Rhode Island § 27-1-3 - Domestic Insurance Companies
Full text of Rhode Island Rhode Island General Laws § 27-1-3 — Domestic Insurance Companies, with citation guidance and answers to common questions.
§ 27-1-3. Domestic Insurance Companies
R.I. Gen. Laws § 27-1-3
§ 27-1-3. Stock assessments to meet deficits.
Whenever the capital stock of any insurance company is diminished by reason of losses or from any other cause, the stockholders of the company, at any legal meeting called for the purpose, may, after making due allowance from the assets of the company of the amount as may be required to reinsure its outstanding risks, assess on the several stockholders a further sum as may be necessary to fill up the capital stock to its original amount in proportion to the amount of stock owned by each, and the stock of every stockholder shall be pledged and liable for the assessment. In case any stockholder refuses to pay the assessment, the stock standing in the name of the delinquent stockholder may be sold at public auction after thirty (30) days’ notice, in a manner as may be provided in the bylaws of the company.
History of Section.
G.L. 1896, ch. 181, § 14; G.L. 1909, ch. 219, § 14; G.L. 1923, ch. 255, § 14; G.L.
1938, ch. 150, § 13; G.L. 1956, § 27-1-3.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 27-1-3
What does Rhode Island General Laws § 27-1-3 cover?
Section 27-1-3 ("Domestic Insurance Companies") is part of the Rhode Island General Laws, the codified statutory law of Rhode Island. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Rhode Island § 27-1-3?
A common citation format is "Rhode Island General Laws § 27-1-3" (Rhode Island). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Rhode Island law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Rhode Island official source linked on this page or consult a licensed Rhode Island attorney.
How does Rhode Island § 27-1-3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Rhode Island can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Rhode Island.