Vermont § 4492 - Funds
Full text of Vermont Vermont Statutes Online § 4492 — Funds, with citation guidance and answers to common questions.
§ 4492. Funds
- (a) All assets shall be held, invested, and disbursed for the use and benefit of the society,
and a member or beneficiary shall not have or acquire individual rights in such assets
or become entitled to any apportionment or the surrender of any part of such assets,
except as provided in the contract. (b) A society may create, maintain, invest, disburse, and apply any special fund or funds
necessary to carry out any purpose permitted by the laws of the society. (c) Every society, the admitted assets of which are less than the sum of its accrued liabilities
and reserves under all of its certificates when valued according to standards required
for certificates issued after one year from November 22, 1959 shall, in every provision
of the laws of the society for payments by members of the society, in whatever form
made, distinctly state the purpose of them and the proportion of them that may be
used for expenses, and no part of the money collected for mortuary or disability purposes
or the net accretions of such money shall be used for expenses. (Added 1959, No. 197, § 32, eff. Nov. 22, 1959; amended 2021, No. 105 (Adj. Sess.), § 200, eff. July 1, 2022.)
Frequently Asked Questions About Vermont § 4492
What does Vermont Statutes Online § 4492 cover?
Section 4492 ("Funds") 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 § 4492?
A common citation format is "Vermont Statutes Online § 4492" (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 § 4492 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.