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Searching 2019-2020 Session

The Vermont Statutes Online

 

Title 8 : Banking and Insurance

Chapter 141 : CAPTIVE INSURANCE COMPANIES

Subchapter 004 : SPECIAL PURPOSE FINANCIAL INSURANCE COMPANIES

(Cite as: 8 V.S.A. § 6048b)
  • § 6048b. Existing licenses

    Except as otherwise determined by the Commissioner, a captive insurance company that has been licensed by the Commissioner pursuant to this chapter as of the effective date of this subchapter and that is engaged in or that will be engaged in an insurance securitization shall be subject to the provisions of this subchapter as a special purpose financial insurance company. The Commissioner may require such captive insurance company to take any action that the Commissioner determines is reasonably necessary to bring such captive insurance company into compliance with the provisions of this subchapter. The Commissioner may issue an order described in subsection 6048d(b) of this title with respect to such captive insurance company. (Added 2007, No. 49, § 17; amended 2013, No. 29, § 53.)