Vermont § 80 - Insurance Regulatory and Supervision Fund

§ 80. Insurance Regulatory and Supervision Fund

• (a) There is hereby created a fund to be known as the Insurance Regulatory and Supervision
  Fund for the purpose of providing the financial means for the Commissioner of Financial
  Regulation to administer Parts 3 and 6, except chapter 133 of this title, and except
  as provided under subsection 6017(a) of this title. All fees and assessments received by the Department pursuant to such administration
  shall be credited to this Fund. All fines and administrative penalties, however, shall
  be deposited directly into the General Fund. (b) All payments from the Insurance Regulatory and Supervision Fund for the maintenance
  of staff and associated expenses, including contractual services as necessary, shall
  be disbursed from the State Treasury only upon warrants issued by the Commissioner
  of Finance and Management, after receipt of proper documentation regarding services
  rendered and expenses incurred. (c) Annually, $30,000.00 shall be transferred from the Fund to the Fire Service Training
  Council Special Fund established in 20 V.S.A. § 3157. (d) At the end of each fiscal year, the balance in the Insurance Regulatory and Supervision
  Fund shall be transferred to the General Fund. (e) The Commissioner of Finance and Management may anticipate receipts to the Insurance
  Regulatory and Supervision Fund and issue warrants based thereon. (Added 1985, No. 242 (Adj. Sess.), § 310; amended 1989, No. 225 (Adj. Sess.), § 25(b); 1995, No. 180 (Adj. Sess.), § 38(a); 1999, No. 49, § 216; 1999, No. 87 (Adj. Sess.), § 4; 2003, No. 80 (Adj. Sess.), § 75, eff. March 8, 2004; 2005, No. 71, § 268; 2011, No. 78 (Adj. Sess.), § 2, eff. April 2, 2012.)