Vermont Administrative Code

The current Vermont Milk Control Board formula for producer milk premium, currently set at $ .40 cwt. over the Milk Control Board blend price for 3.5% butterfat content milk shall be suspended, and accordingly, the price paid to producers and associations of producers for their m…

1. WHOLESALE PRICES shall apply to all stores, hotels, restaurants, hospitals, schools and other incidental wholesale trade, and shall also apply to the prices charged to all persons, associations, business units or entities who sell to stores, hotels, restaurants, hospitals, sch…

Part I APPLICABILITY The procedural rules are adopted pursuant to 6 V.S.A. § 2929 . They apply to the issuance by the Vermont Milk Commission of an order establishing a retail fluid milk premium, or amendment of such order, pursuant to 6 V.S.A. § 2924(e) and 6 V.S.A. Chapter 161,…

Section I DEFINITIONS The terms defined in this section shall have the following meanings: (a) Act means 6 V.S.A. Chapter 24. (b) Board means the Vermont Apple Marketing Board established by 6 V.S.A. Section 252 . (c) Bushel means 40 pounds. (d) Producer means any individual, par…

Section 1.01 Scope. This regulation establishes the procedures for administrative proceedings. This regulation supersedes and replaces Department Regulation No. 82-1 (REVISED). Section 1.02 Definitions. "Commissioner " means the Commissioner of Financial Regulation. "Contested Ca…

REG. I-2021-01 Section 1. Purpose The purpose of this rule is to set forth standards and requirements, pursuant to the authority contained in 8 V.S.A. § 15 and 9402(8) and 9417, for entities engaged in the business of insurance, as defined in 8 V.S.A. § 3301a , that directly or i…

Section 1 Authority. This regulation is adopted and promulgated by the Department of Financial Regulation pursuant to 8 V.S.A. § 3634a(e) , as well as 8 V.S.A. § 15(a) . Section 2 Purpose and Intent. The purpose and intent of this regulation is to establish uniform, national stan…

Section 1 Purpose. A. The purpose of this rule is to require producers, as defined in this rule, to act in the best interest of the consumer when making a recommendation of an annuity and to require insurers to establish and maintain a system to supervise recommendations so that …

Section 1 Purpose. The purpose of this rule is to set forth the requirements and standards for the licensing of persons or entities that establish or operate as a pharmacy benefit manager under 18 V.S.A. § 3611 and 18 V.S.A. Chapter 77. Section 2 Authority. This rule is adopted u…

Section One Applicability and Scope 1.1 This regulation ("Regulation") is issued pursuant to 8 V.S.A. §§ 15 , 2214 , 2766 , 2914 , 11301 , and 30401 . 1.2 This Regulation applies to: a. financial institutions as defined in 8 V.S.A. § 11101(32) ; b. credit unions as defined by 8 V…

INTRODUCTION: Regulation B-06-1 supersedes former credit union regulation B-83-1, and is promulgated by the Commissioner under the authority established by 8 V.S.A. Section 30203 . Section I Minimum Bond Coverage 1. The governing body of each credit union shall acquire and mainta…

INTRODUCTION: Regulation B-2014-02 supersedes and replaces Mortgage Broker Regulation B-96-1. Section 1 Authority and Purpose This regulation is promulgated pursuant to Title 8 VSA Section 15 and Section 2214 Its purpose is to set forth rules for the licensing and regulation of M…

Section 1 Authority and Purpose This Regulation is promulgated pursuant to Title 8 Sections 75 and 2055, for the purpose of defining the term "household member" for use in establishing credit union membership. Section 2 Definition "Household member" for purposes of Section 2055 o…

Section 1 Authority, Scope and Purpose This regulation is promulgated pursuant to Title 9 V.S.A. § 103 , and applies to every mortgage loan, as hereinafter defined. Title 9 V.S.A. §§ 103(a) and (b) require that lenders issue commitment letters in connection with residential mortg…

Section 1 Authority and Purpose This regulation is promulgated pursuant to Title 9 V.S.A. § 104 , for the purposes of specifying the form, content and timing of the disclosures required by Title 9 V.S.A. § 104 (the "Disclosure"), to increase the flow of information to consumers a…

