§ 35-10.1-8 - Insurance. - Rhode Island Statutes

SECTION 35-10.1-8

   § 35-10.1-8  Insurance. – At its option, a depository institution may elect to purchase insurance for onehundred percent (100%) of any public deposit not covered by federal depositinsurance or secured pursuant to this chapter; provided, that this insurance isprovided by an insurer rated "AAA" by standard & poor's corporation, moody'sinvestors service, or both. This insurance may be provided in lieu of, butshall not be required in addition to, collateral otherwise required pursuant tothis chapter.