Rhode Island § 27-51-3 - Managing General Agents Act
Full text of Rhode Island Rhode Island General Laws § 27-51-3 — Managing General Agents Act, with citation guidance and answers to common questions.
§ 27-51-3. Managing General Agents Act
R.I. Gen. Laws § 27-51-3
§ 27-51-3. Licensure.
(a) No person, firm, association, or corporation shall act in the capacity of an MGA with respect to risks located in this state for an insurer licensed in this state unless that person, firm, association, or corporation is a licensed producer in this state.
(b) No person, firm, association, or corporation shall act in the capacity of an MGA representing an insurer domiciled in this state with respect to risks located outside this state unless that person, firm, association, or corporation is licensed as a producer in this state. The license may be a nonresident license pursuant to the provisions of this chapter.
(c) The commissioner may require a bond in an amount acceptable to the commissioner for the protection of the insurer.
(d) The commissioner may require the MGA to maintain an errors and omissions policy.
History of Section.
P.L. 1992, ch. 445, § 1.
Frequently Asked Questions About Rhode Island § 27-51-3
What does Rhode Island General Laws § 27-51-3 cover?
Section 27-51-3 ("Managing General Agents Act") 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 § 27-51-3?
A common citation format is "Rhode Island General Laws § 27-51-3" (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 § 27-51-3 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.