§ 35-10.1-8 - Insurance. - Rhode-island Statutes

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SECTION 35-10.1-8

§ 35-10.1-8 Insurance. – At its option, a depository institution may elect to purchase insurance for onehundred percent (100%) of any public deposit not covered by federal depositinsurance or secured pursuant to this chapter; provided, that this insurance isprovided by an insurer rated "AAA" by standard & poor's corporation, moody'sinvestors service, or both. This insurance may be provided in lieu of, butshall not be required in addition to, collateral otherwise required pursuant tothis chapter.

State Codes and Statutes

Statutes > Rhode-island > Title-35 > Chapter-35-10-1 > 35-10-1-8

SECTION 35-10.1-8

§ 35-10.1-8 Insurance. – At its option, a depository institution may elect to purchase insurance for onehundred percent (100%) of any public deposit not covered by federal depositinsurance or secured pursuant to this chapter; provided, that this insurance isprovided by an insurer rated "AAA" by standard & poor's corporation, moody'sinvestors service, or both. This insurance may be provided in lieu of, butshall not be required in addition to, collateral otherwise required pursuant tothis chapter.

State Codes and Statutes

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State Codes and Statutes

Statutes > Rhode-island > Title-35 > Chapter-35-10-1 > 35-10-1-8

SECTION 35-10.1-8

§ 35-10.1-8 Insurance. – At its option, a depository institution may elect to purchase insurance for onehundred percent (100%) of any public deposit not covered by federal depositinsurance or secured pursuant to this chapter; provided, that this insurance isprovided by an insurer rated "AAA" by standard & poor's corporation, moody'sinvestors service, or both. This insurance may be provided in lieu of, butshall not be required in addition to, collateral otherwise required pursuant tothis chapter.