Rhode Island § 27-5-24 § 27-5-24. Maintenance of surplus fund equal to reserve fund.

Rhode Island Statutes

§ 27-5-24 — § 27-5-24. Maintenance of surplus fund equal to reserve fund.

Rhode Island·Title 27 Insurance·Ch. 27-5 Fire Insurance Policies and Reserves

§ 27-5-24. Maintenance of surplus fund equal to reserve fund.
If, in consequence of the payment of losses by fires, or of the expenses of the business,
            or of the interest or dividends payable under the provisions of this chapter to stockholders,
            or from any cause, the guaranty surplus fund shall be reduced in amount below the
            amount of the special reserve fund, the directors of the corporation shall make no
            additions to the special reserve fund until the guaranty surplus fund is equal to
            the special reserve fund.
         

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§ 27-5-24. Maintenance of surplus fund equal to reserve fund.

If, in consequence of the payment of losses by fires, or of the expenses of the business, or of the interest or dividends payable under the provisions of this chapter to stockholders, or from any cause, the guaranty surplus fund shall be reduced in amount below the amount of the special reserve fund, the directors of the corporation shall make no additions to the special reserve fund until the guaranty surplus fund is equal to the special reserve fund.

Rhode Island § 27-5-24 (§ 27-5-24. Maintenance of surplus fund equal to reserve fund.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.