Vermont § 7111 - Definitions As used in this chapter:
Full text of Vermont Vermont Statutes Online § 7111 — Definitions As used in this chapter:, with citation guidance and answers to common questions.
§ 7111. Definitions As used in this chapter:
- (1) “Assuming company” means a Vermont-domiciled company established specifically to acquire
a closed block under a legacy insurance transfer plan approved by the Commissioner. (2) “Closed block” means a block, line, or group of commercial non-admitted insurance
policies or reinsurance agreements or both: (A) that a transferring insurer has ceased to offer, write, or sell to new applicants; (B) for which all policy periods have been fully expired for not less than 60 months; (C) for which active premiums are no longer being paid; and (D) that is not workers’ compensation, health, life, or any other personal line of insurance. (3) “Comment period” means the 60-day period starting on the date notice is issued by
an assuming company under subsection 7112
Frequently Asked Questions About Vermont § 7111
What does Vermont Statutes Online § 7111 cover?
Section 7111 ("Definitions As used in this chapter:") 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 § 7111?
A common citation format is "Vermont Statutes Online § 7111" (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 § 7111 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.