Title 27, Title 27 Title 27

(a) A member insurer may offset against its premium, franchise or income tax liability (or liabilities) to this state an assessment described in § 27-34.3-9(h) to the extent of ten percent (10%) of the amount of the assessment for each of the five (5) calendar years following the…

(a) This chapter shall not be construed to reduce the liability for unpaid assessments of the insureds of an impaired or insolvent insurer operating under a plan with assessment liability. (b) Records shall be kept of all meetings of the board of directors to discuss the activiti…

The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit to the commissioner each year, not later than one hundred twenty (120) days after the association’s fiscal year, a financial report in a form approved by the co…

The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real property.

There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer or its agents or employees, the association or its agents or employees, members of the board of directors, or the commissioner or the commissioner’s representati…

All proceedings in which the insolvent insurer is a party in any court in this state shall be stayed one hundred eighty (180) days from the date an order of liquidation, rehabilitation, or conservation is final to permit proper legal action by the association on any matters germa…

(a) No person, including an insurer, agent, producer, or affiliate of an insurer, shall make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in any newspap…

(a) The purpose of this chapter is to protect, subject to certain limitations, the persons specified in § 27-34.3-3(a) against failure in the performance of contractual obligations, under life and health insurance policies and annuity contracts specified in § 27-34.3-3(b), becaus…

This chapter shall not apply to any insurer that is insolvent or unable to fulfill its contractual obligations prior to January 1, 1996, and any such insurer shall be subject to the provisions under chapter 34.1 [repealed] of this title. Nothing in this chapter shall be construed…

(a) This chapter shall provide coverage for the policies and contracts specified in subsection (b) of this section: (1) To persons who, regardless of where they reside (except for nonresident certificate holders under group policies or contracts), are the beneficiaries, assignees…

This chapter shall be construed to effect the purpose under § 27-34.3-2.

As used in this chapter: (1) “Account” means either of the two accounts created under § 27-34.3-6. (2) “Association” means the Rhode Island life and health insurance guaranty association created under § 27-34.3-6. (3) “Authorized assessment” or the term “authorized” when used in …

(a) There is created a nonprofit legal entity to be known as the Rhode Island life and health insurance guaranty association. All member insurers shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association …

(a) The board of directors of the association shall consist of: (1) Not less than five (5) nor more than nine (9) member insurers serving terms as established in the plan of operation; and (2) The commissioner or the commissioner’s designee. Only member insurers shall be eligible…

(a) If a member insurer is an impaired insurer, the association may, in its discretion, and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer, and that are approved by the commissioner: (1) Guarantee, assum…

(a) For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers, separately for each account, at such time and for such amounts as the board finds necessary. Assessments shall be d…