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2017 Rhode Island General Laws
Title 27 - Insurance
Chapter 27-64 - The Protected Cell Companies Act
Section 27-64-2 - Purpose.
Universal Citation: RI Gen L § 27-64-2 (2017)
§ 27-64-2. Purpose.
This act is adopted to provide a basis for the creation of protected cells by a domestic insurer as one means of accessing alternative sources of capital and achieving the benefits of insurance securitization. Investors in fully funded insurance securitization transactions provide funds that are available to pay the insurer's insurance obligations or to repay the investors or both. The creation of protected cells is intended to be a means to achieve more efficiencies in conducting insurance securitizations.
History of Section.
(P.L. 1999, ch. 22, § 1; P.L. 2001, ch. 156, § 1.)
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