§ 27-58-9 - No discrimination against non-affiliated agents. - Rhode-island Statutes

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Statutes > Rhode-island > Title-27 > Chapter-27-58 > 27-58-9

SECTION 27-58-9

§ 27-58-9 No discrimination againstnon-affiliated agents. – No financial institution may:

(1) Require as a condition of providing any product orservice to any customer, or any renewal of any contract for providing theproduct or service, that the customer acquire, finance, or negotiate any policyor contract of insurance through a particular insurer, or insurance producer;

(2) In connection with a loan or extension of credit thatrequires a borrower to obtain insurance, reject an insurance policy becausethat policy has been issued or underwritten by any person who is not associatedwith that institution;

(3) Impose any requirement on any insurance producer who isnot associated with the financial institution that is not imposed on anyinsurance producer who is associated with that institution; or

(4) Unless otherwise authorized by any applicable federal orstate law, require any debtor, insurer, or producer to pay a separate charge inconnection with the handling of insurance that is required under a contract.

State Codes and Statutes

Statutes > Rhode-island > Title-27 > Chapter-27-58 > 27-58-9

SECTION 27-58-9

§ 27-58-9 No discrimination againstnon-affiliated agents. – No financial institution may:

(1) Require as a condition of providing any product orservice to any customer, or any renewal of any contract for providing theproduct or service, that the customer acquire, finance, or negotiate any policyor contract of insurance through a particular insurer, or insurance producer;

(2) In connection with a loan or extension of credit thatrequires a borrower to obtain insurance, reject an insurance policy becausethat policy has been issued or underwritten by any person who is not associatedwith that institution;

(3) Impose any requirement on any insurance producer who isnot associated with the financial institution that is not imposed on anyinsurance producer who is associated with that institution; or

(4) Unless otherwise authorized by any applicable federal orstate law, require any debtor, insurer, or producer to pay a separate charge inconnection with the handling of insurance that is required under a contract.

State Codes and Statutes

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State Codes and Statutes

Statutes > Rhode-island > Title-27 > Chapter-27-58 > 27-58-9

SECTION 27-58-9

§ 27-58-9 No discrimination againstnon-affiliated agents. – No financial institution may:

(1) Require as a condition of providing any product orservice to any customer, or any renewal of any contract for providing theproduct or service, that the customer acquire, finance, or negotiate any policyor contract of insurance through a particular insurer, or insurance producer;

(2) In connection with a loan or extension of credit thatrequires a borrower to obtain insurance, reject an insurance policy becausethat policy has been issued or underwritten by any person who is not associatedwith that institution;

(3) Impose any requirement on any insurance producer who isnot associated with the financial institution that is not imposed on anyinsurance producer who is associated with that institution; or

(4) Unless otherwise authorized by any applicable federal orstate law, require any debtor, insurer, or producer to pay a separate charge inconnection with the handling of insurance that is required under a contract.