Rhode Island General Laws 27-25-21. Investments
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A society shall invest its funds only in those investments authorized by the laws of this state for the investment of assets of life insurers and subject to the limitations on the investments. Any foreign or alien society permitted or seeking to do business in this state that invests its funds in accordance with the laws of the state, district, territory, country, or province in which it is incorporated, shall be held to meet the requirements of this section for the investment of funds.
History of Section.
P.L. 1984, ch. 201, § 2.
Terms Used In Rhode Island General Laws 27-25-21
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Laws: means the society's articles of incorporation, constitution, and bylaws, however designated. See Rhode Island General Laws 27-25-4
- Society: means fraternal benefit society, unless otherwise indicated. See Rhode Island General Laws 27-25-4