reglab/housing_qa huggingface dataset:
8 V.S.A. § 4225a
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4225a. Renewal policies

§ 4225a. Renewal policies|(a) If the insurer has the necessary information to issue the renewal policy, the insurer shall confirm in writing at least 45 days prior to expiration its intention to renew the policy and the premium at which the policy is to be renewed. The insured shall have the right to renew the policy at this premium.(b) An insurer not complying with subsection (a) of this section shall grant its insured renewal coverage at the rate or premium in effect under the expiring or expired policy or at rates lawfully in effect on the expiration date, which have been approved by the Commissioner. This shall be done on a pro rata basis and shall continue for 45 days after the insurer confirms renewal coverage and premium. This subsection shall not apply if the insured accepts the renewal policy.(c) An insurer may transfer a policy to an affiliate, as defined by subdivision 3681(1) of this title, upon expiration of the policy without providing notice of nonrenewal, provided that:  (1) the rating by A. M. Best or a similarly qualified rating service of the affiliate is equal to or better than the transferring insurer; (2) there is no diminution in the terms and conditions of coverage; and (3) notice of the transfer is provided to the insured at least 45 days prior to the transfer by first class mail, and in connection with such notice the insurer:  (A) complies with any requirements of federal law relating to notice of adverse credit determination; (B) includes in the notice of transfer a telephone number of the insurer, or the producer, if any, and a toll free telephone number of the insurer in the case of personal lines policies, where the insured can learn additional information concerning the transfer and the reasons for the transfer; and (C) complies with the other provisions of this section relating to renewal policies. (Added 2007, No. 135 (Adj. Sess.), § 2.)
8 V.S.A. § 4226
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4226. Notice requirements

§ 4226. Notice requirements|When notice required under section 4224 or 4225 of this title is provided by mail, such notice shall be by certified mail, except that in the case of cancellation for nonpayment of premium notice shall be by certified mail or certificate of mailing. (Added 1971, No. 195 (Adj. Sess.), § 5; amended 1975, No. 53, § 3, eff. April 15, 1975; 1977, No. 223 (Adj. Sess.), § 10.)
8 V.S.A. § 4227
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4227. Notice of eligibility

§ 4227. Notice of eligibility|When automobile bodily injury and property damage liability coverage is cancelled, other than for nonpayment of premium, or in the event of failure to renew automobile bodily injury and property damage liability coverage to which section 4225 of this title applies, the insurer shall notify the named insured of his or her possible eligibility for automobile liability insurance through the Vermont Automobile Insurance Plan. Such notice shall accompany or be included in the notice of cancellation or the notice of intent not to renew. (Added 1971, No. 195 (Adj. Sess.), § 6.)
8 V.S.A. § 4228
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4228. Required renewals; continuation of agents' contracts and brokers' accounts

§ 4228. Required renewals; continuation of agents' contracts and brokers' accounts|(a) In the event of an insurer's cancellation of an agent's contract or a broker's account placement authority with such insurer, each policyholder of such an agent or broker shall be entitled to renew his or her policy, upon timely payment of premium, for one additional annual policy period commencing at the next annual anniversary date of the policy; except that an insurer shall have the right to cancel such policy pursuant to section 4223 of this title.(b) The terminated agent or broker shall be entitled to receive commissions on account of all business continued or written pursuant to this section at the insurer's prevailing commission rate for such line of insurance. However, this subsection shall not apply to an agent who agrees to represent exclusively one insurer or a group of insurers under common management or an agent or broker whose license has been revoked by the Commissioner or whose contract or account has been terminated for insolvency, abandonment, gross and willful misconduct, or failure to pay over to the insurer monies due to the insurer after receipt of a written demand therefor.(c) If, after hearing, the Commissioner finds that the financial condition of the insurer is insecure to the extent that continuation of agents' contracts and brokers' accounts represent a potential hazard to the policyholders in this State, or that any other condition of the insurer represents such a hazard, the Commissioner may issue an order relieving the insurer from its obligation to provide the renewal policies otherwise required by subsection (a) of this section. (Added 1985, No. 230 (Adj. Sess.), § 2.)
8 V.S.A. § 4229
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4229. Penalties

§ 4229. Penalties|A person who violates a provision of this subchapter may be subject to an administrative penalty of $2,000.00 for each violation. (Added 1995, No. 167 (Adj. Sess.), § 14a.)
8 V.S.A. § 4241
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4241. Vermont Automobile Insurance Plan

