2005 Vermont Code - § 3434. — Fees-Penalty for receiving

§ 3434. Fees-Penalty for receiving

(a) No director, officer or member of any such insurer or insurers except as fully expressed in the affidavits, described in section 3433 of this title, shall receive any fee, commission, other compensation or valuable consideration whatever, direct or indirect, for in any manner aiding, promoting or assisting in such merger, consolidation or reinsurance.

(b) Any person violating the provisions of this section shall be deemed guilty of a misdemeanor, and upon conviction thereof, shall be punished by a fine of not less than $5,000.00 and not more than $15,000.00. (1967, No. 344 (Adj. Sess.), § 1 (ch. 1, subch. 4, § 13); amended 1995, No. 167 (Adj. Sess.), § 2.)