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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

101

:
INSURANCE COMPANIES GENERALLY






Subchapter

012
:
ACTIONS AND PENALTIES










 

§

3663. Minimum limitation on actions; void policy provisions

A policy of

fire, life, accident, liability or burglary insurance, or an indemnity, surety

or fidelity contract or bond issued or delivered in this state by an insurance

company doing business herein shall not contain a condition or clause limiting

the time of commencement of an action on such policy or contract to a period

less than 12 months from the occurrence of the loss, death, accident or

default, nor a condition or clause making an award by appraisers, fixing the

amount of loss by the insured or beneficiary in such policy or contract, a

condition precedent to bringing or maintaining an action on such policy or

contract. Any such conditions or clauses shall be null and void. (1967, No. 344

(Adj. Sess.), § 1 (ch. 1, subch. 13, § 3).)