§ 4241. Vermont Automobile Insurance Plan|All insurers licensed to transact business in this State, for the issuance of automobile insurance against bodily injury, property damage, medical payments, or other loss, including what are commonly known as "liability," "collision," "comprehensive," or "uninsured motorist" coverages, and every advisory or service organization operating in this State under chapter 128 of this title shall cooperate in the formation, implementation, rating, and operation of a plan for the equitable apportionment among insurers of applicants for insurance who are unable to procure that insurance through ordinary methods. (1969, No. 63, § 2.)
8 V.S.A. § 4242
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4242. General provisions of Plan

§ 4242. General provisions of Plan|The Plan shall provide:  (1) reasonable rules for the distribution of risks on an equitable basis under either a pooled or assigned plan; (2) rates applicable to, and based upon, that class of risks as described in section 4241 of this title to which the Plan applies; (3) limits of liability and coverages as described in section 4241 of this title which shall be not less favorable to the insured than is provided in 23 V.S.A. chapter 11, where that chapter is applicable to the insured; (4) a method whereby applicants, insureds, and insurers are entitled to a hearing before the Commissioner of Financial Regulation, for the settlement of grievances. (Added 1969, No. 63, § 3; amended 1989, No. 225 (Adj. Sess.), § 25; 1995, No. 180 (Adj. Sess.), § 38; 2011, No. 78 (Adj. Sess.), § 2, eff. April 2, 2012.)
8 V.S.A. § 4243
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4243. Submission and approval of Plan

§ 4243. Submission and approval of Plan|(a) A plan conforming to the standards of section 4242 of this title shall be submitted to the Commissioner within 90 days of July 1, 1969. Each insurer and advisory or service organization described in section 4241 of this title shall file with the Commissioner within 90 days of July 1, 1969 a consent to operate in conformity with the Plan and an agreement to be bound by the operation of the Plan.(b) The Plan shall be deemed approved unless disapproved by the Commissioner within 30 days of its submission. Notice of disapproval shall be given to each insurer and advisory or service organization, together with the reasons for disapproval.(c) Changes in the Plan shall be submitted to the Commissioner at least 30 days before their effective date. Changes shall be deemed approved unless disapproved as provided in subsection (b) of this section within 30 days of their submission.(d) After approval, the original Plan, or changes in the original Plan, may be disapproved for failure to conform to any of the standards of section 4242 of this title. If he or she disapproves the Plan, the Commissioner shall give 10 days written notice to each insurer and advisory or service organization affected, of a hearing at which evidence in support of the proposed change shall be submitted. If the Commissioner determines after hearing, that the evidence does not justify the proposed plan or change, he or she shall order the Plan or change ineffective after a certain date, which shall be not less than 60, nor more than 120 days after the date of the order. The order shall not affect policies issued prior to the date on which the Plan or change becomes ineffective. (1969, No. 63, § 4.)
8 V.S.A. § 4244
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4244. Commissioner to formulate Plan

§ 4244. Commissioner to formulate Plan|(a) If no Plan conforming to the standards of section 4242 of this title is submitted to the Commissioner within 90 days of July 1, 1969 or within the time provided for in any order of disapproval, the Commissioner shall prepare and promulgate a Plan conforming to the requirements of section 4242 of this title.(b) The Plan shall be prepared and promulgated after notice to each insurer and advisory or service organization, who shall be given an opportunity to be heard. (1969, No. 63, § 5.)
8 V.S.A. § 4245
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4245. Insurers to participate in plan

§ 4245. Insurers to participate in plan|After approval of, or preparation and promulgation of the Plan, every insurer licensed to transact business in this State, shall participate in the Plan according to its provisions as described in section 4241 of this title. (1969, No. 63, § 6.)
8 V.S.A. § 4246
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4246. Insurer or rating organization; conduct of

§ 4246. Insurer or rating organization; conduct of|If the Commissioner finds that the conduct of any insurer or advisory or service organization is not in conformity with the Plan, he or she may, after hearing, order the cessation of the conduct complained of. Further conduct in violation of the order is subject to the provisions of subchapter 12 of chapter 101 of this title. (1969, No. 63, § 7; amended 1979, No. 28, § 1.)
8 V.S.A. § 4247
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4247. Definitions

