Vermont § 2252 Registration; financial stability

Vermont Statutes

§ 2252 — Registration; financial stability

Vermont § 2252

Title 8Title 8: Banking and Insurance

Ch. 74Chapter 074: Consumer Litigation Funding Companies

This text of Vermont § 2252 (Registration; financial stability) 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, § 2252 (2026).

Text

(a)A company shall not engage in the business of consumer litigation funding without first filing a registration with the Commissioner on a form prescribed by the Commissioner and submitting a registration fee and proof of financial stability.

(b)A company shall file with the Commissioner evidence of its financial stability, which shall include proof of a surety bond or irrevocable letter of credit issued and confirmed by a financial institution authorized by law to transact business in Vermont that is equal to double the amount of the company’s largest funded amount in Vermont in the prior three calendar years or $50,000.00, whichever is greater. (Added 2015, No. 128 (Adj. Sess.), § A.1; amended 2017, No. 22, § 1, eff. May 4, 2017; 2019, No. 20, § 34.)

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(a) A company shall not engage in the business of consumer litigation funding without first filing a registration with the Commissioner on a form prescribed by the Commissioner and submitting a registration fee and proof of financial stability.
(b) A company shall file with the Commissioner evidence of its financial stability, which shall include proof of a surety bond or irrevocable letter of credit issued and confirmed by a financial institution authorized by law to transact business in Vermont that is equal to double the amount of the company’s largest funded amount in Vermont in the prior three calendar years or $50,000.00, whichever is greater. (Added 2015, No. 128 (Adj. Sess.), § A.1; amended 2017, No. 22, § 1, eff. May 4, 2017; 2019, No. 20, § 34.)