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Proposed Rules and Public Comment

ANNOUNCEMENT

Plan of Merger by and Between Green Mountain Credit Union (continuing credit union) and Opportunities Credit Union (merging credit union) 

Adopted by Green Mountain Credit Union’s Board of Directors | March 27, 2025 | 11 am 
Adopted by Opportunities Credit Union’s Board of Directors | March 28, 2025 | 12 pm

The post-merger number of directors will be seven (7). View the Proposed Merger in detail.

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Proposed Rule and Public Comment Period 

Title of Rule: Insurance Holding Company Systems
DFR Regulation Number: Reg. I-1971-02 (Revised)

Public Comment Period

  • A virtual public hearing will be held June 13, 2025, at 11AM (Access to the Online Meeting).
  • The public comment period ends June 20, 2025.

Brief Summary of Rule 

The Insurance Holding Company Systems Rule sets out the rules and procedural requirements necessary to carry out 8 V.S.A. Chapter 101, Subchapter 13, which establishes regulatory requirements governing registration, acquisitions and other transactions and solvency of insurance holding company systems as a whole (and not limited to insurance companies within the system). The update is necessary to bring the rule into compliance with 8 V.S.A. §§ 3681, 3684, and 3685 as modified by Act 110 (H.659) of 2024. The revisions to the rule are intended to provide regulators with more transparency regarding insurance holding company systems as a whole and to make risks and solvency concerns within the system easier to identify. Changes to the rule clarify some of the statutory exemptions to filing requirements and required terms in agreements for cost sharing and management services. Other changes are for clarity and to simplify the process for filing certain documents.

Rule Filing Documents

Contacts

For Questions Regarding the Public Meeting Document Access and Website Information
     DFR Assistant General Counsel Russ McCracken • russ.mccracken@vermont.gov

For Questions Regarding Public Comments or to Submit a Public Comment 
     DFR Assistant General Counsel Dan Raddockdan.raddock@vermont.gov