§ 27-59-1. Definitions. As used in this chapter, unless the context requires otherwise: (1) “Alien insurance company” means any insurance company incorporated or organized under the laws of any country other than the United States. (2) “Commissioner” means the director of the department of business regulation. History of Section.P.L. 1997, ch. 67, § 1.
§ 27-59-2. Licensing authority. Any alien insurance company, with the approval of the commissioner, may be treated, in whole or in part, as a domestic insurer of this state; provided, that: (1) The alien insurance company appoints a resident registered agent to accept service of process and to act on its behalf in this state. […]
§ 27-59-3. Approval of the commissioner. 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 […]
§ 27-59-4. Deposits of security — Amounts. (a) Every alien insurance company authorized to transact business in this state shall at all times maintain a deposit with the general treasurer of the state of Rhode Island in cash or in securities in which insurance companies are authorized to invest, a sum equal to the greater […]
§ 27-59-5. Laws applicable. All provisions of this title shall apply to alien insurance companies as if they were domestic insurance companies. If the provisions of this chapter are inconsistent with the provisions of any other law, general, special, or local, the provisions of this chapter shall be controlling. History of Section.P.L. 1997, ch. 67, […]
§ 27-59-6. Regulations. The commissioner shall promulgate any rules and regulations required to implement this chapter. History of Section.P.L. 1997, ch. 67, § 1.
