Vermont § 3864 Penalty for violation of sections 3463 and 3862

Vermont Statutes

§ 3864 — Penalty for violation of sections 3463 and 3862

Vermont § 3864

Title 8Title 8: Banking and Insurance

Ch. 105Chapter 105: Fire and Casualty Insurance

This text of Vermont § 3864 (Penalty for violation of sections 3463 and 3862) is published on Counsel Stack Legal Research, covering Vermont primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Vt. Stat. Ann. tit. 8, § 3864 (2026).

Text

Such an insurance company failing to comply with the requirements of sections 3463 and 3862 of this title, within 60 days after notice from the Commissioner, shall reinsure its outstanding risks and proceed to liquidate its affairs, or the Commissioner may apply to the Superior Court for an injunction against such company and its officers. Subsequent proceedings shall be had in accordance with the general provisions of law relating to insurance companies.

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Such an insurance company failing to comply with the requirements of sections 3463 and 3862 of this title, within 60 days after notice from the Commissioner, shall reinsure its outstanding risks and proceed to liquidate its affairs, or the Commissioner may apply to the Superior Court for an injunction against such company and its officers. Subsequent proceedings shall be had in accordance with the general provisions of law relating to insurance companies.