CAPTIVE INSURANCE
Captive Laws
The Statutes below include the actions of the 2024 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
For actions of the 2023-2024 legislative session see Bill H.659 and Vermont prioritizes quality regulation in legislature as yearly tradition.
Title 8: Banking and Insurance
Chapter 141: Captive Insurance Companies
Subchapter 1: GENERAL PROVISIONS
§ 6004. Minimum capital and surplus; letter of credit
§ 6006. Formation of captive insurance companies in this State
§ 6007. Reports and statements
§ 6008. Examinations and investigations
§ 6009. Grounds and procedures for suspension or revocation of license
§ 6012. Rating organizations; memberships
§ 6013. Exemption from compulsory associations
§ 6014. Tax on premiums collected
§ 6017. Captive Insurance Regulatory and Supervision Fund
§ 6019. Rules for controlled unaffiliated business
§ 6020. Conversion to or merger with reciprocal insurer
§§ 6021-6023. Recodified. 2003, No. 55, § 8, eff. June 30, 2003.
§ 6024. Dormant captive insurance companies
Subchapter 2: SPONSORED CAPTIVE INSURANCE COMPANIES
§ 6033. Supplemental application materials
§ 6034a. Incorporated protected cells
§ 6034b. Separate accounts of protected cells
§ 6034c. Protected cell conversion
§ 6034d. Sale, transfer, or assignment of protected cells
§ 6034e. Repealed. 2021, No. 25, § 25, eff. May 12, 2021.
§ 6034f. Annual report; books and records
§ 6034h. Conversion into protected cell
§ 6035. Qualification of sponsors
§ 6036. Participants in sponsored captive insurance companies
§ 6037. Investments by sponsored captive insurance companies and protected cells
§ 6038. Delinquency of sponsored captive insurance companies
Subchapter 3: BRANCH CAPTIVE INSURANCE COMPANIES
§ 6041. Establishment of a branch captive insurance company
[Section 6043 shall apply only to branch captive companies formed on and after January 1, 2009.]
[Section 6043 shall apply to branch captive companies formed before January 1, 2009.]
§ 6044. Repealed. 2017, No. 90 (Adj. Sess.), § 5, eff. March 8, 2018.
§ 6045. Branch captive reports
§ 6046. Examination of branch captives
§ 6047. Taxation of branch captives
Subchapter 4: SPECIAL PURPOSE FINANCIAL INSURANCE COMPANIES
§ 6048e. Changes in plan of operation; voluntary dissolution or cessation of business
§ 6048g. Minimum capital and surplus
§ 6048i. Permitted reinsurance
§ 6048j. Disposition of assets; investments
§ 6048k. Annual report; books and records
§ 6048l. License suspension and revocation
Subchapter 5: AFFILIATED REINSURANCE COMPANIES
§ 6049e. Minimum capital and surplus
§ 6049f. Permitted reinsurance
§ 6049g. Disposition of assets; investments
§ 6049h. Annual report; books and records
§ 6049i. Insurance holding company systems
§ 6049j. Corporate governance; disclosure
§ 6049k. Own risk and solvency assessment
§ 6049l. Requirements for actuarial opinions
Chapter 142: Risk Retention Groups and Purchasing Groups
§ 6052. Risk retention groups chartered in this State
§ 6053. Risk retention groups not chartered in this State
§ 6054. Compulsory associations
§ 6055. Purchasing groups; exemption from certain laws
§ 6056. Notice and registration requirements of purchasing groups
§ 6057. Restrictions on insurance purchased by purchasing groups
§ 6058. Purchasing group taxation
§ 6060. Duties of agent or brokers to obtain license
§ 6061. Binding effect of orders issued in U.S. District Court
Chapter 142A: Risk Retention Group Managing General Agents, Reinsurance Intermediaries, and Producer Controlled Insurers
§ 6070. Application of chapter