The Vermont Statutes Online
The Statutes below include the actions of the 2024 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.
Title 8 : Banking and Insurance
Chapter 105 : Fire and Casualty Insurance
Subchapter 004 : RESERVE FUND
(Cite as: 8 V.S.A. § 4002)-
§ 4002. Use of fund
In a year in which the fire losses and expenses of a company accumulating a surplus under the provisions of section 4001 of this title shall exceed the amount of a three percent assessment on the face of the premium notes assessable for such losses and expenses, such excess, to an amount not exceeding three percent by such premium notes, in the discretion of the directors of such company, may be taken from such surplus and applied towards the payment of such excess of losses and expenses.
