reglab/statecodes huggingface dataset:
Code of Vermont Rules › Agency 20 - DEPARTMENT OF AGRICULTURE, FOOD AND MARKETS › Sub-Agency 031 - PLANT INDUSTRY DIVISION › Chapter 018 - UNIT PRICING REGULATIONS › Section 20 031 018 - UNIT PRICING REGULATIONS

Current through June, 2024
Section 1
			 DEFINITIONS
(a) "Point of Sale"
			 means the point at which consumer commodities are offered and
			 displayed for retail sale in such a manner that the consumer
			 mayexamine and select commodities for purchase without the assistance
			 of sales personnel.
(b)
			 "Food" means
(1) articles used for
			 food or drink for man or animals,
(2) chewing gum, and
(3) articles used for components of
			 any such article.
(c) "Drugs" means
(1) articles recognized in the
			 official United States pharmacopoeia, official homeopathic
			 pharmacopoeia of the United States or official national formulatory,
			 or any supplement to any of them;
(2) articles intended for use in
			 the diagnosis, cure, mitigation, treatment or prevention of disease
			 in man or animals;
(3)
			 articles, other than food, intended to affect the structure or any
			 function of the body of man or any animal; and
(4) articles intended for use as a
			 component of any articles specified in this subessection (c) but
			 shall not include devices or their components, parts or
			 accesories.
(d) "Device" means instruments,
			 apparatus and contrivances, including their components, parts and
			 accessories, intended (1) for use in the diagnosis, cure, mitigation,
			 treatment or prevention of disease in man or animals, or (2) to
			 affect the structure or any function of the body of man or
			 animals.
(e) "Cosmetic"
			 means
(1) articles intended to be
			 rubbed, poured, sprinkled or sprayed on, introduced into, or
			 otherwise applied to the human body or any part thereof for
			 cleansing, beautifying, promoting attractiveness or altering the
			 appearance, and
(2)
			 articles intended for use as a component of any such articles; except
			 that such term shall not include soap.
Code of Vermont Rules › Agency 20 - DEPARTMENT OF AGRICULTURE, FOOD AND MARKETS › Sub-Agency 031 - PLANT INDUSTRY DIVISION › Chapter 020 - E.P.A. SUPERFUND AMENDMENTS AND REAUTHORIZATION ACT OF 1986, TITLE III, EMERGENCY PLANNING AND COMMUNTIY RIGHT-TO-KNOW PROGRAM › Section 20 031 020 - E.P.A. SUPERFUND AMENDMENTS AND REAUTHORIZATION ACT OF 1986, TITLE III, EMERGENCY PLANNING AND COMMUNTIY RIGHT-TO-KNOW PROGRAM

Current through June, 2024
*SEE 28 000 002 FOR TEXT OF THIS RULE
Code of Vermont Rules › Agency 20 - DEPARTMENT OF AGRICULTURE, FOOD AND MARKETS › Sub-Agency 031 - PLANT INDUSTRY DIVISION › Chapter 023 - VERMONT HEMP RULES › Section 20 031 023 - VERMONT HEMP RULES

