Vermont § 4483 Reinsurance

Vermont Statutes

§ 4483 — Reinsurance

Vermont § 4483

Title 8Title 8: Banking and Insurance

Ch. 121Chapter 121: Fraternal Benefit Societies

This text of Vermont § 4483 (Reinsurance) 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, § 4483 (2026).

Text

A domestic society may, by a reinsurance agreement, cede any individual risk or risks in whole or in part to an insurer (other than another fraternal benefit society) having the power to make such reinsurance and authorized to do business in this State or, if not so authorized, one which is approved by the Commissioner of Financial Regulation, but no such society may reinsure substantially all of its insurance in force without the written permission of the Commissioner of Financial Regulation. It may take credit for the reserves on such ceded risks to the extent reinsured, but no credit shall be allowed as an admitted asset or as a deduction from liability, to a ceding society for reinsurance made, ceded, renewed, or otherwise becoming effective after November 22, 1959, unless the reinsura

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A domestic society may, by a reinsurance agreement, cede any individual risk or risks in whole or in part to an insurer (other than another fraternal benefit society) having the power to make such reinsurance and authorized to do business in this State or, if not so authorized, one which is approved by the Commissioner of Financial Regulation, but no such society may reinsure substantially all of its insurance in force without the written permission of the Commissioner of Financial Regulation. It may take credit for the reserves on such ceded risks to the extent reinsured, but no credit shall be allowed as an admitted asset or as a deduction from liability, to a ceding society for reinsurance made, ceded, renewed, or otherwise becoming effective after November 22, 1959, unless the reinsurance is payable by the assuming insurer on the basis of the liability of the ceding society under the contract or contracts reinsured without diminution because of the insolvency of the ceding society. (Added 1959, No. 197, § 23, eff. Nov. 22, 1959; amended 1989, No. 225 (Adj. Sess.), § 25; 1995, No. 180 (Adj. Sess.), § 38; 2011, No. 78 (Adj. Sess.), § 2, eff. April 2, 2012.)