Vermont § 6034c - Protected cell conversion
Full text of Vermont Vermont Statutes Online § 6034c — Protected cell conversion, with citation guidance and answers to common questions.
§ 6034c. Protected cell conversion
- (a)(1) Subject to the prior written approval of the Commissioner, on application of the sponsor
and with the prior consent of each participant of the affected protected cells or
as otherwise permitted pursuant to a participation agreement and the consent of each
affected incorporated protected cell, a sponsored captive insurance company or a sponsored
captive insurance company licensed as a special purpose financial insurance company
may convert one or more protected cells or incorporated protected cells into a: (A) single protected cell or incorporated protected cell; (B) new sponsored captive insurance company; (C) new sponsored captive insurance company licensed as a special purpose financial insurance
company; (D) new special purpose financial insurance company; (E) new pure captive insurance company; (F) new risk retention group; (G) new agency captive insurance company; (H) new industrial insured captive insurance company; or (I) new association captive insurance company. (2) Any such conversion shall be subject to section 6031 and subchapters 1 and 4 of this
chapter, as applicable, as well as to a plan or plans of operation approved by the
Commissioner, without affecting any protected cell’s or incorporated protected cell’s
assets, rights, benefits, obligations, and liabilities.
Frequently Asked Questions About Vermont § 6034c
What does Vermont Statutes Online § 6034c cover?
Section 6034c ("Protected cell conversion") 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 § 6034c?
A common citation format is "Vermont Statutes Online § 6034c" (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 § 6034c 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.