§ 27-11.1-1. Maximum investments in real property.
No domestic insurance company shall purchase, lease, hold, or improve any real property if the cost or value of the property, or the cost of the improvements on it, or all of them on the date of the purchase, lease, or acquisition, plus the book value on that date of all real property held by the company, exceeds twenty percent (20%) of its admitted assets.
History of Section.P.L. 1984, ch. 170, § 1.
Structure Rhode Island General Laws
Chapter 27-11.1 - Investments by Domestic Insurance Companies
Section 27-11.1-1. - Maximum investments in real property.
Section 27-11.1-2. - Maximum investments in mortgage loans.
Section 27-11.1-4. - Maximum investments in affiliated or subsidiary companies.
Section 27-11.1-5. - Investment in collateral loans.
Section 27-11.1-6. - Applicability.