§4183. Definitions

Link to law: http://legislature.vermont.gov/statutes/section/08/112/04183
Published: 2015

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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

112

:
LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION






Subchapter

002
:
HEALTH MAINTENANCE ORGANIZATION GUARANTY ASSOCIATION










 

§

4183. Definitions

As defined in

this subchapter:

(1)

"Association" means the Vermont Health Maintenance Organization

Guaranty Association created under this subchapter.

(2)

"Commissioner" means the Commissioner of Financial Regulation of this

State.

(3)

"Contractual obligation" means any obligation under covered health

care plan certificates.

(4)

"Covered person" means any member or person who is entitled to the

protection of the Association as described in section 4181 of this title.

(5)

"Covered health care plan certificate" means any health care plan

certificate, contract, or other evidence of coverage within the scope of this

subchapter.

(6)

"Fund" means the Fund created under section 4184 of this title.

(7)

"Impaired organization" means a member organization deemed by the

Commissioner after May 21, 1993 to be unable or potentially unable to fulfill

its contractual obligations, and not an insolvent organization.

(8)

"Insolvent organization" means a member organization which becomes

insolvent and is placed under a final order of liquidation or rehabilitation by

a court of competent jurisdiction.

(9) "Member

organization" means any person who holds a certificate of authority under

chapter 139 of this title, and includes any person whose certificate of authority

has been suspended, revoked, or nonrenewed.

(10)

"Premiums" means direct gross premiums or subscriptions received on

covered health care plan certificates.

(11)

"Person" means any individual, corporation, partnership, association,

or voluntary organization.

(12)

"Resident" means any person who resides in this State at the time the

organization is determined to be impaired or insolvent and to whom contractual

obligations are owed. A person may be a resident of only one state. In the case

of a person other than a natural person, residence shall be its principal place

of business. (Added 1993, No. 30, § 15, eff. May 21, 1993; amended 1995, No.

180 (Adj. Sess.), § 38; 2011, No. 78 (Adj. Sess.), § 2, eff. April 2, 2012.)
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