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
007
:
EXAMINATION AND REPORTS
(Cite as: 8 V.S.A. § 3573)
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§ 3573. Conduct of examinations
(a) Upon determining that an examination should be conducted, the Commissioner or the
Commissioner’s designee shall issue an examination order appointing one or more examiners
to perform the examination and instructing them as to the scope of the examination.
In conducting a financial or a market conduct examination, the examiner shall observe
those guidelines and procedures set forth in the Examiners’ Handbook adopted by the
National Association of Insurance Commissioners as amended from time to time. The
Commissioner may also use such other guidelines or procedures as the Commissioner
may deem necessary or appropriate under the circumstances.
(b) When making an examination under this section, the Commissioner may retain attorneys,
appraisers, independent actuaries, independent certified public accountants, or other
professionals and specialists, the cost of which shall be borne by the company that
is the subject of the examination.
(c) The Commissioner is authorized to terminate or suspend any examination in order to
pursue other legal or regulatory action pursuant to the insurance laws of this State.
(d) Findings of fact made pursuant to any examination shall be prima facie evidence in
any legal or regulatory action.
(e) The Commissioner is authorized to use and make public any final or preliminary examination
report, any examiner or company work papers or other documents, or any other information
discovered or developed during the course of any examination in the furtherance of
any legal or regulatory action. (Added 1991, No. 249 (Adj. Sess.), § 5; amended 1999, No. 38, § 1, eff. May 20, 1999.)