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
:
MUTUAL WORKERS' COMPENSATION INSURANCE ASSOCIATIONS
(Cite as: 8 V.S.A. § 4369)
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§ 4369. Reserve requirements
Members of an association formed pursuant to the provisions of this subchapter shall
be required to pay yearly in advance cash premiums and in addition thereto an amount
in negotiable notes or cash sufficient to maintain a reserve equal to that required
of other companies doing the same class of business. Notes shall be payable in whole
or in part on the vote of the directors of the association as such payments may be
required to meet estimated losses or expenses in excess of the current cost and to
meet claims covering losses not payable within the same fiscal year within which the
claim originated. The directors may fix rates of interest on either notes or balances. (Amended 2021, No. 105 (Adj. Sess.), § 183, eff. July 1, 2022.)