™Your Policy Risk Impact Agent
166 chapters · 2,034 sections in this title.
R.I. Gen. Laws § 27-47-1. Definitions
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As used in this chapter: (1) “Chief executive officer” is the person, irrespective of his or her title, designated by the board of directors or trustees of an insurer as the person charged with the responsibility of administering and implementing the insurer’s policies and proced…
R.I. Gen. Laws § 27-47-2. Duty to notify
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(a) Whenever a chief executive officer of an insurer knows or has reason to know that an insurer is impaired, he or she shall notify the commissioner, in writing, of the impairment as soon as reasonably possible, but in no event later than fifteen (15) days after the chief execut…
R.I. Gen. Laws § 27-47-3. Penalty
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(a) Any person who violates § 27-47-2 shall, upon conviction, be fined not more than fifty thousand dollars ($50,000) or be imprisoned for not more than one year, or both. (b) Any person who does any of the following: (1) Conceals any property belonging to an insurer; (2) Transfe…
