Introduced by Representatives Martin of Wolcott, Leriche of Hardwick and Smith of Morristown
Subject: Banking and insurance; auto insurance; self-insurance for organizations composed of members
Statement of purpose: This bill proposes to enable organizations composed of members to self-insure their members’ motor vehicles.
AN ACT RELATING TO AUTOMOBILE INSURANCE FOR ORGANIZATIONS COMPOSED OF MEMBERS
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. 8 V.S.A. § 4227a is added to read:
§ 4227a. AUTOMOBILE INSURANCE FOR ORGANIZATIONS
COMPOSED OF MEMBERS
The commissioner shall provide by rule a process and necessary forms by which an organization composed of members may satisfy the requirements of chapter 11 of Title 23 (motor vehicle financial responsibility and insurance) to self-insure the automobiles of the members of the organization.
The Vermont General Assembly
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