§ 27-25-29 - Foreign or alien society – Admission. - Rhode Island Statutes

SECTION 27-25-29

   § 27-25-29  Foreign or alien society –Admission. – No foreign or alien society shall transact business in this state without alicense issued by the commissioner of insurance. A society desiring admissionto this state shall comply substantially with the requirements and limitationsof this chapter applicable to domestic societies. A society may be licensed totransact business in this state upon filing with the commissioner of insurance:

   (1) A duly certified copy of its articles of incorporation;

   (2) A copy of its bylaws, certified by its secretary orcorresponding officer;

   (3) A power of attorney to the commissioner of insurance asprescribed in § 27-25-35;

   (4) A statement of its business under oath of its presidentand secretary or corresponding officers in a form prescribed by thecommissioner of insurance, duly verified by an examination made by thesupervising insurance official of its home state or other state, territory,province, or country, satisfactory to the commissioner of insurance of thisstate;

   (5) Certification from the proper official of its home state,territory, province, or country that the society is legally incorporated andlicensed to transact business in its home state, territory, province, orcountry;

   (6) Copies of its certificate forms;

   (7) A showing that its assets are invested in accordance withthe provisions of this chapter; and

   (8) Any other information that the commissioner of insurancemay deem necessary.