Vermont § 4847 Subscribers’ advisory committee

Vermont Statutes

§ 4847 — Subscribers’ advisory committee

Vermont § 4847

Title 8Title 8: Banking and Insurance

Ch. 132Chapter 132: Reciprocal Insurers

This text of Vermont § 4847 (Subscribers’ advisory committee) 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, § 4847 (2026).

Text

(a)The advisory committee of a domestic reciprocal insurer exercising the subscribers’ rights shall be selected under such rules as the subscriber adopts.

(b)Not less than two-thirds of the committee shall be subscribers.

(c)The committee shall:

(1)supervise the finances of the insurer;

(2)supervise the insurer’s operations to such extent as to ensure conformity with the subscribers’ agreement and power of attorney;

(3)procure the audit of the accounts and records of the insurer and of the attorney at the expense of the insurer; and

(4)have such additional powers and functions as may be conferred by the subscribers’ agreement. (Added 1971, No. 31, § 1, eff. March 31, 1971; amended 2003, No. 55, § 5; 2021, No. 105 (Adj. Sess.), § 233, eff. July 1, 2022.)

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(a) The advisory committee of a domestic reciprocal insurer exercising the subscribers’ rights shall be selected under such rules as the subscriber adopts.
(b) Not less than two-thirds of the committee shall be subscribers.
(c) The committee shall:
(1) supervise the finances of the insurer;
(2) supervise the insurer’s operations to such extent as to ensure conformity with the subscribers’ agreement and power of attorney;
(3) procure the audit of the accounts and records of the insurer and of the attorney at the expense of the insurer; and
(4) have such additional powers and functions as may be conferred by the subscribers’ agreement. (Added 1971, No. 31, § 1, eff. March 31, 1971; amended 2003, No. 55, § 5; 2021, No. 105 (Adj. Sess.), § 233, eff. July 1, 2022.)