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.
(Cite as: 8 V.S.A. § 4846)
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§ 4846. Subscribers
Any individual or entity that is duly organized under the laws of this State or the
laws of another jurisdiction may make application for, enter into agreement for, and
hold policies or contracts in or with and be a subscriber of any domestic, foreign,
or alien reciprocal insurer. Any corporation organized under the laws of this State,
including nonprofit corporations organized under the provisions of Title 11B of the
Vermont Statutes Annotated, shall, in addition to the rights, powers, and franchises
specified in its articles of incorporation, have full power and authority as a subscriber
to exchange insurance contracts through such reciprocal insurer. The right to exchange
such contracts is declared to be incidental to the purposes for which such corporations
are organized and to be as fully granted as the rights and powers expressly conferred
upon such corporations. Government or governmental agencies, state or political subdivisions
thereof, boards, associations, estates, trustees, or fiduciaries are authorized to
exchange nonassessable reciprocal interinsurance contracts with each other and with
individuals and lawful entities to the same extent that individuals and lawful entities
are herein authorized to exchange reciprocal interinsurance contracts. Any officer,
representative, trustee, receiver, or legal representative of any such subscriber
shall be recognized as acting for or on its behalf for the purpose of such contract
but shall not be personally liable upon such contract by reason of acting in such
representative capacity. (Added 1971, No. 31, § 1, eff. March 31, 1971; amended 1997, No. 49, § 6, eff. June 26, 1997; 2009, No. 137 (Adj. Sess.), § 17, eff. May 29, 2010; 2021, No. 105 (Adj. Sess.), § 232, eff. July 1, 2022.)