Current through November 7, 2024
Section 230-RICR-20-45-5.1 - Definitions of Certain Terms.A. "Act" means R.I. Gen. Laws §§ 27-1-29 to 27-1-36, inclusive, of the general laws.B. "Equity security" means any stock or similar security; or any voting trust certificate or certificate of deposit for such a security; or any security convertible, with or without consideration into such a security, or carrying any warrant or right to subscribe to or purchase such a security; or any such warrant or right.C. "Immediate family" of a trustee means:1. a son or daughter of the trustee, or a descendant of either;2. a stepson or stepdaughter of the trustee;3. the father or mother of the trustee, or an ancestor of either;4. a stepfather or stepmother of the trustee;5. a spouse of the trustee.6. For the purpose of determining whether any of the foregoing relations exists, a legally adopted child of a person shall be considered a child of such person by blood.D. "Issuer" means any domestic stock insurance company any class of whose equity securities are subject to the provisions of R.I. Gen. Laws §§ 27-1-29 to 27-1-35, inclusive, of the general laws and are not exempt by reason of the application of R.I. Gen. Laws §§ 27-1-32 and 27-1-33.E. "Officer" means a president, vice president, treasurer, actuary secretary, controller and any other person who performs functions corresponding to those performed by the foregoing officers.F. "Qualified stock option" and "employee stock purchase plan" shall be defined as those terms are defined in Sections 422 and 423 of the Internal Revenue Code of 1954, as amended (26 U.S.C. §§ 422 and 423).G. "Restricted stock option" shall be defined as that term is defined in Section 424(b) of the Internal Revenue Code of 1954, as amended (26 U.S.C. § 424(b)); provided for the purposes of this Section an option which meets all of the conditions of that Section other than the date of issuance shall be deemed to be a "restricted stock option".230 R.I. Code R. 230-RICR-20-45-5.1