The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 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 113 : Liability Insurance and Service Contract Companies
Subchapter 004 : Service Contract Companies
(Cite as: 8 V.S.A. § 4255)-
§ 4255. Penalties; enforcement
(a) The Commissioner, after proper notice and opportunity for hearing in accordance with this State’s Administrative Procedure Act, may take action to enforce the provisions of this subchapter and may:
(1) revoke or suspend the registration of the service contract provider;
(2) order the provider to cease and desist from further service contract operations;
(3) impose a penalty of not more than $1,000.00 for each violation or $10,000.00 for each violation the Commissioner finds to be willful; and
(4) order the provider to make restitution to contract holders.
(b) Failure to comply with section 4251 or 4253 of this title shall constitute an unfair or deceptive act in commerce enforceable under 9 V.S.A. § 2461(b). (Added 1997, No. 109 (Adj. Sess.), § 2, eff. Sept. 1, 1998.)
