Rhode Island § 27-17-2 - Reciprocal Exchanges and Interinsurers
Full text of Rhode Island Rhode Island General Laws § 27-17-2 — Reciprocal Exchanges and Interinsurers, with citation guidance and answers to common questions.
§ 27-17-2. Reciprocal Exchanges and Interinsurers
R.I. Gen. Laws § 27-17-2
§ 27-17-2. Power of subscribers to exchange reciprocal and interinsurance contracts.
(a) Individuals, partnerships, trustees, and all corporations of this state, designated throughout this chapter as “subscribers”, are authorized to exchange reciprocal or interinsurance contracts with each other and with individuals, partnerships, trustees, and corporations of other states.
(b) The right of a corporation to exchange those contracts is declared to be incidental to the purpose for which the corporation is organized and as much granted as the rights and powers expressly conferred. Whenever a trustee acting in a representative capacity insures property held in trust at a reciprocal exchange, the trustee may assume the liability and be entitled to the rights of a subscriber, but in doing this shall not personally or individually be liable under the power of attorney executed on behalf of the trust.
(c) The contracts and the exchange of contracts and the subscribers, their attorneys in fact, and representatives, shall be regulated by this chapter and by no other statute of this state relating to insurance, except as otherwise specifically provided in this chapter.
History of Section.
P.L. 1952, ch. 3003, § 1; G.L. 1956, § 27-17-2.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 27-17-2
What does Rhode Island General Laws § 27-17-2 cover?
Section 27-17-2 ("Reciprocal Exchanges and Interinsurers") 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 § 27-17-2?
A common citation format is "Rhode Island General Laws § 27-17-2" (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 § 27-17-2 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.