Rhode Island § 27-64-7 - Protected Cell Companies Act
Full text of Rhode Island Rhode Island General Laws § 27-64-7 — Protected Cell Companies Act, with citation guidance and answers to common questions.
§ 27-64-7. Protected Cell Companies Act
R.I. Gen. Laws § 27-64-7
§ 27-64-7. Conservation, rehabilitation and liquidation of protected cell companies.
(a) Notwithstanding any contrary provision in the insurance code of this state, the rules and regulations promulgated under the insurance code, or any other applicable law or regulation, upon placement under administrative supervision or upon any order of conservation, rehabilitation or liquidation of a protected cell company, the receiver shall be bound to deal with the protected cell company’s assets and liabilities, including protected cell assets and protected cell liabilities, in accordance with the requirements set forth in this chapter.
(b) With respect to amounts recoverable under a protected cell company insurance securitization, the amount recoverable by the receiver shall not be reduced or diminished as a result of the placement under administrative supervision or entry of an order of conservation, rehabilitation or liquidation with respect to the protected cell company or any of its protected cells, notwithstanding any provisions to the contrary in the contracts or other documentation governing the protected cell company insurance securitization.
History of Section.
P.L. 1999, ch. 22, § 1; P.L. 2001, ch. 156, § 1.
Frequently Asked Questions About Rhode Island § 27-64-7
What does Rhode Island General Laws § 27-64-7 cover?
Section 27-64-7 ("Protected Cell Companies 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 § 27-64-7?
A common citation format is "Rhode Island General Laws § 27-64-7" (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 § 27-64-7 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.