Current through December 3, 2024
Section 230-RICR-20-05-7.4 - Method of FundingA. At such times as deemed appropriate by the Director, each insurer shall be notified in writing by the Department of Business Regulation of the amount owed which amount shall be 1. based upon the insurer's most recently determinable annual percentage market share on or before March 1 of each year, and 2. equal to one ($1) dollar times the total of registrations of vehicles having a gross weight of ten thousand (10,000) pounds or less, as determined by the Director. B. The number of registrations of vehicles shall be obtained from the Registry of Motor Vehicles. Said amount may be collected by an insurer as a policy surcharge, separately identifiable on either the policy declaration page or billing.230 R.I. Code R. 230-RICR-20-05-7.4