Section 1 Authority and Purpose This regulation is promulgated pursuant to Title 9 V.S.A. § 43 , for the purposes of promoting the informed use of consumer credit by requiring the inclusion of specific minimum contract terms in the cardholder agreement, in the furtherance of cons…

Section 1 Authority, Scope and Purpose This Regulation is promulgated pursuant to Title 8 V.S.A. § 2084. This Regulation establishes procedures for the conversion of a federal credit union to a credit union chartered under Title 8, Vermont Statutes Annotated, Chapter 71. Complian…

Section One Authority, Scope, and Purpose 1.1 This Regulation is issued by the Department of Financial Regulation pursuant to authority granted by 8 V.S.A. § 15 ; 8 V.S.A. § 10403 ; and 3 V.S.A. § 831(a) . 1.2 This Regulation applies to all financial institutions as defined in 8 …

Section 1 Authority, Scope and Purpose This regulation is promulgated pursuant to 8 V.S.A. §§ 30203 and 32401 for the purpose of setting guidelines for credit unions to make member business loans. This regulation provides the basis for a system of member business lending that is …

REGULATION IH-2001-01 (Revised) ARTICLE I. GENERAL PROVISIONS Section 1. Authority. This regulation is promulgated pursuant to the authority granted by 8 V.S.A. §§ 10 , 15, 3381 , 3541-3543, 3688 , 3858 , 4062 , 4108 , 4113 , 4201 , 4362 , 4373 , 4464 , 4480 , 4481 , 4515a , 4587…

Section 1 Authority and Scope 1.1 This regulation is promulgated pursuant to the authority granted by 8 V.S.A. § 15 and 9 V.S.A. § 2355(f)(1)(J). 1.2 This regulation shall apply to all motor vehicle retail installment transactions governed by Title 9 V.S.A. Chapter 59. Section 2 …

Section 1 Purpose The purpose of this Regulation is to set forth certain minimum standards concerning the policy provisions for accident and sickness insurance and to outline those requirements governing solicitation of such products so as to provide reasonable standardization an…

WHEREAS the insurance laws of this State and particularly 8 VSA § 4084 prohibit the transmission of information in the form of advertisements or otherwise in such a manner or of such substance that the insurance buying public may be deceived or misled thereby; and WHEREAS said in…

Section A Purpose and Authority The purpose of this Regulation is to establish an equitable and practical assessment procedure as requires by Chapter 128, 8 V.S.A., Section 4703 . The Assessment procedure established by this Regulation will pay for expenses incurred in establishi…

Section 1 Purpose and Authority The purpose of this regulation is to set forth the financial and reporting requirements which the commissioner deems necessary for the regulation of captive insurance companies, as authorized by the Captive Insurance Company Act, 8 V.S.A., Section …

Section 1 Purpose and Authority The purpose of this regulation is to protect the interests of debtors and the public in this state by providing a system of rate, policy form, and operating standards for the transaction of credit life and credit accident and health insurance. This…

Section 1 Disclosure of Diminution of Coverage In the event an insurance company eliminates or modifies coverage, conditions, or definitions in any policy in force or at renewal that results in a diminution of benefits, the company must provide each named insured or policyowner a…

Section 1 Purpose 8 V.S.A. § 4724(9) of the Insurance Trade Practices Act ( 8 V.S.A. §§ 4721-4726) prohibits insurers doing business in Vermont from engaging in unfair claims settlement practices and provides that if any insurer performs any of the acts or practices prescribed by…

Section 1 Authority This regulation is promulgated pursuant to the authority granted by 8 V.S.A. § 15 and subchapter 13 of chapter 101. Section 2 Purpose The purpose of this regulation is to set forth rules and procedural requirements which the Commissioner deems necessary to car…

Section 1 Purpose and Scope A. The purpose of this regulation is: (1) To regulate the activities of insurers and producers with respect to the replacement of existing life insurance and annuities. (2) To protect the interests of life insurance and annuity purchasers by establishi…

Section 1 AUTHORITY This rule is adopted and promulgated by the Commissioner of Banking and Insurance pursuant to the general authority granted in Sections 75 and 4902 of the Insurance Code and also Sections 4723 and 4724 of the Insurance Trade Practices in the Vermont Title 8 In…

