§ 27-4-24 - Filing of life insurance policy forms. - Rhode Island Statutes

SECTION 27-4-24

   § 27-4-24  Filing of life insurance policyforms. – (a) Any insurance company authorized to do a life insurance and/or annuitiesbusiness within this state in accordance with the provisions of this titleshall file all life insurance policy forms and annuity contract forms used byit in the state with the insurance commissioner. The commissioner may alsorequire any company to file the forms of any rider, endorsement, applicationblank, and other matter generally used or incorporated by reference in itspolicies or contracts of insurance or annuities. Any organization, bureau, orassociation of which the company is a member may, on behalf of the company,make the filings required by this section. If the commissioner finds from anexamination of any form filed that it is contrary to the public interest, he orshe shall forbid the use of the form, and shall notify the company in writingas provided in § 27-4-24.2.

   (b) Alternatively, a carrier may obtain authorization to usea life insurance policy form or annuity contract by obtaining authorizationthrough the Interstate Insurance Product Compact Commission provided in chapter2.5 of this title, provided that:

   (1) The state of Rhode Island has not "opted out" of thecompact with regard to the line in question; and

   (2) The appropriate filing fee, as set forth in §42-14-18 and the regulations thereunder, has been paid.