§ 31-50-4 - Funding of office. - Rhode Island Statutes

SECTION 31-50-4

   § 31-50-4  Funding of office. – The director of business regulation shall fund the office of automobile theftand insurance fraud annually through those insurers authorized to writeautomobile insurance in the state, in proportion to their market share, in anamount equal to one dollar ($1.00) per year times the total number ofregistrations of vehicles having a gross weight of ten thousand pounds (10,000lbs.) or less. Insurers may collect the amount as a policy surcharge,separately identifiable on either the policy declaration page or billing. Thedirector is authorized by rules and regulations to raise these funds and directthe method by which payment of these charges is to be implemented. All fundscollected pursuant to this section shall be deposited as general revenues.