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ACT NO. 17

(S.61)

Vermont Life and Health Insurance Guaranty Association

This act amends the statute dictating the composition of the Vermont Life and Health Insurance Guaranty Association that protects persons insured by insurers going through liquidation or rehabilitation. At least one-half of the five-to-nine member Board of Directors of the Association was required to be comprised of officers, directors or employees of domestic insurers. Vermont currently only has two domestic insurers and the requirement was changed to include at least one Board member from a domestic insurer.

Effective Date: July 1, 2001