2021-2022 Session
Change SessionS.88 (Act 25)
An act relating to insurance, banking, and securities
Sen. Ann Cummings
5/13/2021 - Senate Message, signed by Governor May 12, 2021
- Sponsor(s)
- Last Recorded Action
- House 5/13/2021 - Senate Message, signed by Governor May 12, 2021
Bill/Resolution Text
- Other Text
-
NOTE: to print information that appears on a tab within the bill page, use the Print link on that tab.
An act relating to insurance, banking, and securities
Detailed Status
Regular Session 2021-2022
| Body | Date | Journal | Calendar | Location | Full Status |
|---|
An act relating to insurance, banking, and securities
Roll Call History
Regular Session 2021-2022
| Body | Date | Journal | Location | Full Status |
|---|
Although procedurally bills and resolutions are assigned to only one committee at a time, other committees may review the bill or resolution. This page contains results from both the assigned committee as well as other committees.
An act relating to insurance, banking, and securities
Committee Meetings
Regular Session 2021-2022
| Meeting Date | Committee |
|---|
An act relating to insurance, banking, and securities
Meeting Full List
Regular Session 2021-2022
Wednesday, February 24, 2021
- Committee(s):
- Senate Committee on Finance
- 3:45 PM
-
S.88 - An act relating to insurance, banking, and securities
Walk-through
Jill Rickard, Director of Policy, Department of Financial Regulation
Molly Dillon, Deputy Commissioner, Banking, Department of Financial Regulation
Maria Royle, Legislative Counsel, Office of Legislative Counsel
Wednesday, March 10, 2021
- Committee(s):
- Senate Committee on Finance
- 10 Min After the Floor
-
S.88 - An act relating to insurance, banking, and securities
Captive Amendment, Discussion and Possible Vote
Abby Shepard, Legislative Counsel, Office of Legislative Counsel
Jill Rickard, Director of Policy, Department of Financial Regulation
David Provost, Deputy Commissioner, Captive Insurance Division, Department of Financial Regulation
Friday, March 12, 2021
- Committee(s):
- Senate Committee on Finance
- 1:30 PM
-
S.88 - An act relating to insurance, banking, and securities
Committee Discussion and Vote
Tuesday, April 6, 2021
- Committee(s):
- House Committee on Commerce and Economic Development
- 9:00 AM
-
S.88 - An act relating to insurance, banking, and securities
Maria Royle, Legislative Counsel, Office of Legislative Counsel
Jill Rickard, Director of Policy, Department of Financial Regulation
Molly Dillon, Deputy Commissioner, Banking, Department of Financial Regulation
David Provost, Deputy Commissioner, Captive Insurance Division, Department of Financial Regulation
Wednesday, April 7, 2021
- Committee(s):
- House Committee on Commerce and Economic Development
- 9:00 AM
-
S.88 - An act relating to insurance, banking, and securities
David Provost, Deputy Commissioner, Captive Insurance Division, Department of Financial Regulation
James Feehan, Lobbyist, Vermont Captive Insurance Association
- 9:45 AM
-
S.88 - An act relating to insurance, banking, and securities
Discussion of amendment.
Maria Royle, Legislative Counsel, Office of Legislative Counsel
Mark up and possible vote.
Jill Rickard, Director of Policy, Department of Financial Regulation
Charles Storrow, Lobbyist, American International Group
Emily Brown, Director of Rates and Forms, Department of Financial Regulation
Friday, April 9, 2021
- Committee(s):
- House Committee on Commerce and Economic Development
- 2:30 PM
-
S.88 - An act relating to insurance, banking, and securities
This bill now includes H.294.
Jennifer Carbee, Deputy Chief Counsel, Office of Legislative Counsel
Committee discussion, mark up and possible vote.