Current through June, 2024
Section 1
			 Authority and Purpose
1.1 The
			 Secretary of the Agency of Agriculture, Food and Markets (Agency)
			 adopts the Vermont Hemp Rules pursuant to 6 V.S.A. Chapter 34.
			 Chapter 34 authorizes the Secretary to adopt rules to implement the
			 chapter and the State Hemp Program (Vermont Hemp Program). The
			 Secretary is required to adopt rules establishing how the Agency will
			 conduct research and establishing requirements for the registration
			 of processors of hemp and hemp-infused products.
1.2 The Secretary establishes the
			 Vermont Hemp Program (Hemp Program) to conduct research and regulate
			 the growing, processing, testing, and marketing of industrial hemp
			 and hemp products in the State .
1.3 The Agency expects to continue
			 operating Vermont's pilot program pursuant to the 2014 federal Farm
			 Bill for the 2020 growing season. After the General Assembly updated
			 Chapter 34 following enactment of the Agriculture Improvement Act of
			 2018, Pub. L.
			 No. 115-334, the United States
			 Department of Agriculture (USDA) issued an Interim Final Rule (IFR)
			 in late 2019 that makes important distinctions from the pilot
			 program. USDA informed the Agency that it could continue to operate
			 its pilot program during the 2020 growing season, and the Agency
			 plans to do so. As federal law develops and evolves, the Agency
			 continues to evaluate it, continues to propose pragmatic changes, and
			 will continue to evaluate how hemp may be grown, produced, and
			 regulated in the State of Vermont. Compliance with these Rules does
			 not guarantee compliance with other legal requirements, and each
			 registrant is personally responsible for complying with all
			 applicable state and federal laws.
1.4 The Agency proposed legislation
			 in 2020 to amend the current state statutory requirement that
			 Vermont's hemp crop comply with the provisions of section 10113 of
			 the Agriculture Improvement Act of 2018,
			 Pub. L. No.
			 115-334. If that pending proposal is
			 passed, the Agency will continue its pilot program under the 2014
			 federal Farm Bill and the definition of "acceptable potency level" in
			 section 3.1 will apply for the term the General Assembly authorizes.
			 If the General Assembly does not authorize continuation of the pilot
			 project, the Agency will not apply the "acceptable potency level" in
			 section 3.1. Instead, the Agency will apply the potency level
			 required by state statute. Absent legislative change, the following
			 definition will replace the section 3.1 definition: "
acceptable potency level
means a hemp crop
			 with the federally defined tetrahydrocannabinol concentration level
			 of hemp." At all times subsequent to the 2020 legislative session,
			 the Agency will explicitly identify the acceptable potency level that
			 applies at that time.
Code of Vermont Rules › Agency 20 - DEPARTMENT OF AGRICULTURE, FOOD AND MARKETS › Sub-Agency 090 - MILK CONTROL BOARD › Chapter 001 - FORMULA FOR PRODUCER MILK PREMIUM › Section 20 090 001 - FORMULA FOR PRODUCER MILK PREMIUM

Current through June, 2024
The current Vermont Milk Control Board formula for
				producer milk premium, currently set at $ .40 cwt. over the Milk
				Control Board blend price for 3.5% butterfat content milk shall be
				suspended, and accordingly, the price paid to producers and
				associations of producers for their milk by distributors shall be
				deregulated at the present time.
Code of Vermont Rules › Agency 20 - DEPARTMENT OF AGRICULTURE, FOOD AND MARKETS › Sub-Agency 090 - MILK CONTROL BOARD › Chapter 002 - STATE MILK CONTROL BOARD › Section 20 090 002 - STATE MILK CONTROL BOARD

Current through June, 2024
1.
			 WHOLESALE PRICES shall apply to all stores, hotels, restaurants,
			 hospitals, schools and other incidental wholesale trade, and shall
			 also apply to the prices charged to all persons, associations,
			 business units or entities who sell to stores, hotels, restaurants,
			 hospitals, schools and other incidental wholesale trade, if such
			 persons, associations, business units or entities are not principally
			 engaged in the business of owning, possessing, handling, and
			 delivering fluid dairy products and do not actually own, possess,
			 handle, and deliver fluid dairy products, or process the same.
2. RETAIL PRICES shall
			 apply to regular retail trade to consumer, cash and carry and charged
			 and delivered.
3. BULK
			 MILK sales under the wholesale schedule shall apply to quantities of
			 not less than 8 quarts daily. Such sales shall be confined to hotels,
			 restaurants and similar places for cooking purposes only.
4. Boarding houses, tourist lodges
			 serving meals, and wayside lunch stands are entitled to wholesale
			 rates provided the following minimum amounts are purchased; MILK - 8
			 quarts daily, bulk or bottle.
5. Wholesale purchasers of milk are
			 entitled to wholesale rates on cream in any quantity.
6. Religious and fraternal
			 organizations are entitled to regular wholesale rates without
			 limitations.
7. No
			 discount, rebates, free merchandise or price consessions of any
			 nature will be allowed except:
1.
			 To bonafide employees of milk distributors.
2. Those price discounts which are
			 stated on the pricing schedule.
3. Discounts by means of trading
			 stamps shall not result in any sale below the established milk board
			 pricing schedule.
Code of Vermont Rules › Agency 20 - DEPARTMENT OF AGRICULTURE, FOOD AND MARKETS › Sub-Agency 090 - MILK CONTROL BOARD › Chapter 003 - DEVELOPMENT AND ISSUANCE OF AN ORDER TO ESTABLISH A RETAIL FLUID MILK PREMIUM, OR AMENDMENT OF SUCH ORDER › Section 20 090 003 - DEVELOPMENT AND ISSUANCE OF AN ORDER TO ESTABLISH A RETAIL FLUID MILK PREMIUM, OR AMENDMENT OF SUCH ORDER

