Vermont § 3467 - Qualification of investments

§ 3467. Qualification of investments

• (a) Any restriction, exclusion, or provision appearing in any section of this chapter
  shall apply only with respect to the authorization of the particular section in which
  it appears and shall not be applicable to any other section. The qualification or
  disqualification of an investment under one section shall not prevent its qualification
  in whole or in part under another section, and an investment authorized by more than
  one section may be held under whatever authorizing section the insurer elects. An
  investment may be transferred from time to time at the election of the insurer to
  the authority of any section under which it qualifies whether originally qualifying
  thereunder or not. (b) The qualification of an investment under a particular section of this chapter shall
  be determined as of the date of its acquisition by the insurer or as of the date on
  which the insurer becomes legally obligated to acquire the same as the case may be. (c) As used herein, the word “section” shall include any subsections or specific provisions
  authorizing a particular kind or class of investments. (d) An investment instrument not specifically qualified under this subchapter shall be
  deemed to qualify under this subchapter, based on the underlying nature of the actual
  securities that comprise such investment instrument subject to the prior written permission
  of the Commissioner. (Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 1, subch. 5, art. 3, § 3); amended 1999, No. 84 (Adj. Sess.), § 8, eff. April 19, 2000.)