§ 27-2.6-7. Minimum capital and surplus requirements.
Before being licensed to do insurance business in this state, a title insurer shall establish and maintain a minimum paid-in capital of not less than five hundred thousand dollars ($500,000) and, in addition, paid-in initial surplus of at least five hundred thousand dollars ($500,000).
History of Section.P.L. 2010, ch. 58, § 1; P.L. 2010, ch. 66, § 1.
Structure Rhode Island General Laws
Chapter 27-2.6 - Rhode Island Title Insurers Act
Section 27-2.6-1. - Title and purpose.
Section 27-2.6-2. - Application of act and construction with other laws.
Section 27-2.6-3. - Definitions.
Section 27-2.6-4. - Corporate form required.
Section 27-2.6-5. - Authorized activities of title insurers.
Section 27-2.6-6. - Limitations on powers.
Section 27-2.6-7. - Minimum capital and surplus requirements.
Section 27-2.6-8. - Admitted asset standards.
Section 27-2.6-10. - Liquidation, dissolution or insolvency.
Section 27-2.6-11. - Diversification requirement.
Section 27-2.6-12. - Policyholder treatment.
Section 27-2.6-13. - Duties of title insurers utilizing the services of title insurance agents.
Section 27-2.6-14. - Prohibition of rebate and fee splitting.
Section 27-2.6-15. - Favored agent of title insurer.
Section 27-2.6-16. - Premium rate filings and standards.
Section 27-2.6-17. - Form filing.
Section 27-2.6-18. - Filing by rating bureaus.
Section 27-2.6-19. - Penalties and liabilities.
Section 27-2.6-20. - Violations of the Real Estate Settlement Procedures Act (RESPA).