Vermont § 7058 - Continuance of coverage
Full text of Vermont Vermont Statutes Online § 7058 — Continuance of coverage, with citation guidance and answers to common questions.
§ 7058. Continuance of coverage
- (a) All policies, including bonds and other noncancellable business, other than life or
health insurance or annuities, in effect at the time of issuance of an order of liquidation
shall continue in force only for the lesser of: (1) a period of 30 days from the date of entry of the liquidation orders; (2) the expiration of the policy coverage; (3) the date when the insured has replaced the insurance coverage with equivalent insurance
in another insurer or otherwise terminated the policy; (4) the liquidator has effected a transfer of the policy obligation pursuant to subdivision 7060(a)(9) of this title; or (5) the date proposed by the liquidator and approved by the court to cancel coverage. (b) An order of liquidation under section 7057 of this title shall terminate coverages at the time specified in subsection (a) of this section
for purposes of any other statute. (c) Policies of life or health insurance or annuities shall continue in force for such
period and under such terms as is provided for by any applicable guaranty association
or foreign guaranty association. (d) Policies of life or health insurance or annuities or any period or coverage of such
policies not covered by a guaranty association or foreign guaranty association shall
terminate under subsections (a) and (b) of this section. (Added 1991, No. 45, § 2, eff. May 29, 1991.)
Frequently Asked Questions About Vermont § 7058
What does Vermont Statutes Online § 7058 cover?
Section 7058 ("Continuance of coverage") 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 § 7058?
A common citation format is "Vermont Statutes Online § 7058" (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 § 7058 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.