Vermont § 3857 - Licensing
Full text of Vermont Vermont Statutes Online § 3857 — Licensing, with citation guidance and answers to common questions.
§ 3857. Licensing
- (a) No company shall deliver or issue for delivery within this State variable contracts
unless it is licensed or organized to do a life insurance or annuity business in this
State, and the Commissioner is satisfied that its condition or method of operation
in connection with the issuance of such contracts will not render its operation hazardous
to the public or its policyholders in this state. In this connection, the Commissioner
shall consider among other things: (1) the history and financial condition of the company; (2) the character, responsibility and fitness of the officers and directors of the company;
and (3) the law and regulation under which the company is authorized in the state of domicile
to issue variable contracts. (b) If the company is a subsidiary of an admitted life insurer, or affiliated with such
insurer through common management or ownership, it may be deemed by the Commissioner
to have met the provisions of this section if either it or the parent or the affiliated
insurer meets the requirements hereof. (Added 1971, No. 106, § 3, eff. April 22, 1971.)
Frequently Asked Questions About Vermont § 3857
What does Vermont Statutes Online § 3857 cover?
Section 3857 ("Licensing") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 3857?
A common citation format is "Vermont Statutes Online § 3857" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 3857 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.