§ 35-10.1-8. Insurance.
At its option, a depository institution may elect to purchase insurance for one hundred percent (100%) of any public deposit not covered by federal deposit insurance or secured pursuant to this chapter; provided, that this insurance is provided by an insurer rated “AAA” by standard & poor’s corporation, moody’s investors service, or both. This insurance may be provided in lieu of, but shall not be required in addition to, collateral otherwise required pursuant to this chapter.
History of Section.P.L. 1991, ch. 44, art. 74, § 1.
Structure Rhode Island General Laws
Chapter 35-10.1 - Collateralization of Public Deposits
Section 35-10.1-1. - Short title.
Section 35-10.1-2. - Definitions.
Section 35-10.1-3. - Securing of deposits.
Section 35-10.1-4. - Substitution of collateral.
Section 35-10.1-5. - Valuation of collateral.
Section 35-10.1-6. - Income from collateral.
Section 35-10.1-8. - Insurance.
Section 35-10.1-9. - Federal deposit insurance.