The Vermont Statutes Online
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
NOTE: The online version of the Vermont Statutes does NOT yet include the actions of the 2023 legislative session. The 2023 updates should be available by the end of October.
Title 8 : Banking and Insurance
Chapter 132 : Reciprocal Insurers
(Cite as: 8 V.S.A. § 4841)-
§ 4841. Deposit in lieu of bond
In lieu of the bond required under section 4840 of this title, the attorney may maintain on deposit in the office of the Commissioner, subject to the same conditions as the bond, a like amount in:
(1) cash;
(2) securities qualified as insurer investments; or
(3) a letter of credit issued for the benefit of and acceptable to the Commissioner. (Added 1971, No. 31, § 1, eff. March 31, 1971; amended 1997, No. 49, § 5, eff. June 26, 1997; 2003, No. 55, § 3.)
