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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.