§ 4247. Definitions|As used in this subchapter:  (1) "Commissioner" means the Commissioner of Financial Regulation. (2) "Consumer" means a natural person who buys other than for purposes of resale any tangible personal property that is distributed in commerce and that is normally used for personal, family, or household purposes, and not for commercial purposes. (3) "Service contract holder" means a person who is the purchaser or holder of a service contract. (4) "Manufacturer" means a person that manufactures, produces, or markets goods and sells the goods under its own name or label; or manufactures or produces goods and the goods are sold under the trade name or label of another person. (5) "Maintenance agreement" means a contract of limited duration that provides for scheduled maintenance only. (6) "Mechanical breakdown insurance" means any policy, contract, or agreement issued by an authorized insurer that provides for the repair, replacement, or maintenance of property or indemnification for repair, replacement, or maintenance, for the operational or structural failure of the property due to a defect in materials or workmanship or due to normal wear and tear. (7) "Provider" means a person who issues, makes, or provides a service contract, and who is contractually obligated to provide service under a service contract and is not the manufacturer. (8) "Service contract" means any contract or agreement to perform or indemnify for a specific duration the repair, replacement, or maintenance of property for operational or structural failure due to a defect in materials, workmanship, or normal wear and tear, with or without additional provisions for incidental payment of indemnity under limited circumstances, including towing, rental, and emergency road service. (9) "Service contract reimbursement policy" means a policy of insurance providing full reimbursement coverage for all obligations and liabilities under the terms of a service contract issued by the provider. (10) "Warranty" means a warranty made solely by the manufacturer, importer, or seller of property or services, without charge, that is not negotiated or separated from the sale of the product and is incidental to the sale of the product, and that guarantees indemnity for defective parts, mechanical or electrical breakdown, labor, or other remedial measures, such as repair or replacement of the property or repetition of services. (Added 1997, No. 109 (Adj. Sess.), § 2, eff. Sept. 1, 1998; amended 2011, No. 78 (Adj. Sess.), § 2, eff. April 2, 2012.)
8 V.S.A. § 4248
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4248. Registration required

§ 4248. Registration required|(a) All providers of service contracts issued, sold, or covering property located in this State shall file a registration with the Commissioner on a form prescribed by the Commissioner. Such registrations shall be renewed every three years. Providers shall submit a $600.00 fee at the time of registration and at the time of each renewal.(b) The following are exempt from the scope of this subchapter, inclusive of this subchapter:  (1) warranties; (2) maintenance agreements; and (3) service contracts sold or offered for sale in commercial transactions.   (c) The types of agreements defined as service contracts in this subchapter or excluded from coverage by subsection (b) of this section are not insurance under Vermont law.(d) A foreign or alien provider shall not transact business in this State until it has either registered with the Secretary of State to do business in Vermont, or if it is not registered to do business in Vermont, filed with the Commissioner the name and address of a person in this State upon whom service of process may be served. Failure to file such information with the Commissioner within 60 days of entering into a Vermont service contract, shall constitute an appointment by such provider of the Secretary of State as its agent for service of process. (Added 1997, No. 109 (Adj. Sess.), § 2, eff. Sept. 1, 1998.)
8 V.S.A. § 4250
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4250. Examinations

§ 4250. Examinations|For the purpose of determining the provider's financial stability and protecting consumer interests, the Commissioner may conduct an examination of a provider concerning service contracts sold in this State to enable the Commissioner to determine compliance or noncompliance with this act. The expenses of examinations shall be paid to the State by the company or companies examined and the Commissioner of Finance and Management shall issue his or her warrants for the proper charges incurred in all examinations. (Added 1997, No. 109 (Adj. Sess.), § 2, eff. Sept. 1, 1998.)
8 V.S.A. § 4251
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4251. Consumer disclosure requirements

§ 4251. Consumer disclosure requirements|(a) Each service contract subject to this subchapter shall be written in clear, understandable language and easily read type and disclose the following:  (1) The identity of the provider and the service contract seller; (2) The total purchase price of the contract, stated separately from the price of the goods purchased; (3) The existence of any deductible amount; (4) The procedures to file a claim, including the procedures for obtaining prior approval for repair work, the toll-free telephone number if prior approval is necessary for claim service and if the service contracts provide services essential to public health, safety, or welfare, the service contract provider shall either provide for 24-hour telephone assistance or state the procedure for obtaining reimbursement for emergency repairs performed outside normal business hours; (5) The terms for transferability of the contract; (6) The prerequisites for early cancellation; (7) The terms, restrictions or conditions governing termination of the service contract by the service contract holder; (8) The obligations and duties of the service contract holder; (9) The authorization of the original service contract holder to return the contract within 20 days of receipt of the contract if no claim has been made under the contract and obtain a refund of the full purchase price of the contract.   (b) All service contract reimbursement insurance policies insuring service contracts issued, sold, or offered for sale in this State shall conspicuously state, that upon the failure of the provider to perform under the contract, the insurer which issued the policy shall pay on behalf of the provider any sums the provider is legally obligated to pay and shall provide the service which the provider is legally obligated to perform according to the provider's contractual obligations under the service contracts issued or sold by the provider. (Added 1997, No. 109 (Adj. Sess.), § 2, eff. Sept. 1, 1998.)
8 V.S.A. § 4252
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4252. Obligations of providers and insurers

