The Vermont Statutes Online

Title 8: Banking and Insurance

Chapter 101: INSURANCE COMPANIES GENERALLY


NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.


 
 Sub-Chapter 1: Formation
 
§ 3301   Purposes
§ 3301a   Insurance defined
§ 3302   Plan of organization; incorporators
§ 3303   Mutual companies; directors, charter provisions as to
§ 3304   Capital and surplus requirements
§ 3305   Petition; hearing
§ 3306   Duties of secretary of state, records
§ 3307   Consideration for stock
§ 3308   List of stockholders; certificate to transact business; liability of president and directors
§ 3308a   Reorganization formations
§ 3309   Mutual insurers to commence business; when
§ 3310   Amendment of charter
§ 3311   Quorum
§ 3312   Construction with other laws
§ 3313   Proxies
§ 3314   Annual financial statements; reports; filing fee
§ 3315   Coordinated regulation
 
 Sub-Chapter 2: Foreign And Alien Companies Licensing And Regulation
 
§ 3361   Requirements for license
§ 3362   Authority to transact various kinds of insurance business
§ 3363   Revocation of license
§ 3364   Authorization for investment purposes only
§ 3365   Plan of organization
§ 3366   Assets of companies
§ 3367   Retaliatory provisions
§ 3368   Transacting business without certificate of authority prohibited
§ 3368a   Unauthorized and misleading transactions
§ 3369   Commissioner may enjoin unauthorized insurer
§ 3370   Service of process upon unauthorized insurer by director
§ 3371   Limits of risk
§ 3381   Legislative purpose and policy
§ 3382   Acts which constitute secretary of state agent for service of process
§ 3383   Service upon the secretary of state; notice to defendant
§ 3384   Service upon other agents; notice to defendant
§ 3385   Repealed. 1971, No. 185 (Adj. Sess.), { 237, eff. March 29, 1972.
§ 3386   Effect on other modes of service
§ 3387   Prerequisites to defense of action
§ 3388   Postponements
§ 3389   Motion to quash for improper service
§ 3390   Attorney fees
 
 Sub-Chapter 3: Mergers, Consolidations, Conversions, Mutualizations, Bulk Reinsurance, Subsidiaries
 
§ 3421   Mutualization of stock insurer
§ 3422   Mutual insurers-Prohibitions
§ 3423   Converting mutual insurer or mutual insurance holding company
§ 3424   Procedure for merger
§ 3425   Procedure for consolidation
§ 3426   Effective date of merger or consolidation
§ 3427   Voting
§ 3428   Rights of dissenting shareholders
§ 3429   Rights of dissenting members or policyholders
§ 3430   Effect of merger or consolidation
§ 3431   Merger or consolidation between domestic and foreign insurers-Requirements
§ 3432   Transfer of deposits
§ 3433   Certificates of fees and commissions paid
§ 3434   Fees-Penalty for receiving
§ 3435   Repealed. 1993, No. 235 (Adj. Sess.), { 11.
§ 3436   Repealed. 1999, No. 84 (Adj. Sess.), { 7, eff. April 19, 2000.
§ 3437   Redomestication; approval as a domestic insurer
§ 3438   Redomestication; conversion to foreign insurer
§ 3439   Effects of redomestication
§ 3440   Redomestication; fees
 
 Sub-Chapter 3A: Mutual Insurance Holding Companies
 
§ 3441   Formation of a mutual insurance holding company
§ 3442   Merger of mutual insurance company into an existing mutual insurance holding company; merger and acquisition by mutual insurance holding
§ 3443   Regulated as an insurance company
§ 3444   Demutualization of a mutual insurance holding company
§ 3445   Membership interest not a security
§ 3446   Filing of amended charters
 
 Sub-Chapter 4: Investments And Loans
 
§ 3461   Definitions
§ 3461a   General limitations and diversification requirements for property and casualty, financial guaranty and mortgage guaranty insurers
§ 3461b   General limitations and diversification requirements for life and health insurers
§ 3461c   Rated credit investments
§ 3461d   Registration or filing exemption
§ 3462   Investments-Foreign insurers
§ 3463   Domestic insurers
§ 3463a   Valuation of investments
§ 3464   Repealed. 1981, No. 15, { 3.
§ 3465   Exemption from investment limitations
§ 3466   Repealed. 1999, No. 84 (Adj. Sess.), { 7, eff. April 19, 2000.
§ 3467   Qualification of investments
§ 3468   Investments qualified under prior law
§ 3469   Loans to directors and officers-Restrictions
§ 3470   Mortgage loans to minors
§ 3471   Mortgages on real and personal property as liens; priorities
§ 3472   Earnings statements and income ratios-Special situations
 
 Sub-Chapter 5: Reserves; Deposits; Pensions
 
§ 3501   Life insurance and annuities
§ 3502   Insurance-Other life insurance and annuities
§ 3503   Deposits of domestic insurer doing foreign business
§ 3504   Pension system
 
