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
003
:
BRANCH CAPTIVE INSURANCE COMPANIES
(Cite as: 8 V.S.A. § 6046)
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§ 6046. Examination of branch captives
(a) The examination of a branch captive insurance company pursuant to section 6008 of this title shall be of branch business and branch operations only, so long as the branch captive
insurance company provides annually to the Commissioner a certificate of compliance,
or its equivalent, issued by or filed with the licensing authority of the jurisdiction
in which the branch captive insurance company is formed, and demonstrates to the Commissioner’s
satisfaction that it is operating in sound financial condition in accordance with
all applicable laws and regulations of such jurisdiction.
(b) As a condition of licensure, the alien captive insurance company shall grant authority
to the Commissioner for examination of the affairs of the alien captive insurance
company in the jurisdiction in which the alien captive insurance company is formed. (Added 2003, No. 55, § 9.)