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H.367

Introduced by   Representatives Martin of Wolcott, Leriche of Hardwick and Smith of Morristown

Referred to Committee on

Date:

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.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us