Rhode Island General Laws 27-59-3. Approval of the commissioner
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The commissioner in determining whether to approve an alien insurance company may consider:
(1) Maintenance of an appropriate trust account, surplus account, or other financial mechanisms in this state;
(2) Maintenance of all books and records of the United States operations in this state;
(3) Maintenance of a separate financial reporting system for its United States operations; and
(4) Any other provisions deemed necessary by the insurance commissioner.
History of Section.
P.L. 1997, ch. 67, § 1.
Terms Used In Rhode Island General Laws 27-59-3
- Alien insurance company: means any insurance company incorporated or organized under the laws of any country other than the United States. See Rhode Island General Laws 27-59-1
- Commissioner: means the director of the department of business regulation. See Rhode Island General Laws 27-59-1
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
- United States: include the several states and the territories of the United States. See Rhode Island General Laws 43-3-8