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.
Subchapter
006
:
INTERMUNICIPAL INSURANCE AGREEMENTS
(Cite as: 24 V.S.A. § 4944)
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§ 4944. Approval of agreements
(a) No association organized under this subchapter shall receive funds from any municipality
for the purpose of distributing, sharing, or pooling any risk until a plan for the
operation of the association together with all contracts, agreements, and any other
documents underlying or implementing the plan, and all amendments thereto, have been
approved by the Commissioner of Financial Regulation.
(b) The Commissioner shall adopt rules to assist in the formation of such associations
and to expedite approval of any plan of operation. The Commissioner shall also adopt
rules relating to the administration and operation of such associations in order to
provide for the fiscal integrity of agreements entered into under section 4942 of this title and to provide that trade, market, and claim practices engaged in by such associations
are equitable, fair, and consistent. In adopting such rules, the Commissioner shall
recognize that such associations are undertaking an essential governmental function
and that they shall not be considered insurance companies nor insurers under the laws
of this State. (Added 1985, No. 237 (Adj. Sess.), § 1, eff. June 3, 1986; amended 1989, No. 225 (Adj. Sess.), § 25(b); 1995, No. 180 (Adj. Sess.), § 38(a).)