§ 27-33-2 - Participation. - Rhode Island Statutes

SECTION 27-33-2

   § 27-33-2  Participation. – Each domestic insurer and all insurers licensed to write those classes ofinsurance listed in §§ 27-8-1 and 27-8-3 in the state, on a directbasis, shall participate in the basic property insurance and placement programestablished in this state in furtherance of 12 U.S.C. § 1749bbb et seq.,commonly known as the FAIR (Fair Access to Insurance Requirements) plan.Failure to comply with this provision may be grounds for revocation,suspension, or nonrenewal of any license.