or permitted to join or contribute financially to any insurance insolvency fund, or similar mechanism, in this state, nor shall any risk retention group, or its insureds or claimants against its insureds, receive any benefit from any such fund for claims arising under the insurance policies issued by the risk retention group.

(b) When a purchasing group obtains insurance covering its members' risks from an insurer not authorized or licensed in this state or a risk retention group, none of these risks, wherever resident or located, shall be covered by an insurance insolvency fund or similar mechanism in this state.

(c) When a purchasing group obtains insurance covering its members' risks from a member insurer of the Rhode Island insurance insolvency fund, only those risks as are subject to the insolvency fund shall be covered by the insolvency fund.