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.
(Cite as: 8 V.S.A. § 8511)
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§ 8511. Compacting states; effective date and amendment
(a) Any state is eligible to become a compacting state.
(b) The compact shall become effective and binding upon legislative enactment of the compact
into law by two compacting states; provided the Commission shall become effective
for purposes of adopting uniform standards for, reviewing, and giving approval or
disapproval of, products filed with the Commission that satisfy applicable uniform
standards only after 26 states are compacting states or, alternatively, by states
representing greater than 40 percent of the premium volume for life insurance, annuity,
disability income, and long-term care insurance products, based on records of the
NAIC for the prior year. Thereafter, it shall become effective and binding as to any
other compacting state upon enactment of the compact into law by that state.
(c) Amendments to the compact may be proposed by the Commission for enactment by the compacting
states. No amendment shall become effective and binding upon the Commission and the
compacting states unless and until all compacting states enact the amendment into
law. (Added 2005, No. 70, § 2.)