§ 27-33-8. Insolvency.
In the event any insurer fails, by reason of insolvency, to pay any assessment, the fund shall cause the reimbursement ratios, computed under § 27-33-6, to be immediately recalculated, excluding from them the insolvent insurer, so that its assessment is in effect, assumed and redistributed among the remaining insurers.
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.