Title 08, Title 08: Banking and Insurance

§ 4585. Required contract provisions Contracts entered into by a medical service corporation shall be in writing, one copy of which shall be furnished to the subscriber. The contract shall contain the following provisions: (1) A statement of the amount payable to the corporation …

§ 4585a. Optometrists; visual services Whenever any policy of insurance or any medical service plan or hospital service contract or hospital and medical service contract provides for reimbursement for any visual service that is within the lawful scope of practice of a duly licens…

§ 4586. Form and contents of contract In every such contract made, issued, or delivered in this State: (1) all printed portions shall be plainly printed in type of which the face is not smaller than 10 point; (2) there shall be a brief description of the contract on its first pag…

§ 4587. Filing and approval of contracts A medical service corporation that has received a permit from the Commissioner of Financial Regulation under section 4584 of this title shall not thereafter issue a contract to a subscriber or charge a rate that is different from copies of…

§ 4588. Annual report to Commissioner Annually, on or before March 1, a medical service corporation shall file with the Commissioner of Financial Regulation a statement sworn to by the president and treasurer of the corporation showing its condition on December 31, which shall be…

§ 4589. Investments Funds of a medical service corporation may be invested in any prudent investment as permitted for an insurance company formed under chapter 101 of this title. The corporation shall file and obtain the Commissioner’s prior approval of its investment guidelines.…

§ 4590. Tax exemption A medical service corporation shall be exempt from all forms of taxation except the health care claims tax assessed pursuant to 32 V.S.A. § 10402. (Amended 2003, No. 70 (Adj. Sess.), § 4, eff. March 1, 2004; 2019, No. 6, § 68, eff. April 22, 2019.)

§ 4591. Effect on liability under workers’ compensation law The provisions of this chapter or any contract for medical service shall in no way affect the liability of an employer under the provisions of the workers’ compensation law. (Amended 1981, No. 165 (Adj. Sess.), § 1.)

§ 4592. Exempt organizations Fraternal benefit societies and life or accident insurance companies are not affected by this chapter.

§ 4593. Reciprocal provisions A corporation organized under the laws of another state or country that, except as to state of organization, is a medical service corporation as defined by section 4583 of this title, and that the Commissioner finds has fully complied with the laws o…

§ 4594. Part-time employees A nonprofit medical service corporation shall not exclude part-time employees and shall offer the same insurance benefits to part-time employees as it offers to the employee groups of which the part-time employees would be members if they were full-tim…

§ 4595. Change in control; material transactions; redomestication; establishment or acquisition of control of insurance company subsidiary (a)(1) No corporation permitted to engage in business under this chapter shall merge or consolidate with, sell, transfer, or exchange more th…