Vt. Stat. Ann. tit. 8, § 3613
Creation of Association
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
There is created a nonprofit unincorporated legal entity to be known as the Vermont Property and Casualty Insurance Guaranty Association. All insurers defined as member insurers in subdivision 3612(6) of this title shall be and remain members of the Association as a condition of their authority to transact business in this State. The Association shall perform its functions under a plan of operation established and approved under section 3616 of this title and shall exercise its powers through a Board of Directors established under section 3614 of this title. For purposes of administration and assessment, the Association shall be divided into three separate accounts:
There is created a nonprofit unincorporated legal entity to be known as the Vermont Property and Casualty Insurance Guaranty Association. All insurers defined as member insurers in subdivision 3612(6) of this title shall be and remain members of the Association as a condition of their authority to transact business in this State. The Association shall perform its functions under a plan of operation established and approved under section 3616 of this title and shall exercise its powers through a Board of Directors established under section 3614 of this title. For purposes of administration and assessment, the Association shall be divided into three separate accounts:
(1) the workers' compensation insurance account;
(1) the workers’ compensation insurance account;
(2) the automobile insurance account; and
(2) the automobile insurance account; and
(3) the account for all other insurance to which this subchapter applies. Added 1969, No. 279 (Adj. Sess.), § 5; amended 1979, No. 18, § 8; 1981, No. 165 (Adj. Sess.), § 1.
(3) the account for all other insurance to which this subchapter applies.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.