2011 Vermont Code
Title 08 Banking and Insurance
Chapter 101 INSURANCE COMPANIES GENERALLY
§ 3308a Reorganization formations
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TITLE 8
Banking and Insurance
PART III
Insurance
CHAPTER 101. INSURANCE COMPANIES GENERALLY
Subchapter I. Formation
§ 3308a. Reorganization formations
Notwithstanding sections 3302, 3303, 3304, 3307, 3308 and 3309 of this title, the commissioner may permit the formation of an insurance company without capital or surplus to be merged with or into or consolidated with an existing insurance company authorized to do business under this chapter for the purpose of facilitating a reorganization or acquisition transaction, including a triangular merger transaction, involving such existing company. There shall be no more than one authorized insurance company surviving reorganization under this section. (Added 1997, No. 54, { 1, eff. June 26, 1997.)
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