§ 27-2.2-4 - Conversion to foreign insurer. - Rhode Island Statutes

SECTION 27-2.2-4

   § 27-2.2-4  Conversion to foreign insurer.– (a) Any domestic insurer may, upon the approval of, and compliance with anyconditions as may be imposed by the insurance commissioner, transfer itsdomicile, in accordance with the laws of the other state or jurisdiction, toany other state or jurisdiction, and upon the transfer shall cease to be adomestic insurer, and its corporate or other legal existence in this stateshall cease upon the filing of proof of the re-domestication with the insurancecommissioner and upon payment of a filing fee in the amount of one thousanddollars ($1,000).

   (b) The insurer shall be admitted to this state as a foreigninsurer if qualified as a foreign insurer, upon compliance with thequalification requirements for foreign insurers pursuant to chapter 2 of thistitle, to the extent not waived by the commissioner.