Vermont Statutes Title 8 Sec. 4520
Terms Used In Vermont Statutes Title 8 Sec. 4520
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- hospital service corporation: includes any corporation organized under the provisions of this chapter and also any unincorporated association furnishing hospital, medical, surgical, or nursing services, or any combination of these, to subscribers or members, except as provided in section 4519 of this title. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 4520. Reciprocal provisions
A corporation organized under the laws of another state or country that, except as to state of organization, is a hospital service corporation as defined by section 4511 of this title, and that the Commissioner finds has fully complied with the laws of such other state or country, shall be entitled to do business within this State, subject to the provisions of this chapter, after obtaining a license as provided by section 4513 of this title. But such corporation organized under the laws of another state or country shall not be entitled to such license or to do business in this State unless such other state or country grants substantially similar rights and privileges to hospital service corporations organized under the laws of this State. The Commissioner shall determine whether rights and privileges granted by other states or countries are substantially similar to those granted by this State, and his or her determination shall be final.