The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
002
:
FOREIGN AND ALIEN COMPANIES LICENSING AND REGULATION
(Cite as: 8 V.S.A. § 3381)
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§ 3381. Legislative purpose and policy
The purpose of this article is to subject certain insurers to the jurisdiction of
courts of this State by or on behalf of insureds or beneficiaries under insurance
contracts. The Legislature declares that it is a subject of concern that many residents
of this State hold policies of insurance issued or delivered in this State by insurers
while not authorized to do business in this State, thus presenting to such residents
the often insuperable obstacle of resorting to distant forums for the purpose of asserting
legal rights under such policies. In furtherance of such State interest, the Legislature
herein provides a method of substituted service of process upon such insurers and
declares that in so doing it exercises its power to protect its residents and to define,
for the purpose of this article, what constitutes doing business in this State, and
also exercises powers and privileges available to the State by virtue of The McCarran-Ferguson
Act, 15 U.S.C. §§ 1011-1015, which declares that the business of insurance and every person engaged therein shall
be subject to the laws of the several states. (Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 1, subch. 3, § 1).)