Vermont Statutes Title 8 Sec. 4851
Terms Used In Vermont Statutes Title 8 Sec. 4851
- Attorney: means the attorney-in-fact of a reciprocal insurer. See
- Domestic: when applied to a corporation, company, association, or copartnership shall mean organized under the laws of this State; "foreign" when so applied, shall mean organized under the laws of another state, government, or country. See
§ 4851. Time limit for assessments
Every subscriber of a domestic reciprocal insurer having contingent liability shall be liable for, and shall pay his or her share of, any assessment, as computed and limited in accordance with this chapter, if:
(1) while his or her policy is in force or within one year after its termination, he or she is notified by either the attorney or the Commissioner of his or her intentions to levy such assessment; or
(2) if an order to show cause why a receiver, conservator, rehabilitator, or liquidator of the insurer should not be appointed is issued while his or her policy is in force or within one year after its termination. (Added 1971, No. 31, § 1, eff. March 31, 1971.)