2011 Vermont Code
Title 08 Banking and Insurance
Chapter 113 LIABILITY INSURANCE
§ 4248 Registration required

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TITLE 8

Banking and Insurance

PART III

Insurance

CHAPTER 113. LIABILITY INSURANCE

Subchapter IV. Service Contract Companies

§ 4248. Registration required

(a) All providers of service contracts issued, sold or covering property located in this state shall file a registration with the commissioner on a form prescribed by the commissioner. Such registrations shall be renewed every three years. Providers shall submit a $600.00 fee at the time of registration and at the time of each renewal.

(b) The following are exempt from the scope of this subchapter, inclusive of this subchapter:

(1) Warranties;

(2) Maintenance agreements; and

(3) Service contracts sold or offered for sale in commercial transactions.

(c) The types of agreements defined as service contracts in this subchapter or excluded from coverage by subsection (b) of this section are not insurance under Vermont law.

(d) A foreign or alien provider shall not transact business in this state until it has either registered with the secretary of state to do business in Vermont, or if it is not registered to do business in Vermont, filed with the commissioner the name and address of a person in this state upon whom service of process may be served. Failure to file such information with the commissioner within 60 days of entering into a Vermont service contract, shall constitute an appointment by such provider of the secretary of state as its agent for service of process. (Added 1997, No. 109 (Adj. Sess.), { 2, eff. Sept. 1, 1998.)