Vt. Stat. Ann. tit. 8, § 3502
Insurance—Other life insurance and annuities
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
For all policies of insurance other than life insurance and annuities, the insurer shall maintain reserves which shall place a sound value on its liabilities under such policies and which shall not be less than the reserves according to appropriate standards set forth in regulations issued by the Commissioner and, in no event, less in the aggregate than the pro rata gross unearned premium reserve for such policies.
For all policies of insurance other than life insurance and annuities, the insurer shall maintain reserves which shall place a sound value on its liabilities under such policies and which shall not be less than the reserves according to appropriate standards set forth in regulations issued by the Commissioner and, in no event, less in the aggregate than the pro rata gross unearned premium reserve for such policies.
Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 1, subch. 6, § 2).
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.