Section 1 PURPOSE This regulation is promulgated to eliminate unfair discrimination in health insurance policies and contracts covering Vermont residents. Currently, men are able to purchase health insurance policies which provide coverage for virtually all types of medical expen…

Part A ANNUITY MORTALITY TABLES Section A 1 Authority Part A of Regulation I-88-4 is promulgated by the Commissioner of the Vermont Department of Financial Regulation pursuant to 8 V.S.A., Section 3784 , of the Vermont Insurance Statutes. Section A 2 Purpose The purpose of Part A…

Section 1 Purpose and Scope (A) The purpose of this regulation is to set forth procedures for submitting: (1) property and casualty form filings required by 8 V.S.A. Section 3541 ; (2) property and casualty rates, supplementary rate information, and supporting rate information re…

Section 1 Purpose and Authority This regulation is promulgated pursuant to 8 V.S.A. Sections 75 and 4691 . The purpose of this regulation is to set forth the manner of reporting and the kinds of data that are to be included in financial and statistical reports required to be subm…

Action 1. This regulation is promulgated pursuant to authority granted by 8 V.S.A., Section 75. The purpose of this regulation is to identify specific acts or practices which are prohibited by 8 V.S.A., Chapter 129, Section 4724(7) (Insurance Trade Practices). The following are h…

Article I AUTHORITY Section I Authority The following regulations applicable to variable life insurance policies are promulgated under the authority of 8 V.S.A., Section 3858 , the Insurance Laws of Vermont, and are effective January 1, 1989. Nothing in these regulations shall be…

Section 1 Purpose and Authority This rule is promulgated pursuant to and in accordance with the provisions of Title 24, Chapter 121, Subchapter 6 of the Vermont Statutes Annotated. The purpose of this rule is to set forth rules, forms and procedures regarding Intermunicipal Insur…

Section 1 Purpose The purpose of this regulation is to set forth rules for the hiring of independent experts to analyze proposed rate increases in Medicare supplement health insurance policies pursuant to Title 33 V.S.A. § 6706 . Section 2 Authority This regulation is issued purs…

Section 1 PURPOSE The purpose of this regulation is to set forth the rules for registration of small group carriers, requirements for the sale of individual insurance and the standards and process for approval of common health care plans. Section 2 AUTHORITY This regulation is is…

Section 1 Authority This regulation is promulgated pursuant to the authority granted in 8 V.S.A. § 75. Section 2 Purposes The purposes of this regulation are: A. To protect the interests of the insurance-buying public by establishing limitations on the concentration of medium gra…

Section 1 Authority This regulation is promulgated pursuant to the authority granted by 8 VSA § 15 and Chapters 101, 123, 125, 139, 141, 142, 145 and 151 Section 2 Purpose The purpose of this regulation is to set forth the standards which the Commissioner may use for identifying,…

Section 1 Authority This Regulation is promulgated pursuant to the authority granted by 8 V.S.A. §§ 75 and 3634a . Section 2 Preamble A. The Vermont Department of Banking, Insurance and Securities recognizes that licensed insurers routinely enter into reinsurance agreements that …

Section 1 Purpose The purpose of this regulation is to promote efficiency and cost savings in the payment of health insurance claims by the use of common claim forms and procedures and to improve the availability and consistency of health services information. Section 2 Authority…

Section 1 Purpose The purpose of this regulation is to set forth rules for the enrollment of registered non-group carriers, requirements for the sale of individual insurance, requirements for the filing of rates, and standards and the process for approval of common health care pl…

Section 1 CONTRACTS REQUIRED: MANAGING GENERAL AGENTS Any contract between an insurer and a managing general agent required by 8 V.S.A. § 4818 shall, in addition to the specifics set forth in § 4818: A. Set forth appropriate underwriting guidelines including: 1. The maximum annua…

Section 1 Purpose The purpose of this regulation is to ensure the sufficiency of funds held by third parties when the intended beneficiaries of the funds are insured, insurance policy applicants or insurers. Section 2 Authority This regulation is issued pursuant to the authority …