Vermont § 7121 - Regulation of assuming companies and service providers
Full text of Vermont Vermont Statutes Online § 7121 — Regulation of assuming companies and service providers, with citation guidance and answers to common questions.
§ 7121. Regulation of assuming companies and service providers
- (a) An assuming company shall be subject to all rules adopted by the Commissioner under
this chapter and also shall be subject to: (1) chapter 145 (supervision, rehabilitation, and liquidation of insurers) of this title; (2) the market conduct and unfair trade practices provisions of chapter 129 (insurance
trade practices) of this title, as deemed applicable by the Commissioner; and (3) in addition to the initial transfer tax required under subsection 7116(b) of this
chapter, an annual renewal fee of $300.00. (b) An assuming company shall not be subject to the requirements of chapter 101, subchapter
9 (Property and Casualty Insurance Guaranty Association) of this title. (c) The Commissioner may adopt rules regarding the provision of services to an assuming
company by persons other than any director, officer, or employee of the assuming company
with respect to the administration of policies and reinsurance agreements assumed
by the assuming company under a legacy insurance transfer, including licensing or
other requirements. (d) The Commissioner may adopt any other rules necessary or appropriate to carry out the
provisions of this chapter. (Added 2013, No. 93 (Adj. Sess.), § 3, eff. Feb. 19, 2014.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 7121
What does Vermont Statutes Online § 7121 cover?
Section 7121 ("Regulation of assuming companies and service providers") 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 § 7121?
A common citation format is "Vermont Statutes Online § 7121" (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 § 7121 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.