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Searching 2023-2024 Session

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. § 4847)
  • § 4847. Subscribers’ advisory committee

    (a) The advisory committee of a domestic reciprocal insurer exercising the subscribers’ rights shall be selected under such rules as the subscriber adopts.

    (b) Not less than two-thirds of the committee shall be subscribers.

    (c) The committee shall:

    (1) supervise the finances of the insurer;

    (2) supervise the insurer’s operations to such extent as to ensure conformity with the subscribers’ agreement and power of attorney;

    (3) procure the audit of the accounts and records of the insurer and of the attorney at the expense of the insurer; and

    (4) have such additional powers and functions as may be conferred by the subscribers’ agreement. (Added 1971, No. 31, § 1, eff. March 31, 1971; amended 2003, No. 55, § 5; 2021, No. 105 (Adj. Sess.), § 233, eff. July 1, 2022.)