Terms Used In Vermont Statutes > Title 8 > Chapter 159 - Risk-Based Capital for Insurers

• Adjusted risk-based capital report: means a risk-based capital report that has been adjusted by the Commissioner in accordance with subsection 8302(e) of this title. See
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Authorized control level risk-based capital: means the number determined under the risk-based capital formula in accordance with the risk-based capital instructions. See
• Company action level risk-based capital: means , with respect to any insurer, the product of 2. See
• 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.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Fraternal benefit society: means any insurance company licensed under chapter 121 of this title. See
• Health maintenance organization: means any entity organized in the State under chapter 139 of this title. See
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Life or health insurer: means an insurance company that insures lives or health as defined in subdivisions 3301(a)(1) and (2) of this title, an entity organized in this State under chapter 123 or 125 of this title, or a licensed property and casualty insurer writing only accident and health insurance. See
• Mandatory control level risk-based capital: means , with respect to any insurer, the product of 0. See
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Negative trend: means , with respect to a life or health insurer or fraternal benefit society, negative trend over a period of time as determined in accordance with the trend test calculation included in the life or fraternal risk-based capital instructions. See
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See
• Regulatory action level risk-based capital: means , with respect to any insurer, the product of 1. See
• Risk-based capital instructions: means the risk-based capital report form and the related instructions adopted by the NAIC and approved by the Commissioner. See
• Total adjusted capital: means the sum of:

• Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See