Vermont § 8310 - Foreign insurers
Full text of Vermont Vermont Statutes Online § 8310 — Foreign insurers, with citation guidance and answers to common questions.
§ 8310. Foreign insurers
- (a) A foreign insurer shall, upon the written request of the Commissioner, submit to the
Commissioner a risk-based capital report for the calendar year just ended. The requested
report shall be filed not later than the later of 15 days from the receipt of notice
to file the report with this State or the filing date provided in subsection 8302(a) of this title. (b) A foreign insurer shall, at the written request of the Commissioner, promptly submit
to the Commissioner a copy of any risk-based capital plan that is filed with the insurance
commissioner of any other state. (c) Upon the occurrence of an event under section 8303 (company action level event), 8304
(regulatory action level event), or 8305 (authorized control level event) of this
title with respect to any foreign insurer as determined under the risk-based capital
statute applicable in the state of domicile of the insurer or, if no risk-based capital
statute is in force in that state, under the provisions of this chapter, if the insurance
commissioner of the state of domicile of the foreign insurer fails to require the
foreign insurer to file a risk-based capital plan in the manner specified under that
state’s risk-based capital statute or, if no risk-based capital statute is in force
in that state, then under section 8303 of this title, the Commissioner may require the foreign insurer to file a risk-based capital plan
with the Commissioner. The failure of the foreign insurer to file a risk-based capital
plan shall be grounds to order the insurer to cease and desist from writing new insurance
business in this State. (d) The Commissioner may make application to the Washington Superior Court for an order
under chapter 145 of this title for the liquidation of property of the insurer found
in this State in the event the insurer has not been placed under such an order in
its state of domicile after reporting an event under section 8305 or 8306 of this title. The occurrence of an event under sections 8305 and 8306 of this title shall be considered adequate grounds for the application. The Commissioner may order
an insurer reporting an event under section 8305 or 8306 to cease and desist from
writing new business in this State. (Added 1993, No. 235 (Adj. Sess.), § 8, eff. June 21, 1994; amended 2013, No. 29, § 42, eff. May 13, 2013.)
Frequently Asked Questions About Vermont § 8310
What does Vermont Statutes Online § 8310 cover?
Section 8310 ("Foreign insurers") 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 § 8310?
A common citation format is "Vermont Statutes Online § 8310" (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 § 8310 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.