Current through June, 2024
Part
			 I APPLICABILITY
The procedural rules are adopted pursuant to
				6
				V.S.A. §
											2929. They apply to
				the issuance by the Vermont Milk Commission of an order establishing
				a retail fluid milk premium, or amendment of such order, pursuant to
				6
				V.S.A. §
											2924(e) and
				6
				V.S.A. Chapter 161, passim. The rules also apply to a subjects and
				issues administrative process initiated by the Commission relating to
				the issuance of an order establishing a retail fluid milk premium or
				a proposed amendment to such an order.
Part II PROCEDURE FOR DEVELOPMENT,
			 CONSIDERATION AND ISSUANCE OF AN ORDER BY THE COMMISSION
Section 1 Commencement of
			 Proceedings
(a) Upon the
			 Commission's initiative. The Commission may commence a proceeding to
			 establish a retail fluid milk premium on its own initiative, upon the
			 recommendation of the Chair or at the request of another Commission
			 member.
(b) Upon petition
			 of any person or organization. In its sole discretion, the Commission
			 may commence a proceeding upon petition of any person or
			 organization. These may include individual milk producers or
			 handlers, any organization of milk producers or handlers, general
			 farm organizations, consumer or public interest groups, as well as
			 local, state or federal officials.
(1) A person or organization
			 petitioning for commencement of a proceeding shall submit to the
			 Commission a statement in support of the petition. This statement
			 shall include a brief written explanation of how the proposal will
			 promote the purposes of the Commission's statutory responsibilities
			 under 6 V.S.A. Chapter 161 and the function of a retail fluid milk
			 premium as authorized by
			 6
			 V.S.A. §
													2924(e). The
			 Commission may conduct additional inquiry into the basis of the
			 petition and explanatory statement, in its discretion, before ruling
			 on the petition.
(2) If
			 the Commission determines not to grant the petition, the Chair shall
			 promptly notify the petitioner of the Commission's decision. Notice
			 of denial shall include a brief statement of the grounds for the
			 denial. Upon the request of the petitioner, the Commission may in its
			 discretion allow for a responsive submission by the petitioner and
			 further review by the Commission.
(d) Commencement of proceedings.
			 The Chair shall commence a proceeding by serving notice in accordance
			 with Section
			 2.
Code of Vermont Rules › Agency 20 - DEPARTMENT OF AGRICULTURE, FOOD AND MARKETS › Sub-Agency 100 - APPLE MARKETING BOARD › Chapter 001 - APPLE MARKETING ORDER › Section 20 100 001 - APPLE MARKETING ORDER

