R.I. Gen. Laws § 27-34-6

Current through 2024 Public Law 457

Section 27-34-6 - Creation of the association

There is created a nonprofit unincorporated legal entity to be known as the "Rhode Island Property & Casualty Insurance Guaranty Association," such entity formerly known as the "Rhode Island insurers' insolvency fund." All insurers defined as member insurers in § 27-34-5(12) shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under § 27-34-9 and shall exercise its powers through a board of directors established under § 27-34-7. For the purposes of administration and assessment, there shall be three (3) separate accounts:

(1) the workers' compensation insurance account;

(2) the automobile insurance account; and

(3) the account for all other insurance to which this chapter applies.

R.I. Gen. Laws § 27-34-6

P.L. 1988, ch. 407, §2; P.L. 2010 , ch. 91, § 1; P.L. 2010 , ch. 117, § 1.