James Feehan, Lobbyist, Vermont Dental Society
Chris Delia, President, Vermont Bankers' Association
Jill Rickard, Director of Policy, Department of Financial Regulation
Charles Storrow, Lobbyist, American International Group
Wednesday, April 14, 2021
- Committee(s):
- House Committee on Ways and Means
- 10:00 AM
-
S.88 - An act relating to insurance, banking, and securities
Maria Royle, Legislative Counsel, Office of Legislative Counsel
Dan Dickerson, Fiscal Analyst, Joint Fiscal Office
Michael Pieciak, Commissioner, Department of Financial Regulation
Wednesday, April 14, 2021
- Committee(s):
- House Committee on Commerce and Economic Development
- 9:45 AM
-
S.88 - An act relating to insurance, banking, and securities
Committee discussion and vote on Marcotte Amendment to S.88.
- 11:33 AM
-
S.88 - An act relating to insurance, banking, and securities
House Healthcare Ammendment to S.88.
Rep. Anne B. Donahue, Reporter
- 12:14 PM
-
S.88 - An act relating to insurance, banking, and securities
Committee discussion of possible proposal of amendment.
Michael Pieciak, Commissioner, Department of Financial Regulation
Jill Rickard, Director of Policy, Department of Financial Regulation
Kevin Gaffney, Deputy Commissioner, Department of Financial Regulation, Insurance Division
- 2:04 PM
-
S.88 - An act relating to insurance, banking, and securities
Committee discussion and vote on substitute Marcotte Amendment.
Maria Royle, Legislative Counsel, Office of Legislative Counsel
Tuesday, April 20, 2021
- Committee(s):
- Senate Committee on Finance
- 3:05 PM
-
S.88 - An act relating to insurance, banking, and securities
House Proposal of Amendment
Maria Royle, Legislative Counsel, Office of Legislative Counsel
Jennifer Carbee, Deputy Chief Counsel, Office of Legislative Counsel
Thursday, April 22, 2021
- Committee(s):
- Senate Committee on Finance
- 3:00 PM
-
S.88 - An act relating to insurance, banking, and securities
House Proposal of Amendment
Michael Fisher, Chief Health Care Advocate, Office of the Health Care Advocate, Vermont Legal Aid
Jamie Feehan, Lobbyist, Vermont Dental Society
Stephen Pitmon, Vermont Dental Society
Charles Storrow, Lobbyist, Delta Dental Plan of Vermont, Inc.
Friday, April 23, 2021
- Committee(s):
- Senate Committee on Finance
- 4:10 PM
-
S.88 - An act relating to insurance, banking, and securities
Committee Amendment
Thursday, April 29, 2021
- Committee(s):
- House Committee on Commerce and Economic Development
- 9:00 AM
-
S.88 - An act relating to insurance, banking, and securities
Maria Royle, Legislative Counsel, Office of Legislative Counsel
Committee Documents
An act relating to insurance, banking, and securities
Witnesses Who Testified
Regular Session 2021-2022
House Committee on Commerce and Economic Development
- Emily Brown, Director of Rates and Forms, Department of Financial Regulation
- Jennifer Carbee, Deputy Chief Counsel, Office of Legislative Counsel
- Chris Delia, President, Vermont Bankers' Association
- Molly Dillon, Deputy Commissioner, Banking, Department of Financial Regulation
- Rep. Anne B. Donahue, Reporter
- James Feehan, Lobbyist, Vermont Captive Insurance Association
- James Feehan, Lobbyist, Vermont Dental Society
- Kevin Gaffney, Deputy Commissioner, Department of Financial Regulation, Insurance Division
- Michael Pieciak, Commissioner, Department of Financial Regulation
- David Provost, Deputy Commissioner, Captive Insurance Division, Department of Financial Regulation
- Jill Rickard, Director of Policy, Department of Financial Regulation
- Maria Royle, Legislative Counsel, Office of Legislative Counsel
- Charles Storrow, Lobbyist, American International Group
House Committee on Ways and Means
- Dan Dickerson, Fiscal Analyst, Joint Fiscal Office
- Michael Pieciak, Commissioner, Department of Financial Regulation
- Maria Royle, Legislative Counsel, Office of Legislative Counsel
Senate Committee on Finance
- Jennifer Carbee, Deputy Chief Counsel, Office of Legislative Counsel
- Molly Dillon, Deputy Commissioner, Banking, Department of Financial Regulation
- Jamie Feehan, Lobbyist, Vermont Dental Society
- Michael Fisher, Chief Health Care Advocate, Office of the Health Care Advocate, Vermont Legal Aid
- Stephen Pitmon, Vermont Dental Society
- David Provost, Deputy Commissioner, Captive Insurance Division, Department of Financial Regulation
- Jill Rickard, Director of Policy, Department of Financial Regulation
- Maria Royle, Legislative Counsel, Office of Legislative Counsel
- Abby Shepard, Legislative Counsel, Office of Legislative Counsel
- Charles Storrow, Lobbyist, Delta Dental Plan of Vermont, Inc.