Current through June, 2024
Section I
			 DEFINITIONS
The terms defined in this section shall have the
				following meanings:
(a) Act
			 means 6 V.S.A. Chapter 24.
(b) Board means the Vermont Apple
			 Marketing Board established by
			 6 V.S.A. Section
			 252.
(c) Bushel means 40
			 pounds.
(d) Producer
			 means any individual, partnership, corporation or other business
			 entity engaged within this state in the business of producing apples
			 or causing apples to be produced for any market. The term shall only
			 apply to persons who annually produce and wholesale more than 500
			 bushels of apples.
(e)
			 Wholesale means the act of selling to retail vendors, commission
			 merchants, brokers, producers, wholesalers, handlers, processors,
			 distributors, insititutional users or commercial users mainly for
			 resale or business use. A commodity is sold wholesale if it is sold
			 by a producer to anyone other than the consumer who pays the final
			 price for the commodity.
(f) Person means any individual,
			 firm, corporation, partnership, company or unincorporated
			 association.
(g)
			 Commissioner means the commissioner of agriculture or his or her
			 designee..
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 000 - GENERAL › Chapter 004 - SUITABILITY IN ANNUITY TRANSACTIONS (REG. I-2023-01) › Section 21 000 004 - SUITABILITY IN ANNUITY TRANSACTIONS (REG. I-2023-01)

Current through June, 2024
Section 1 Purpose.
A. The purpose of this rule is to require
				producers, as defined in this rule, to act in the best interest of the consumer
				when making a recommendation of an annuity and to require insurers to establish
				and maintain a system to supervise recommendations so that the insurance needs
				and financial objectives of consumers at the time of the transaction are
				effectively addressed.
B. Nothing
				herein shall be construed to create or imply a private cause of action for a
				violation of this rule or to subject a producer to civil liability under the
				best interest standard of care outlined in Section
				6 of this rule or under standards governing
				the conduct of a fiduciary or a fiduciary relationship.
C. This rule sets forth the standards for the
				sale of annuities in Vermont and should be read with the requirements of 8
				V.S.A. §
										4724(16) and other
				applicable Vermont laws including the Insurance Trade Practices Act, 8 V.S.A.
				§§
										4721 et seq. Nothing precludes an insurer
				from exceeding the requirements of this rule.
D. A recommendation to purchase or sell
				products defined as securities under the Vermont Uniform Securities Act is the
				offering of investment advice. A person who offers investment advice must be
				registered with the Vermont Securities Division. See Insurance Bulletin 198,
				Securities Bulletin S-2018-01.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 010 - BANKING DIVISION › Chapter 005 - RECORD RETENTION - FINANCIAL INSTITUTIONS, CREDIT UNIONS, INDEPENDENT TRUST COMPANIES AND LICENSEES › Section 21 010 005 - RECORD RETENTION - FINANCIAL INSTITUTIONS, CREDIT UNIONS, INDEPENDENT TRUST COMPANIES AND LICENSEES

Current through June,
				2024
Section One
				Applicability and Scope
1.1 This regulation
				("Regulation") is issued pursuant to
				8 V.S.A.
				§§
											15,
				2214,
				2766,
				2914,
				11301,
				and
				30401.
1.2 This Regulation applies to:
a. financial institutions as defined in
				8 V.S.A. §
												11101(32);
b. credit unions as defined by
				8 V.S.A. §
												30101(5);
c. independent trust companies regulated
				under 8 V.S.A. Chapter 77; and
d.
				all other state licensed financial businesses regulated under Parts 2, 5, and 6
				of Title 8 V.S.A., including: Licensed Lenders; Mortgage Brokers; Loan
				Servicers; Sales Finance Companies; Money Servicers; Check Cashing &
				Currency Exchangers; and Debt Adjusters (the "Institutions").
The types of Institutions included in these definitions shall
				  include federally or nationally chartered Institutions, insofar as this
				  Regulation does not contravene paramount federal law.
1.3 The general intent of this
				Regulation is to require that an Institution be able to rebuild a transaction
				for seven years from the date of the transaction or seven years from the payoff
				date of a loan, as applicable. Notwithstanding the foregoing, this Regulation
				requires that certain records be held longer than seven years and gives
				Institutions the option to hold some records for less than seven years, as set
				forth in Appendix I.
1.4 This
				Regulation applies to records created on or after July 1, 2014.
1.5 This Regulation does not apply to those
				records created prior to July 1, 2014. The retention period applicable to such
				records shall be the period required at the time such record was created.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 010 - BANKING DIVISION › Chapter 008 - MORTGAGE BROKERS › Section 21 010 008 - MORTGAGE BROKERS

