§3864. Penalty for violation of sections 3463 and 3862

Link to law: http://legislature.vermont.gov/statutes/section/08/105/03864
Published: 2015

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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

105

:
FIRE AND CASUALTY INSURANCE






Subchapter

001
:
GENERALLY










 

§

3864. Penalty for violation of sections 3463 and 3862

Such an

insurance company failing to comply with the requirements of sections 3463 and

3862 of this title, within 60 days after notice from the commissioner, shall

reinsure its outstanding risks and proceed to liquidate its affairs, or the

commissioner may apply to the superior court for an injunction against such

company and its officers. Subsequent proceedings shall be had in accordance

with the general provisions of law relating to insurance companies.
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