§ 4252. Obligations of providers and insurers|(a) A provider is considered to be the agent of an insurer which issued a service contract reimbursement insurance policy and therefore is required to act as a fiduciary in regard to premiums, return of premiums or other sums of money received. However, nothing in this act shall be construed to make such provider subject to the insurance agent licensure requirements set forth in this title.(b) Providers shall keep accurate accounts, books, and records concerning transactions regulated under this subchapter for at least three years after the specified period of coverage has expired. Records required by this act may be maintained solely in an electronic, optical, or other storage medium as long as they are capable of being accurately reproduced upon request. These accounts, books, and records shall include:  (1) copies of each type of service contract in use; (2) the name and address of each service contract holder to the extent that the name and address have been furnished by the service contract holder; (3) a list of the locations where service contracts are sold; and (4) claims files which shall contain at least the dates, amounts, and description of all receipts, claims, and expenditures related to the service contracts. (Added 1997, No. 109 (Adj. Sess.), § 2, eff. Sept. 1, 1998.)
8 V.S.A. § 4253
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4253. Prohibited acts

§ 4253. Prohibited acts|(a) A provider shall not use in its name, contracts or literature:  (1) the words "insurance," "casualty," "surety," "mutual"; or (2) a name deceptively similar to the name or description of any insurance or surety corporation or any other provider licensed to do business in this State.   (b) No provider or its agent shall advertise, print, display, publish, distribute, or broadcast, or cause to permit the foregoing to occur, in any manner whatsoever, any statement or representation with regard to the rates, terms, or conditions of a service contract which is false, misleading, or deceptive.(c) No service contract sold or offered for sale to a consumer in this State shall fail to contain the authorization of the original service contract holder to return the contract within 20 days of receipt of the contract if no claim has been made under the contract and obtain a refund of the full purchase price of the contract. Each provider shall provide or mail a copy of the service contract to the customer within 14 days of the date of sale, unless the provider makes a copy of the service contract terms and conditions available to the consumer at the point of sale, in which event the provider must provide or mail the service contract to the customer within a reasonable period of time.(d) Nothing in this subchapter shall be construed to impair or in any way affect any rule of law applicable or governing service contracts not otherwise subject hereto. (Added 1997, No. 109 (Adj. Sess.), § 2, eff. Sept. 1, 1998.)
8 V.S.A. § 4254
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4254. Prohibited terms

§ 4254. Prohibited terms|No service contract issued, sold, or covering property located in this State shall provide:  (1) that the consumer is not a party to the contract; (2) that the provider has no liability to the consumer; (3) that the consumer does not have the right to bring an action to enforce the terms of the contract or otherwise challenge the denial of a claim which the consumer believes is wrongful, subject to the provisions of any alternative dispute resolution procedure authorized by contract and by law; or (4) that any civil action brought in connection with the service contract must be brought in the courts of a jurisdiction other than Vermont. (Added 1997, No. 109 (Adj. Sess.), § 2, eff. Sept. 1, 1998.)
8 V.S.A. § 4255
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4255. Penalties; enforcement

§ 4255. Penalties; enforcement|(a) The Commissioner, after proper notice and opportunity for hearing in accordance with this State's Administrative Procedure Act, may take action to enforce the provisions of this subchapter and may:  (1) revoke or suspend the registration of the service contract provider; (2) order the provider to cease and desist from further service contract operations; (3) impose a penalty of not more than $1,000.00 for each violation or $10,000.00 for each violation the Commissioner finds to be willful; and (4) order the provider to make restitution to contract holders.   (b) Failure to comply with section 4251 or 4253 of this title shall constitute an unfair or deceptive act in commerce enforceable under 9 V.S.A. § 2461(b). (Added 1997, No. 109 (Adj. Sess.), § 2, eff. Sept. 1, 1998.)
8 V.S.A. § 4256
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 113 - Liability Insurance and Service Contract Companies|§ 4256. Exemption for certain delivery service maintenance and repair contracts

§ 4256. Exemption for certain delivery service maintenance and repair contracts|The provisions of this subchapter shall not apply to service contracts with a duration of one year or less where the provider also has an existing agreement to supply liquid fuel used in the course of normal operation of the property subject to the service contract. (Added 1997, No. 109 (Adj. Sess.), § 2, eff. Sept. 1, 1998.)