Fiscal notes and materials available on this web page are provided for informational purposes only, and may not comprise all materials received by the Vermont Legislature or the final fiscal information related to a specific bill. The Legislature is not responsible for the accuracy of any information in these materials, and their posting does not constitute approval or endorsement by the Legislature.
Fiscal Information
Fiscal Notes and Related Documents
- S.88 (Act 25) An act relating to insurance, banking, and securities, As passed by the General Assembly
- S.88 An act relating to insurance, banking, and securities–House Commerce And Economic Development Recommendation Of Amendment–Draft 1.3
No committee of conference members found for S.88 in the Regular Session 2021-2022.
An act relating to insurance, banking, and securities
Committee of Conference Meetings
Regular Session 2021-2022
| Meeting Date | Committee |
|---|
An act relating to insurance, banking, and securities
Committee of Conference Meeting Full List
Regular Session 2021-2022
No committee of conference meeting history found for S.88 in the Regular Session 2021-2022.
No committee of conference report found for S.88 in the Regular Session 2021-2022.
Act
- Signed into law 5/12/2021
- As Enacted (ACT 25)
- Act Summary
An act relating to insurance, banking, and securities
Statutes Affected
Regular Session 2021-2022
| Statute |
|---|
| 8 V.S.A. § 15a. Insurance regulatory sandbox; innovation waiver; sunset |
| 8 V.S.A. § 23. Confidentiality of investigation and examination reports |
| 8 V.S.A. § 2102. Application for license |
| 8 V.S.A. § 2105. Contents of license; nontransferable |
| 8 V.S.A. § 2109. Annual renewal of license |
| 8 V.S.A. § 2120. Annual report; call reports |
| 8 V.S.A. § 2122. Use of other names or business places |
| 8 V.S.A. § 2201. Licenses required |
| 8 V.S.A. § 2405. Periodic reports; examinations; cooperative agreements |
| 8 V.S.A. § 2760b. Prohibited activities |
| 8 V.S.A. § 4077. Termination; comprehensive major medical policies; grace period |
| 8 V.S.A. § 4089h. Cancellation or nonrenewal of health insurance coverage |
| 8 V.S.A. §§ 4121-4126. Repealed. 1995, No. 180 (Adj. Sess.), § 37. |
| 8 V.S.A. § 4121. Definitions |
| 8 V.S.A. § 4122. Fees for covered dental services |
| 8 V.S.A. § 4806. Suspension, revocation, or termination of license |
| 8 V.S.A. § 6002. Licensing; authority |
| 8 V.S.A. § 6004. Minimum capital and surplus; letter of credit |
| 8 V.S.A. § 6006. Formation of captive insurance companies in this State |
| 8 V.S.A. § 6006a. Mergers |
| 8 V.S.A. § 6006b. Redomestication |
| 8 V.S.A. § 6007. Reports and statements |
| 8 V.S.A. § 6034c. Protected cell conversion |
| 8 V.S.A. § 6034e. Repealed. 2021, No. 25, § 25, eff. May 12, 2021. |
| 8 V.S.A. § 6053. Risk retention groups not chartered in this State |
| 8 V.S.A. § 6056. Notice and registration requirements of purchasing groups |
| 8 V.S.A. § 8301. Definitions |
| 8 V.S.A. § 8302. Risk-based capital report |
| 8 V.S.A. § 8303. Company action level event |
| 8 V.S.A. § 8307. Hearings |
| 8 V.S.A. § 8308. Confidentiality and prohibition on announcements |
| 8 V.S.A. § 8312. Confidentiality of risk-based capital reports |
| 9 V.S.A. § 5410. Filing fees |
| 18 V.S.A. § 9422. Credit card payments optional for providers |
