Rhode Island § 27-5-21 § 27-5-21. Deposit of special reserve fund.

Rhode Island Statutes

§ 27-5-21 — § 27-5-21. Deposit of special reserve fund.

Rhode Island § 27-5-21

Title 27Insurance

Ch. 27-5Fire Insurance Policies and Reserves

This text of Rhode Island § 27-5-21 (§ 27-5-21. Deposit of special reserve fund.) 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 § 27-5-21 (2026).

Text

§ 27-5-21. Deposit of special reserve fund.
The special reserve fund shall be invested according to existing laws relating to
            investments of capital by fire insurance companies, and shall be deposited as the
            fund shall accumulate and be invested, with the insurance commissioner of the state,
            who shall permit the company depositing the fund to change deposits by substituting
            for those withdrawn others of equal amount and value, and to collect and receive the
            interest or dividends upon those securities as the interest or dividends may accrue.
            The fund shall not be regarded as any part of the assets in possession of the company,
            so as to be

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

§ 27-5-21. Deposit of special reserve fund.

The special reserve fund shall be invested according to existing laws relating to investments of capital by fire insurance companies, and shall be deposited as the fund shall accumulate and be invested, with the insurance commissioner of the state, who shall permit the company depositing the fund to change deposits by substituting for those withdrawn others of equal amount and value, and to collect and receive the interest or dividends upon those securities as the interest or dividends may accrue. The fund shall not be regarded as any part of the assets in possession of the company, so as to be or render the company liable for any claim for loss by fire or except as provided in this chapter.

Legislative History

P.L. 1907, ch. 1438, § 6; G.L. 1909, ch. 219, § 31; G.L. 1923, ch. 255, § 31; G.L. 1938, ch. 150, § 30; impl. am. P.L. 1953, ch. 3174, § 5; G.L. 1956, § 27-5-21.