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
001
:
GENERAL PROVISIONS
(Cite as: 8 V.S.A. § 6019)
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§ 6019. Rules for controlled unaffiliated business
The Commissioner may adopt rules establishing standards to ensure that a parent or
its affiliated company, or an industrial insured or its affiliated company, is able
to exercise control of the risk management function of any controlled unaffiliated
business to be insured by a pure captive insurance company or an industrial insured
captive insurance company, respectively; provided, however, that, until such time
as rules under this section are adopted, the Commissioner may approve the coverage
of such risks by a pure captive insurance company or an industrial insured captive
insurance company. (Added 1997, No. 49, § 16, eff. June 26, 1997; amended 2003, No. 55, § 7; 2007, No. 49, § 13.)