Any policy of a foreign or alien insurer, when delivered or issued for delivery to any person in this state, may contain any provision which is not less favorable to the insured or the beneficiary than the provision of this chapter and which is prescribed or required by the law of the state under which the insurer is organized.
(P.L. 1956, ch. 3808, § 3; G.L. 1956, § 27-18-9.)
Terms Used In Rhode Island General Laws 27-18-9. Policies of foreign insurers
- beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- person: extends to and includes co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6