Rhode Island General Laws 27-48-3. Applicability
This chapter shall apply to licensed insurers as defined in § 27-48-2, either domiciled in this state or domiciled in a state that is not an accredited state having in effect a substantially similar law. All provisions of chapter 35 of this title to the extent they are not superseded by this chapter shall continue to apply to all parties within holding company systems subject to this chapter.
History of Section.
P.L. 1992, ch. 445, § 9.
Terms Used In Rhode Island General Laws 27-48-3
- Accredited state: means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established from time to time by the National Association of Insurance Commissioners (NAIC);
(2) "Control" or "controlled" has the meaning ascribed in § 27-35-1(c);
(3) "Controlled insurer" means a licensed insurer which is controlled, directly or indirectly, by a producer;
(4) "Controlling producer" means a producer who, directly or indirectly, controls an insurer;
(5) "Director" means the director of the department of business regulation, or his or her designee;
(6) "Licensed insurer" or "insurer" means any person, firm, association, or corporation duly licensed to transact a property or casualty insurance business in this state. See Rhode Island General Laws 27-48-2