Current through June, 2024
INTRODUCTION: Regulation B-2014-02 supersedes and replaces
				  Mortgage Broker Regulation B-96-1.
Section
				1 Authority and Purpose
This regulation is promulgated pursuant to Title
				  8 VSA Section
				  15 and Section 2214 Its purpose is to set
				  forth rules for the licensing and regulation of Mortgage
				  Brokers
Section 2
				Individuals Authorized to Act as Mortgage Loan Originators under the Mortgage
				Broker's License
(a) A Mortgage Broker license
				may be issued to a partnership, corporation, or other legal entity, as well as
				to an individual
(b) The licensee
				must identify in the Nationwide Mortgage Licensing System and Registry
				("NMLS"), and sponsor, all employees who are authorized to act as a mortgage
				loan originator on behalf of the licensee. Such individuals must have a
				mortgage loan originator license in an "approved" status and must have his/her
				sponsorship accepted by the Commissioner prior to acting as a mortgage loan
				originator under the Mortgage Broker's license. The Commissioner shall be
				notified immediately of any changes to the individuals authorized to act as
				mortgage loan originators on behalf of the Mortgage Broker.
(c) No individual may act as a mortgage loan
				originator under the Mortgage Broker's license without the prior approval of
				the Commissioner.
(d) All
				individuals authorized to act as a mortgage loan originator under the Mortgage
				Broker's license must be assigned to a licensed location of the Mortgage
				Broker. All mortgage loan originators must live within a reasonable commuting
				distance from the licensed location to which they are assigned. All
				advertisements and solicitations must use a licensed location. (For example, an
				authorized mortgage loan originator may not use a home address for
				advertisements, solicitations, business cards, or correspondence unless such
				home address is one of the Mortgage Broker's licensed locations.)
(e) All authorized individuals must be an
				employee of the Mortgage Broker (i.e., a W-2 employee) and not an independent
				contractor (i.e., a 1099 independent contractor).
(f) An independent contractor must obtain
				his/her/its own Mortgage Broker license.
(g) No individual may be authorized to act as
				a mortgage loan originator under more than one Mortgage Broker license at any
				one time.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 010 - BANKING DIVISION › Chapter 009 - REGULATION B-96-2, HOUSEHOLD MEMBERS AS ELIGIBLE FOR CREDIT UNION MEMBERSHIP › Section 21 010 009 - REGULATION B-96-2, HOUSEHOLD MEMBERS AS ELIGIBLE FOR CREDIT UNION MEMBERSHIP

Current through
				June, 2024
Section 1
				Authority and Purpose
This Regulation is promulgated pursuant to Title 8 Sections
				  75 and 2055, for the purpose of defining the term "household member" for use in
				  establishing credit union membership.
Section 2 Definition
"Household member" for purposes of Section 2055 of Title
				  8:
(a) Shall mean an individual who is
				the sole partner of an individual credit union member, with whom the credit
				union member has
(1) been in an enduring
				relationship which includes the sharing of residence for at least the preceding
				6 consecutive months, and
(2)
				agreed that the credit union member and the individual shall each be
				responsible for the welfare of one another. Such individual and the credit
				union member must beth be at least 18 years of age, and competent to enter into
				a legally binding contract. Such individual and the credit union member may not
				be married to anyone else, and may not be related by blood closer than would
				bar marriage under Vermont law;
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 010 - BANKING DIVISION › Chapter 011 - REGULATION B-98-2 - HIGH RATE, HIGH POINT NOTICES FOR RESIDENTIAL REAL ESTATE LOANS › Section 21 010 011 - REGULATION B-98-2 - HIGH RATE, HIGH POINT NOTICES FOR RESIDENTIAL REAL ESTATE LOANS

