No domestic insurance company, and no holding company as defined in § 27-35-1(6), shall pledge its own stock, or any stock of any domestic insurance company subsidiary, without the prior written consent of the director of business regulation. The provisions of this section shall not apply to any of these pledges in effect prior to August 5, 1996.
R.I. Gen. Laws § 27-1-44
Prohibition on the pledging of stock
P.L. 1996, ch. 188, § 2; P.L. 1999, ch. 141, § 1.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.