§ 27-1-44 - Prohibition on the pledging of stock. - Rhode Island Statutes

SECTION 27-1-44

   § 27-1-44  Prohibition on the pledging ofstock. – 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 insurancecompany subsidiary, without the prior written consent of the director ofbusiness regulation. The provisions of this section shall not apply to any ofthese pledges in effect prior to August 5, 1996.