Rhode Island General Laws 27-46-11. Administrative and procedural authority regarding risk retention groups and purchasing groups
The commissioner is authorized to make use of any of the powers established under this title and any other pertinent section of law to enforce the laws of this state not specifically preempted by 15 U.S.C. § 3901 et seq., including the commissioner’s administrative authority to investigate, issue subpoena, conduct depositions and hearings, issue orders, impose penalties, and seek injunctive relief. With regard to any investigation, administrative proceedings, or litigation, the commissioner can rely on the procedural laws of this state. Any injunctive authority of the commissioner, in regard to risk retention groups, shall be restricted by the requirement that any injunction be issued by a court of competent jurisdiction.
History of Section.
P.L. 1991, ch. 348, § 1.
Terms Used In Rhode Island General Laws 27-46-11
- Commissioner: means the director of the department of business regulation or the commissioner, director, or superintendent of insurance in any other state;
(2) "Completed operations liability" means liability arising out of the installation, maintenance, or repair of any product at a site which is not owned or controlled by:
(i) Any person who performs that work; or
(ii) Any person who hires an independent contractor to perform that work; but shall include liability for activities which are completed or abandoned before the date of the occurrence giving rise to the liability;
(3) "Domicile" for the purposes of determining the state in which a purchasing group is domiciled, means:
(i) For a corporation, the state in which the purchasing group is incorporated; and
(ii) For an unincorporated entity, the state of its principal place of business;
(4) "Hazardous financial condition" means that, based on its present or reasonably anticipated financial condition, a risk retention group, although not yet financially impaired or insolvent, is unlikely to be able:
(i) To meet obligations to policyholders with respect to known claims and reasonably anticipated claims; or
(ii) To pay other obligations in the normal course of business;
(5) "Insurance" means primary insurance, excess insurance, reinsurance, surplus lines insurance, and any other arrangement for shifting and distributing risk, which is determined to be insurance under the laws of this state;
(6) "Liability":
(i) Means legal liability for damages, including costs of defense, legal costs and fees, and other claims expenses, because of injuries to other persons, damage to their property, or other damage or loss to other persons resulting from or arising out of:
(A) Any business whether profit or nonprofit, trade, product, services including professional services, premises, or operations; or
(B) Any activity of any state or local government, or any agency or political subdivision of any state or local government; and
(ii) Does not include personal risk liability and an employer's liability with respect to its employees other than legal liability under 45 U. See Rhode Island General Laws 27-46-2
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- State: means any state of the United States or the District of Columbia. See Rhode Island General Laws 27-46-2
- Subpoena: A command to a witness to appear and give testimony.