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
:
HEALTH MAINTENANCE ORGANIZATION GUARANTY ASSOCIATION
(Cite as: 8 V.S.A. § 4172)
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§ 4172. Purpose
The purpose of this chapter is to protect, subject to certain limitations, the persons
specified in subsection 4173(a) of this chapter against failure in the performance
of contractual obligations under life, health, and annuity policies, plans, and contracts
specified in subsection 4173(b) of this chapter, due to the impairment or insolvency
of the member insurer that issued such policies, plans, or contracts. To provide this
protection:
(1) an association of member insurers is created to enable the guaranty of payment of
benefits and of continuation of coverages;
(2) members of the Association are subject to assessment to provide funds to carry out
the purpose of this chapter; and
(3) the Association is authorized to assist the Commissioner, in the prescribed manner,
in the detection and prevention of insurer impairment or insolvency. (Added 2023, No. 32, § 9, eff. July 1, 2023.)