Vermont § 1569 - Administrator’s contract with another to conduct examination

§ 1569. Administrator’s contract with another to conduct examination

• (a) As used in this section, “related to the Administrator” refers to an individual who
  is: (1) the Administrator’s spouse, partner in a civil union, domestic partner, or reciprocal
  beneficiary; (2) the Administrator’s child, stepchild, grandchild, parent, stepparent, sibling, stepsibling,
  halfsibling, aunt, uncle, niece, or nephew; (3) a spouse, partner in a civil union, domestic partner, or reciprocal beneficiary of
  an individual under subdivision (2) of this subsection; or (4) any individual residing in the Administrator’s household. (b) The Administrator may contract with a person to conduct an examination under this
  subchapter. The contract may be awarded only under contracting policies and standards
  approved by the Vermont Secretary of Administration. (c) If the person with which the Administrator contracts under subsection (b) of this
  section is: (1) an individual, the individual may not be related to the Administrator; or (2) a business entity, the entity may not be owned in whole or in part by the Administrator
  or an individual related to the Administrator. (d) At least 60 days before assigning a person under contract with the Administrator under
  subsection (b) of this section to conduct an examination, the Administrator shall
  demand in a record that the person to be examined submit a report and deliver property
  that is previously unreported. (e) If the Administrator contracts with a person under subsection (b) of this section: (1) the contract may provide for compensation of the person based on a fixed fee, hourly
  fee, or contingent fee; (2) a contingent fee arrangement may not provide for a payment that exceeds 10 percent
  of the amount or value of property paid or delivered as a result of the examination;
  and (3) on request by a person subject to examination by a contractor, the Administrator shall
  deliver to the person a complete and unredacted copy of the contract and any contract
  between the contractor and a person employed or engaged by the contractor to conduct
  the examination. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)