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
005B
:
LIFE SETTLEMENTS
(Cite as: 8 V.S.A. § 3848)
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§ 3848. Civil remedies, penalties, and enforcement
In addition to any other civil and administrative remedies, penalties, and enforcement
authority provided for by law:
(1) A violation of this subchapter or of a rule or order adopted or issued under this
subchapter, including the commission of a fraudulent life settlement act, shall constitute
an unfair trade practice under chapter 129 of this title (Insurance Trade Practices)
and shall be subject to the remedies, penalties, and enforcement authority provided
for in chapter 129 of this title. The Commissioner may report any violation of this
subchapter to the Attorney General, who may prosecute therefor if he or she deems
desirable.
(2) The Commissioner may issue a cease and desist order upon a person that violates any
provision of this subchapter, any rule or order adopted or issued by the Commissioner,
or any written agreement with a licensee entered into with the Commissioner.
(3) When the Commissioner finds that an activity in violation of this subchapter or of
a rule or order adopted or issued by the Commissioner presents an immediate danger
to the public that requires an immediate final order, the Commissioner may issue an
emergency cease and desist order reciting with particularity the facts underlying
the findings. The emergency cease and desist order is effective immediately upon service
of a copy of the order on the respondent and remains effective for 90 days. If the
Commissioner begins nonemergency cease and desist proceedings, the emergency cease
and desist order remains effective absent a petition by the respondent and an order
by a Superior Court of Washington County vacating the Commissioner’s emergency order.
(4) A Commissioner’s order under this section may require a person found to be in violation
of this subchapter to make restitution to persons aggrieved by violations of this
subchapter or to take further actions necessary to remedy violations of this subchapter. (Added 2009, No. 53, § 1, eff. Jan. 1, 2010.)