Rhode Island General Laws Title 27. Insurance § 27-43-1. Definitions

(1) “ Affiliated company” means any corporation controlled by or an affiliate of a parent, an industrial insured, or a member organization by virtue of common ownership, control, operation, or management.

(2) “ Association” means any association of individuals, corporations, partnerships, or associations that has a separate legal existence, the member organizations of which collectively:

(3) “ Association captive insurance company” means any company that insures risks of the member organizations of the association, and their affiliated companies.

(4) “ Captive insurance company” means any subsidiary captive insurance company, association captive insurance company, or industrial insured captive insurance company formed or licensed under the provisions of this chapter, including a captive insurance company that is organized as a protected cell company under the Protected Cell Companies Act, chapter 64 of this title.

(5) “ Commissioner” means the director of the department of business regulation.

(6) “ Industrial insured” means an insured:

(7) “ Industrial insured captive insurance company” means any company that insures risks of the industrial insured that comprise the industrial insured group, and their affiliated companies.

(8) “ Industrial insured group” means any group that meets either of the following criteria:

(9) “ Member organization” means any individual, corporation, partnership, or association that belongs to an association.

(10) “ Parent” means a corporation, partnership, or individual that directly or indirectly owns, controls, or holds with power to vote more than fifty percent (50%) of the outstanding voting securities of a subsidiary captive insurance company.

(11) “ Personal lines of insurance” means personal motor vehicle, homeowner's insurance coverage, health insurance, life insurance, workers’ compensation, residential fire insurance, or any component of them.

(12) “ Subsidiary captive insurance company” means any company that insures risks of its parent and affiliated companies.