§ 27-25-44 - Fraternal benefit society assessment. - Rhode Island Statutes

SECTION 27-25-44

   § 27-25-44  Fraternal benefit societyassessment. – (a) Notwithstanding any other provisions of law, each domestic fraternalbenefit society shall be charged an assessment to partially support theactivities of the division of insurance in the department of businessregulation.

   (b) Each society's assessment shall be determined inaccordance with the following ratio: (1) by dividing the society's total directpremiums, including annuities, less policyholder dividends by total directpremiums, including annuities, less policyholder dividends of all domesticinsurance companies plus the total direct premiums of domestic companieslicensed or regulated pursuant to chapters 19, 20, 20.1, 20.2, 20.3, 25, and 41of this title, and chapter 62 of title 42, and then by (2) multiplying theresulting ratio times two hundred thousand dollars ($200,000).

   (c) The minimum assessment charged shall be the greater ofthe sum determined by subsection (b) of this section or one thousand dollars($1,000).