Vermont § 3617 - Powers and duties of Commissioner

§ 3617. Powers and duties of Commissioner

• (a) The Commissioner shall: (1) notify the Association of the existence of an insolvent insurer not later than three
  days after he or she receives notice of the determination of the insolvency and furnish
  to the Association a copy of any complaint or order that was served on his or her
  office; and (2) upon request of the Board of Directors, provide the Association with a statement of
  the net written premiums of each member insurer. (b) The Commissioner may: (1) Require that the Association notify the insureds of the insolvent insurer and any
  other interested parties of the determination of insolvency and of their rights under
  this subchapter. Such notification shall be by mail at their last known address,
  where available, but if sufficient information for notification by mail is not available,
  notice by publication in a newspaper of general circulation shall be sufficient. (2) Suspend or revoke, after notice and hearing, the certificate of authority to transact
  insurance in this State of any member insurer that fails to pay an assessment when
  due or fails to comply with the plan of operation. As an alternative, the Commissioner
  may levy a fine on any member insurer that fails to pay an assessment when due. The
  fine shall not exceed five percent of the unpaid assessment per month, except that
  no fine shall be less than $500.00 per month. (3) Revoke the designation of any servicing facility if he or she finds claims are being
  handled unsatisfactorily. (c) Any final action or order of the Commissioner under this subchapter shall be subject
  to judicial review by the Superior Court for the county in which the aggrieved party
  resides, or if a corporation, in which the principal office of the corporation is
  located, or if a nonresident, by the Superior Court for the County of Washington. (Added 1969, No. 279 (Adj. Sess.), § 9; amended 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974; 1979, No. 18, §§ 13, 14; 1995, No. 167 (Adj. Sess.), § 3.)