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The Vermont Statutes Online

 

Title 8 : Banking and Insurance

Chapter 142 : RISK RETENTION GROUPS AND PURCHASING GROUPS

(Cite as: 8 V.S.A. § 6059)
  • § 6059. Administrative and procedural authority regarding risk retention groups and purchasing groups

    The Commissioner is authorized to make use of any of the powers established under this title to enforce the laws of this State not specifically preempted by the Risk Retention Act of 1986, including the Commissioner's administrative authority to investigate, issue subpoenas, conduct depositions and hearings, issue orders, impose penalties, and seek injunctive relief. With regard to any investigation, administrative proceedings, or litigation, the Commissioner can rely on the procedural laws of this State. The injunctive authority of the Commissioner, in regard to risk retention groups, is restricted by the requirement that any injunction be issued by a court of competent jurisdiction. (Added 1991, No. 249 (Adj. Sess.), § 23, eff. Dec. 31, 1992.)