Vermont § 7031 - Definitions As used in this chapter:

§ 7031. Definitions As used in this chapter:

• (1) “Ancillary state” means any state other than a domiciliary state. (2) “Commissioner” means the Commissioner of Financial Regulation. (3) “Creditor” is a person having any claim, whether matured or unmatured, liquidated
  or unliquidated, secured or unsecured, absolute, fixed, or contingent. (4) “Delinquency proceeding” means any proceeding instituted against an insurer for the
  purpose of liquidating, rehabilitating, reorganizing, or conserving such insurer,
  and any summary proceeding under sections 7041 and 7042 of this title. “Formal delinquency proceeding” means any liquidation or rehabilitation proceeding. (5) “Department” means the Department of Financial Regulation. (6) “Doing business,” as used in this chapter only, includes any of the following acts,
  whether effected by mail or otherwise: (A) the issuance or delivery of contracts of insurance to persons resident in this State; (B) the solicitation of applications for contracts of insurance, or other negotiations
  preliminary to the execution of contracts of insurance; (C) the collection of premiums, membership fees, assessments or other consideration for
  contracts of insurance; (D) the transaction of matters subsequent to execution of contracts of insurance and arising
  out of them; or (E) operating under a license or certificate of authority, as an insurer, issued by the
  Commissioner. (7) “Domiciliary state” means the state in which an insurer is incorporated or organized
  or, in the case of an alien insurer, its state of entry. (8) “Fair consideration” is given for property or obligation: (A) when in exchange for such property or obligation, as a fair equivalent therefore,
  and in good faith, property is conveyed or services are rendered or an obligation
  is incurred or an antecedent debt is satisfied; or (B) when such property or obligation is received in good faith to secure a present advance
  or antecedent debt in amount not disproportionately small as compared to the value
  of the property or obligation obtained. (9) “Foreign country” means any other jurisdiction not in any state. (10) “General assets” mean all property, real, personal, or otherwise, not specifically
  mortgaged, pledged, deposited, or otherwise encumbered for the security or benefit
  of specified persons or classes of persons. As to specifically encumbered property,
  “general assets” include all such property or its proceeds in excess of the amount
  necessary to discharge the sum or sums secured thereby. Assets held in trust and
  on deposit for the security or benefit of all policyholders or all policyholders and
  creditors, in more than a single state, shall be treated as general assets. (11) “Guaranty association” means the Vermont Property and Casualty Insurance Guaranty
  Association created in accordance with the provisions of chapter 101, subchapter 9
  of this title, the Vermont Life and Health Insurance Guaranty Association created
  in accordance with the provisions of chapter 112 of this title, and any other similar
  entity now or hereafter created by the General Assembly of this State for the payment
  of claims of insolvent insurers. “Foreign guaranty association” means any similar
  entities now in existence in or hereafter created by the legislature of any other
  state. (12) “Insolvency” or “insolvent” means: (A) for an insurer issuing only assessable insurance policies: