§ 27-33-2. Participation.
Each domestic insurer and all insurers licensed to write those classes of insurance listed in §§ 27-8-1 and 27-8-3 in the state, on a direct basis, shall participate in the basic property insurance and placement program established in this state in furtherance of 12 U.S.C. § 1749bbb et seq., commonly known as the FAIR (Fair Access to Insurance Requirements) plan. Failure to comply with this provision may be grounds for revocation, suspension, or nonrenewal of any license.
History of Section.P.L. 1969, ch. 211, § 1.
Structure Rhode Island General Laws
Chapter 27-33 - Federal Riot Reinsurance Reimbursement Fund
Section 27-33-2. - Participation.
Section 27-33-3. - Inspection and statements.
Section 27-33-4. - Creation of fund.
Section 27-33-5. - Reimbursement of the secretary.
Section 27-33-6. - Post assessment funding.
Section 27-33-7. - Authorization of payment.
Section 27-33-8. - Insolvency.
Section 27-33-9. - Alternate preassessment funding.