§ 27-14.5-3 - Notice. - Rhode Island Statutes

SECTION 27-14.5-3

   § 27-14.5-3  Notice. – (a) Wherever in this chapter notice is required, the applicant shall, withinten (10) days of the event triggering the requirement, cause transmittal of thenotice:

   (1) By first class mail and facsimile to the insuranceregulator in each jurisdiction in which the applicant is doing business;

   (2) By first class mail to all guarantee associations;

   (3) Pursuant to the notice provisions of reinsuranceagreements or, where an agreement has no provision for notice, by first classmail to all reinsures of the applicant;

   (4) By first class mail to all insurance agents or insuranceproducers of the applicant;

   (5) By first class mail to all persons known or reasonablyexpected to have claims against the applicant including all policyholders, attheir last known address as indicated by the records of the applicant;

   (6) By first class mail to federal, state, and localgovernment agencies and instrumentalities as their interests may arise; and

   (7) By publication in a newspaper of general circulation inthe state in which the applicant has its principal place of business and in anyother locations that the court overseeing the proceeding deems appropriate.

   (b) If notice is given in accordance with this section, anyorders under this chapter shall be conclusive with respect to all claimants andpolicyholders, whether or not they received notice.

   (c) Where this chapter requires that the applicant providenotice but the commissioner has been named receiver of the applicant, thecommissioner shall provide the required notice.