§ 27-5-30 - Funds established under prior law.
SECTION 27-5-30
§ 27-5-30 Funds established under priorlaw. – The action of any company organized under the laws of this state authorized todo a fire insurance business in constituting and setting apart guaranty surplusand special reserve funds under the provisions of §§ 26 to 33 ofchapter 181 of the General Laws of 1896, or of chapter 307 of the Public Lawsof 1896, or under any prior act of the general assembly, is hereby confirmedand approved and those companies may continue to hold and maintain the funds soconstituted and set apart, subject to the terms and provisions of §§27-5-15 – 27-5-31; and provided, that as to all policies issued prior toJuly 1, 1907, and which by their terms are made subject to §§ 26 to33 of chapter 181 of the General Laws of 1896 and chapter 307 of the PublicLaws of 1896, those sections and acts shall remain in full force and effect.