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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

141

:
CAPTIVE INSURANCE COMPANIES






Subchapter

003
:
BRANCH CAPTIVE INSURANCE COMPANIES










 

§

6045. Branch captive reports

Prior to March 1

of each year, or with the approval of the Commissioner within 60 days after its

fiscal year-end, a branch captive insurance company shall file with the

Commissioner a copy of all reports and statements required to be filed under

the laws of the jurisdiction in which the alien captive insurance company is

formed, verified by oath of two of its executive officers. If the Commissioner

is satisfied that the annual report filed by the alien captive insurance company

in its domiciliary jurisdiction provides adequate information concerning the

financial condition of the alien captive insurance company, the Commissioner

may waive the requirement for completion of the captive annual statement for

business written in the alien jurisdiction. (Added 2003, No. 55, § 9.)