 Sub-Chapter 6: Filing Of Policy Forms
 
§ 3541   Filing and approval of forms
§ 3542   Grounds for disapproval
§ 3543   Existing forms and filings
 
 Sub-Chapter 7: Examination And Reports
 
§ 3551   Repealed. 2007, No. 49, { 6.
§ 3552   Fees assessed by the National Association of Insurance Commissioners
§ 3553   3553-3560. [Reserved.]
§ 3561   Annual statement
§ 3562   Time reports due
§ 3563   Examination of companies; fees
§ 3564   Examination of foreign insurers; expenses
§ 3565   Examination of officers and books
§ 3566   Penalty for refusal
§ 3567   Liquor liability insurance records
§ 3568   Preservation of records
§ 3569   National Association of Insurance Commissioners filing requirements
§ 3570   Immunity
§ 3571   Confidentiality
§ 3572   Revocation of certificate of authority
§ 3573   Conduct of examinations
§ 3574   Examination reports
§ 3575   Conflict of interest
§ 3576   Immunity from liability
§ 3577   Requirements for actuarial opinions
§ 3578   Repealed. 2013, No. 29, { 24, eff. May 13, 2013.
§ 3578a   Annual financial reporting
§ 3579   Qualified accountants
 
 Sub-Chapter 7A: Own Risk And Solvency Assessment
 
§ 3581   Purpose; scope; intent
[Section 3581 effective January 1, 2015.]
§ 3582   Definitions
[Section 3582 effective January 1, 2015.]
§ 3583   Risk management framework
[Section 3583 effective January 1, 2015.]
§ 3584   ORSA requirement
[Section 3584 effective January 1, 2015.]
§ 3585   Summary report
[Section 3585 effective January 1, 2015.]
§ 3586   Exemption
[Section 3586 effective January 1, 2015.]
§ 3587   Contents of ORSA summary report
[Section 3587 effective January 1, 2015.]
§ 3588   Confidentiality
[Section 3588 effective January 1, 2015.]
§ 3589   Sanctions
[Section 3589 effective January 1, 2015.]
 
 Sub-Chapter 8: Reorganization; Receivership; Injunctions
 
§ 3591   3591- 3603. Repealed . 1991, No. 45, Section 3, eff. May 29, 1991.
§ 3604   Offset
[Section 3604 repealed by 1991, No. 45, { 3; see note set out below.]
 
 Sub-Chapter 9: Property And Casualty Insurance Guaranty Association
 
§ 3611   Scope of subchapter; short title
§ 3612   Definitions
§ 3613   Creation of association
§ 3614   Board of directors
§ 3615   Powers and duties of association
§ 3616   Plan of operation
§ 3617   Powers and duties of commissioner
§ 3618   Effect of paid claims
§ 3619   Nonduplication of recovery
§ 3620   Prevention of insolvencies
§ 3621   Examination of association
§ 3622   Tax exemption
§ 3623   Recognition of assessments in rates
§ 3624   Immunity
§ 3625   Stay of proceedings; reopening of default judgment
§ 3626   Prohibition against advertising of membership in association
 
 Sub-Chapter 10: Reinsurance Of Risks
 
§ 3631   3631- 3633. Repealed . 1985, No. 145 (Adj. Sess.), Section 4.
§ 3634   Repealed. 1991, No. 249 (Adj. Sess.), { 12.
§ 3634a   Credit for reinsurance
§ 3635   Insolvency of ceding company
§ 3636   Reinsurance contract
 
 Sub-Chapter 11: Payments To Nonresidents' Estates
 
§ 3641   Claims, rights, title and interests of nonresidents
§ 3642   Liability for payments to nonresidents
 
 Sub-Chapter 12: Actions And Penalties
 
§ 3661   Cease and desist powers; prosecutions and penalties
§ 3662   Nonpayment of judgment; penalty
§ 3663   Minimum limitation on actions; void policy provisions
§ 3664   Forms; filing proof of loss and other documents, waiver of filing
§ 3665   Timely payment of claims; interest; damages
 
 Sub-Chapter 12A: Arson; Disclosure Of Information
 
§ 3671   Disclosure of information
§ 3672   Immunity
§ 3673   Penalty for noncompliance
 
 Sub-Chapter 13: Holding Companies And Subsidiaries
 
§ 3681   Definitions
§ 3682   Subsidiaries of insurers
§ 3683   Acquisition of control of or merger with domestic insurer
§ 3683a   Acquisitions involving insurers not otherwise covered
§ 3684   Registration of insurers
§ 3685   Standards and management of an insurer within an insurance holding company system
§ 3686   Examination
§ 3687   Confidential treatment
§ 3688   Rules and regulations
§ 3689   Injunctions; prohibitions against voting securities; sequestration of voting securities
§ 3690   Sanctions
§ 3691   Receivership
§ 3692   Revocation, suspension, or nonrenewal of insurer's license
§ 3693   Judicial review
§ 3694   Recovery
§ 3695   Supervisory colleges

  • Full text of Chapter 101.