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2017 Rhode Island General Laws
Title 27 - Insurance
Chapter 27-1 - Domestic Insurance Companies
Section 27-1-44 - Prohibition on the pledging of stock.
Universal Citation: RI Gen L § 27-1-44 (2017)
§ 27-1-44. Prohibition on the pledging of stock.
No domestic insurance company, and no holding company as defined in § 27-35-1(d), shall pledge its own stock, or any stock of any domestic insurance company subsidiary, without the prior written consent of the director of business regulation. The provisions of this section shall not apply to any of these pledges in effect prior to August 5, 1996.
History of Section.
(P.L. 1996, ch. 188, § 2; P.L. 1999, ch. 141, § 1.)
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