Vermont § 3 - Executive Order No. 18-3 (No. 48-80) [State Employee Dental Assistance Plan]

§ 3. Executive Order No. 18-3 (No. 48-80) [State Employee Dental Assistance Plan]

• WHEREAS, the State of Vermont is obligated to provide a certain program of dental
  care benefits to its eligible employees, and WHEREAS, the State has contracted with a licensed insurance company to provide these
  dental benefits beginning July 6, 1980, and WHEREAS, the State wishes to achieve economic benefits for itself by choosing a minimum
  premium type funding, and WHEREAS, such minimum premium insured plan requires certain special banking arrangements, NOW, THEREFORE, I, Richard A. Snelling, by virtue of the authority vested in me as
  Governor, do hereby order and direct that: 1. A special fund entitled “State of Vermont Employee Dental Assistance Plan” be established
  and a depository designated by the State Treasurer; and 2. The portion of the total plan cost designated by the insurance company be deposited
  to this special fund at the required intervals as necessary reserves for claims; and 3. A separate account be established by the Treasurer in a bank designated by the insurance
  company to facilitate the operation of the claim payment system established by the
  insurer. FURTHER, BE IT ORDERED: That the operations of these Special Fund accounts be subject to the same legal compliance
  responsibilities and accountabilities as other state accounts under the direction
  of the State Treasurer, and That appropriate and timely reports of account activity, including deposits, earnings
  and withdrawals, be made by the Commissioner of Finance and the State Treasurer to
  the Secretary of Administration who shall have overall responsibility for the operation
  of the dental assistance plan and this Special Fund. Dated May 7, 1980.