Current
				through June, 2024
Section
				1 Authority and Purpose
This regulation is promulgated pursuant to Title
				  9 V.S.A. §
											104, for the purposes of specifying the form,
				  content and timing of the disclosures required by Title
				  9 V.S.A. §
											104 (the "Disclosure"), to increase the flow
				  of information to consumers and encourage them to take advantage of a
				  competitive market. The Disclosure shall be required for every loan secured by
				  a first lien on residential real estate in which the borrower is expected to be
				  charged in excess of four points or an interest rate in excess of three percent
				  over the rate established pursuant to Title
				  32 V.S.A. §
											3108, or both on the loan. The rate
				  established pursuant to Title
				  32 V.S.A. §
											3108 shall hereinafter be referred to as the
				  "Declared Rate."
Section 2
				Form
The Disclosure shall be printed on a single sheet of colored
				  paper that is easily distinguished from all other disclosures, applications or
				  other loan documents presented to the borrower.
Except as otherwise required herein, the print shall be in a
				  size equal to at least 12 point type.
Section 3 Content of Written Disclosure
The Disclosure shall:
A. Contain the following notice in uppercase
				letters and in a size equal to at least 14 point bold type and otherwise
				distinguishable from all other text of the Disclosure:
YOU MAY BE ELIGIBLE FOR A LOAN WITH EITHER A LOWER INTEREST
				  RATE, FEWER POINTS, OR BOTH, FROM ANOTHER LENDER
B. Inform the borrower(s) that they are
				applying for a loan with an interest rate that exceeds the Declared Rate by
				more than 3 percent and/or for which the lender shall charge more than 4
				points.
C. Include a statement
				informing the borrower(s) that they can obtain a list of other lenders by
				calling or writing to the Department of Banking, Insurance, Securities and
				Health Care Administration (the "Department"), including the Department's
				telephone number and mailing address.
D. Be signed and dated by the lender and all
				borrowers to be obligated under the note.
For purposes of this Regulation, points shall be defined as
				  all amounts required to be listed on a HUD-1A Disclosure form lines 801 and
				  802, as in use on July 1, 1998.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 010 - BANKING DIVISION › Chapter 012 - REGULATION B-99-1; SECURED CREDIT CARDS › Section 21 010 012 - REGULATION B-99-1; SECURED CREDIT CARDS

Current through June, 2024
Section 1 Authority and Purpose
This regulation is promulgated pursuant to Title
				  9 V.S.A. §
											43, for the purposes of promoting the
				  informed use of consumer credit by requiring the inclusion of specific minimum
				  contract terms in the cardholder agreement, in the furtherance of consumer
				  protection. The ability of creditors to offer secured credits cards will make
				  credit available to riskier borrowers who may not be eligible for unsecured
				  credit cards or other unsecured credit. The following minimum contract terms
				  shall apply to every credit cardholder agreement that is secured by a deposit
				  account of a cardholder.
Section
				2 Contract Requirements
The terms of the cardholder agreement shall be written in
				  clear, understandable language and easily read type and in a form the consumer
				  may keep. All deposits required under the cardholder agreement shall be held in
				  a federally insured account.
Section
				3 Definitions
Cardholder means a natural person to whom a credit card is
				  issued for consumer credit purposes, or a natural person who has agreed with
				  the card issuer to pay consumer credit obligations arising from the issuance of
				  a credit card to another natural person.
Card Issuer means a person that issues a credit card or that
				  person's agent with respect to that card, and is the creditor that has agreed
				  to extend credit to the cardholder in accordance with a credit card cardholder
				  agreement.
Credit Card means any card, plate, or other single credit
				  device that may be used from time to time to obtain credit.
Security Interest means an interest in the deposit account
				  that secures performance of a consumer credit card obligation.
Section 4 Content of Agreement
The cardholder agreement shall:
A. Contain the following clause in a size no
				less prominent than any other printed portion of the cardholder agreement
				provided to the cardholder:
"You must maintain a deposit account as security for this
				  credit card account, and shall grant us a security interest in this deposit
				  account."
B. Inform the
				cardholder the minimum amount required to be maintained in the deposit
				account.
C. Set forth the manner
				and upon what circumstance the cardholder may terminate the card issuer's
				security interest in the deposit account and/or withdraw the funds from the
				deposit account.
D. Set forth under
				what circumstance and in what manner the card issuer may exercise an offset
				against the security interest.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 010 - BANKING DIVISION › Chapter 013 - REGULATION B-99-2; CONVERSION OF A FEDERAL CREDIT UNION INTO A STATE CHARTERED CREDIT UNION › Section 21 010 013 - REGULATION B-99-2; CONVERSION OF A FEDERAL CREDIT UNION INTO A STATE CHARTERED CREDIT UNION

