Vermont § 6054 - Compulsory associations

Full text of Vermont Vermont Statutes Online § 6054 — Compulsory associations, with citation guidance and answers to common questions.

§ 6054. Compulsory associations

  • (a) No risk retention group shall be required or permitted to join or contribute financially
    to any insurance insolvency guaranty fund, or similar mechanism, in this State, nor
    shall any risk retention group, or its insureds or claimants against its insureds,
    receive any benefit from any such fund for claims arising under the insurance policies
    issued by such risk retention group. (b) When a purchasing group obtains insurance covering its members’ risks from an insurer
    not authorized in this State or from a risk retention group, no such risks, wherever
    resident or located, shall be covered by any insurance guaranty fund or similar mechanism
    in this State. (c) When a purchasing group obtains insurance covering its members’ risks from a licensed
    insurer, only risks resident or located in this State shall be covered by the State
    Guaranty Fund subject to chapter 112 of this title. (Added 1991, No. 249 (Adj. Sess.), § 23, eff. Dec. 31, 1992.)

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Frequently Asked Questions About Vermont § 6054

What does Vermont Statutes Online § 6054 cover?

Section 6054 ("Compulsory associations") 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 § 6054?

A common citation format is "Vermont Statutes Online § 6054" (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 § 6054 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.