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
:
GENERAL ADMINISTRATION OF CHAPTER
(Cite as: 8 V.S.A. § 4700)
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§ 4700. Examinations
(a) The Commissioner or his or her designee shall examine any insurer, pool, advisory
or service organization, or residual market mechanism as he or she deems necessary
to ascertain compliance with this chapter.
(b) Every insurer, pool, advisory or service organization, and residual market mechanism
shall maintain reasonable records of the type and kind reasonably adapted to its method
of operation containing its experience, or the experience of its affiliated insurers
including the data, statistics, or information collected or used by it in its activities.
These records shall be available at all reasonable times to enable the Commissioner
to determine whether the activities of any advisory or service organization, insurer,
residual market mechanism, or pool comply with the provisions of this chapter. Such
records shall be maintained in an office within this State or shall be made available
to the Commissioner for examination or inspection at any time.
(c) The necessary and reasonable cost of an examination made pursuant to this section
shall be paid by the examined party upon presentation of a detailed account of such
costs.
(d) In lieu of any such examination, the Commissioner may accept the report of an examination
made by the insurance supervisory official of another state, pursuant to the laws
of such state. (Added 1983, No. 238 (Adj. Sess.), § 1.)