Vermont § 7119 Assuming company; Board; principal place of business; registered agent

Vermont Statutes

§ 7119 — Assuming company; Board; principal place of business; registered agent

Vermont § 7119

Title 8Title 8: Banking and Insurance

Ch. 147Chapter 147: Legacy Insurance Transfers

This text of Vermont § 7119 (Assuming company; Board; principal place of business; registered agent) 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, § 7119 (2026).

Text

No assuming company shall be a party to a legacy insurance transfer under this chapter unless:

(1)its board of directors or committee of managers holds at least one meeting each year in this State;

(2)it maintains its principal place of business in this State; and

(3)it appoints a registered agent to accept service of process and to otherwise act on its behalf in this State, provided that whenever such registered agent cannot with reasonable diligence be found at the registered office of the assuming company, the Secretary of State shall be an agent of such assuming company upon whom any process, notice, or demand may be served. (Added 2013, No. 93 (Adj. Sess.), § 3, eff. Feb. 19, 2014.)

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No assuming company shall be a party to a legacy insurance transfer under this chapter unless:
(1) its board of directors or committee of managers holds at least one meeting each year in this State;
(2) it maintains its principal place of business in this State; and
(3) it appoints a registered agent to accept service of process and to otherwise act on its behalf in this State, provided that whenever such registered agent cannot with reasonable diligence be found at the registered office of the assuming company, the Secretary of State shall be an agent of such assuming company upon whom any process, notice, or demand may be served. (Added 2013, No. 93 (Adj. Sess.), § 3, eff. Feb. 19, 2014.)