Rhode Island S2076 mandates that corporations created under this statute be regulated by the Rhode Island Department of Business Regulation.

Rhode Island S2076 amends the General Laws to require corporations established under this statute to be regulated by the Rhode Island Department of Business Regulation. These corporations, created by cities, towns, school committees, or water and fire districts, aim to provide insurance and reinsurance policies to eligible entities, manage risks, and pool resources. The bill ensures that these corporations are not considered insurance companies and are exempt from state insurance regulations.

Rhode Island S2076 mandates that corporations created under this statute be regulated by the Rhode Island Department of Business Regulation.

Rhode Island S2076 amends the General Laws to require corporations established under this statute to be regulated by the Rhode Island Department of Business Regulation. These corporations, created by cities, towns, school committees, or water and fire districts, aim to provide insurance and reinsurance policies to eligible entities, manage risks, and pool resources. The bill ensures that these corporations are not considered insurance companies and are exempt from state insurance regulations.