§ 27-53.1-1 Purpose
§ 27-53.1-2 Scope
§ 27-53.1-3 Definitions
§ 27-53.1-4 Notice requirements
§ 27-53.1-5 Policyholder rights
§ 27-53.1-6 Effect of consent
§ 27-53.1-7 Commissioner’s discretion
§ 27-53.1-8 Notice of transfer

Terms Used In Rhode Island General Laws > Chapter 27-53.1 - Assumption Reinsurance

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Contract: A legal written agreement that becomes binding when signed.
  • in writing: include printing, engraving, lithographing, and photo-lithographing, and all other representations of words in letters of the usual form. See Rhode Island General Laws 43-3-16
  • 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.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
  • Statute: A law passed by a legislature.