The Vermont Statutes Online
The Statutes below include the actions of the 2024 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.
Title 8 : Banking and Insurance
Chapter 141 : Captive Insurance Companies
Subchapter 004 : SPECIAL PURPOSE FINANCIAL INSURANCE COMPANIES
(Cite as: 8 V.S.A. § 6048f)-
§ 6048f. Formation
(a) A special purpose financial insurance company may be incorporated as a stock insurer with its capital divided into shares and held by its stockholders, or it may be organized as a manager-managed limited liability company.
(b) A special purpose financial insurance company’s organizational documents shall limit the special purpose financial insurance company’s authority to transact the business of insurance or reinsurance to those activities that the special purpose financial insurance company conducts to accomplish its purposes as expressed in this subchapter. (Added 2007, No. 49, § 17; amended 2013, No. 29, § 57.)
