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The Vermont Statutes Online

 

Title 8 : Banking and Insurance

Chapter 141 : CAPTIVE INSURANCE COMPANIES

Subchapter 002 : SPONSORED CAPTIVE INSURANCE COMPANIES

(Cite as: 8 V.S.A. § 6036)
  • § 6036. Participants in sponsored captive insurance companies

    (a) Associations, corporations, limited liability companies, partnerships, trusts, risk retention groups, sole proprietorships, and other business entities may be participants in any sponsored captive insurance company formed or licensed under this chapter.

    (b) A sponsor may be a participant in a sponsored captive insurance company.

    (c) A participant need not be a shareholder of the sponsored captive insurance company or any affiliate thereof.

    (d) A participant shall not insure any risks other than its own and the risks of affiliated entities or of controlled unaffiliated entities. (Added 1999, No. 38, § 19, eff. May 20, 1999; amended 2003, No. 55, § 9; 2011, No. 78 (Adj. Sess.), § 40, eff. April 2, 2012; 2015, No. 20, § 6, eff. May 7, 2015; 2019, No. 3, § 7, eff. April 18, 2019.)