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The Vermont Statutes Online
Title
08
:
Banking and Insurance
Chapter
105
:
FIRE AND CASUALTY INSURANCE
Subchapter
004
:
RESERVE FUND
§
4001. Assessments; accumulations; limitation
Domestic mutual
fire insurance companies, in any year in which the assessments required to pay
losses and expenses would not equal five percent of the face of its premium
notes, may lay assessments not to exceed five percent and carry the amount not
necessary to pay losses and expenses of such year to a surplus account for the
payment of future fire losses and expenses. Such surplus shall at no time
exceed 10 percent of the face of the premium notes then in force.