Rhode Island General Laws > Chapter 27-4.2 – Life and Health Reinsurance Agreements Act
Current as of: 2024 | Check for updates
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| § 27-4.2-1 | Preamble |
| § 27-4.2-2 | Applicability |
| § 27-4.2-3 | Accounting requirements |
| § 27-4.2-4 | Written agreements |
| § 27-4.2-6 | Rules and regulations |
| § 27-4.2-7 | Existing agreements |
Terms Used In Rhode Island General Laws > Chapter 27-4.2 - Life and Health Reinsurance Agreements Act
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.