™Your Policy Risk Impact Agent
87 chapters · 1,498 sections in this title.
08 V.S.A. ch. 147, § 7111 Definitions
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§ 7111. Definitions As used in this chapter: (1) “Assuming company” means a Vermont-domiciled company established specifically to acquire a closed block under a legacy insurance transfer plan approved by the Commissioner. (2) “Closed block” means a block, line, or group of commer…
08 V.S.A. ch. 147, § 7112 Application; fee; plan
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§ 7112. Application; fee; plan (a) An assuming company shall file a plan with the Commissioner and, at the time of filing, shall pay to the Commissioner the fee described in subdivision 7116(a)(1) of this chapter. (b) A plan shall include the following: (1) A list of all policies…
08 V.S.A. ch. 147, § 7113 Plan review
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§ 7113. Plan review (a) The Commissioner may retain an actuary to conduct an actuarial study quantifying the liabilities under insurance policies and reinsurance agreements to be transferred to the assuming company under the plan and is authorized to retain any other legal, finan…
08 V.S.A. ch. 147, § 7114 Order
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§ 7114. Order (a) Within 30 days of the date the hearing is held on the plan, the Commissioner shall issue an order setting forth the amount of fees payable by the assuming company under subdivision 7116(a)(2) of this chapter, payable not later than 14 days after the date of such…