§ 34-43-1 - Insurance on multi-unit residential and commercial property. - Rhode Island Statutes

SECTION 34-43-1

   § 34-43-1  Insurance on multi-unitresidential and commercial property. – (a) Every landlord or lessor of residential or commercial property in the cityof Providence shall file a written declaration in the office of the taxassessor of the city of Providence setting forth information regarding theinsurance company insuring the property against loss or damage by fire. Thedeclaration shall indicate the property location, the name of the insurancecompany or companies issuing the policy, the named insured and the policynumber of the policy; the amount of insurance coverage provided in the policy;and the named insured and/or loss payee. The declaration shall be filed withinten (10) days of the landlord or lessor taking title to the property and withinten (10) days of the issuance of a new policy or amendment of the policy whichamends any of the information contained in the declaration. The declarationshall also apply to all existing property as of June 27, 1986 and shall requirefiling of the information upon receipt of the first tax bill after June 27,1986.

   (b) Any person who violates the provisions of this sectionshall be guilty of a misdemeanor and may be punished by a fine of up to anamount not exceeding five hundred dollars ($500.00), or by imprisonment notexceeding one year, or both a fine and imprisonment. The city of Providence ishereby empowered to enforce the provisions of this section.

   (c) The provisions of this section shall not apply to anyresidential property occupied by the owner or owners thereof nor shall it applyto any residential property occupied by less than three (3) households.