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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 8 : Banking and Insurance

Chapter 159 : RISK BASED CAPITAL FOR INSURERS

(Cite as: 8 V.S.A. § 8309)
  • § 8309. Supplemental provisions

    (a) The provisions of this chapter are in addition to any other provisions of the laws of this State, and shall not preclude or limit any other powers or duties of the Commissioner under such laws, including chapter 145 of this title.

    (b) The Commissioner may adopt rules necessary for the implementation of this chapter.

    (c) The Commissioner may exempt from the application of this chapter any domestic property and casualty insurer which:

    (1) writes direct business only in this State;

    (2) writes direct annual premiums of $2,000,000.00 or less; and

    (3) assumes no reinsurance in excess of five percent of direct premium written. (Added 1993, No. 235 (Adj. Sess.), § 8, eff. June 21, 1994; amended 2013, No. 29, § 41, eff. May 13, 2013.)