§ 27-5-19 - Certification that funds equal capital stock – Subsequent additions. - Rhode Island Statutes

SECTION 27-5-19

   § 27-5-19  Certification that funds equalcapital stock – Subsequent additions. – Whenever any company notifies the insurance commissioner that it has fulfilledthe requirements already expressed in this chapter, and that its guarantysurplus fund and its special reserve fund taken together equal its capitalstock, the commissioner shall make an examination of the company and make acertificate of the result and file the certificate in his or her office. If thecommissioner finds that the combined funds equal the capital stock of thecompany, after this the company may continue, out of any subsequent profits ofits business, to add to those funds; provided, that whenever any addition ismade to the special reserve fund, an equal sum shall be carried to the guarantysurplus fund.