Vermont § 3366 - Assets of companies

§ 3366. Assets of companies

• (a)(1) A foreign or alien insurer authorized to do business in this State shall possess and
  thereafter maintain unimpaired paid-in capital or basic surplus of not less than $2,000,000.00
  and, when first so authorized, shall possess and maintain free surplus of not less
  than $3,000,000.00. (2) The capital and surplus shall be in the form of cash or marketable securities, a portion
  of which may be held on deposit with the State Treasurer, such securities as designated
  by the insurer and approved by the Commissioner, in an amount and subject to conditions
  determined by the Commissioner. The conditions shall include a requirement that any
  interest or other earnings attributable to such cash or marketable securities shall
  inure to the benefit of the insurer until such time as the Commissioner determines
  that the deposit must be used for the benefit of the policyholders of the insurer
  or some other authorized public purpose relating to the regulation of the insurer. (3) The Commissioner may prescribe additional capital or surplus for all insurers authorized
  to transact the business of insurance based upon the type, volume, and nature of insurance
  business transacted. The Commissioner may reduce or waive the capital and surplus
  amounts required by this section pursuant to a plan of dissolution for the company
  approved by the Commissioner.