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2017 Vermont Statutes
Title 8 - Banking and Insurance
Chapter 105 - Fire And Casualty Insurance
§ 3920 Doing business as an assessment cooperative corporation or a nonassessment cooperative corporation
Universal Citation: 8 V.S.A. § 3920
§ 3920. Doing business as an assessment cooperative corporation or a nonassessment cooperative corporation
(a) An assessment cooperative corporation shall not be authorized or permitted to begin or do business until it has bona fide applications for insurance on property whose total aggregate dollar exposure value at risk amounts to not less than $2,500,000.00.
(b) A nonassessment cooperative insurance corporation is one that has received approval of the Commissioner and has met the requirements of subsections 3930(a) and (b) of this title. (Amended 1981, No. 6, § 5.)
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