Rhode Island § 27-59-4 - Alien Insurance Companies
Full text of Rhode Island Rhode Island General Laws § 27-59-4 — Alien Insurance Companies, with citation guidance and answers to common questions.
§ 27-59-4. Alien Insurance Companies
R.I. Gen. Laws § 27-59-4
§ 27-59-4. Deposits of security — Amounts.
(a) Every alien insurance company authorized to transact business in this state shall at all times maintain a deposit with the general treasurer of the state of Rhode Island in cash or in securities in which insurance companies are authorized to invest, a sum equal to the greater of total United States liabilities or one million dollars ($1,000,000). The securities shall be approved, and the amount of the deposit shall be determined, by the commissioner. The commissioner, in the commissioner’s discretion, may permit the withdrawal of interest earnings.
(b) In lieu of the deposits provided in this section, an alien insurance company may file with the commissioner a bond of equal amount executed by a licensed United States surety company so conditioned for the protection of Rhode Island creditors and policyholders.
(c) An alien insurance company shall not be granted a certificate of authority to transact business in this state, or renewal of the certificate, until the deposit is made, and the commissioner may revoke the certificate of authority of an alien insurance company that fails to make the deposit in a reasonable period of time.
History of Section.
P.L. 1997, ch. 67, § 1.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 27-59-4
What does Rhode Island General Laws § 27-59-4 cover?
Section 27-59-4 ("Alien 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 § 27-59-4?
A common citation format is "Rhode Island General Laws § 27-59-4" (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 § 27-59-4 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.