Current through June, 2024
Section 1 Authority, Scope and Purpose
This Regulation is promulgated pursuant to Title 8 V.S.A.
				  § 2084. This Regulation establishes procedures for the conversion of a
				  federal credit union to a credit union chartered under Title 8, Vermont
				  Statutes Annotated, Chapter 71. Compliance with these regulations is in
				  addition to any other state or federal laws and regulations which may be
				  applicable to the proposed transaction, including state corporate laws and
				  state and federal securities laws.
Section 2 Application for Conversion to a
				State Credit Union
(a) Contents of
				Application. The board of directors of the credit union shall approve a plan
				for conversion (the "Plan") and shall file an application for conversion (the
				"Application") with the department. The Application shall include:
(1) The Plan
(2) Current financial reports;
(3) Current delinquent loan schedules
				annotated to reflect collection problems;
(4) Combined financial report, if
				applicable;
(5) Any
				contingencies;
(6) Explanation of
				any provisions for reserves, undivided earnings or dividends;
(7) Explanation of any adjustments to
				members' share accounts;
(8)
				Analyses of the regulatory effect of the conversion brought about by the change
				in government regulator;
(9)
				Explanation of procedure for discontinuing nonconforming activities;
(10) Explanation of any other relevant
				effects on the members; and
(11)
				Any additional information, as required by the commissioner.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 010 - BANKING DIVISION › Chapter 014 - NON-DISCRIMINATION IN FINANCIAL SERVICES › Section 21 010 014 - NON-DISCRIMINATION IN FINANCIAL SERVICES

Current through June,
				2024
Section One Authority, Scope, and Purpose
1.1 This Regulation is issued by the
				Department of Financial Regulation pursuant to authority granted by
				8 V.S.A. §
										15;
				8
				V.S.A. §
										10403; and
				3 V.S.A. §
										831(a).
1.2 This Regulation applies to all financial
				institutions as defined in
				8
				V.S.A. §
										10403, offering personal and/or
				commercial credit services in Vermont.
1.3 The purpose of this Regulation is to
				implement
				8
				V.S.A. §
										10403, entitled "Prohibition on
				discrimination based on sex, marital status, race, color, religion, national
				origin, age, sexual orientation, gender identity, or disability" and to
				identify requirements of the Vermont law which supplement both Federal
				Regulation B of the Board of Governors of the Federal Reserve System, Equal
				Credit Opportunity Act, as revised effective December 30, 2011 and thereafter;
				and Federal Regulation B of the Bureau of Consumer Financial Protection, Equal
				Credit Opportunity Act, effective December 21, 2011 and as revised thereafter.
Section Two Notice of Adverse Action
2.1 Each applicant against whom adverse
				action is taken shall receive a written statement of reasons for such action
				from the financial institution.
(a) A
				financial institution may not provide a written disclosure of the right to a
				statement of reasons in lieu of providing an actual statement, as is permitted
				by 12 R section 202.9(a)(2) or 12 R 1002.9 (a)(2).
(b) A financial institution may not comply
				with sub- section 2.1 herein by providing a statement of reasons only upon
				request by the applicant as is permitted by 12 R section 202.9(a)(3) or 12 R
				1002.9 (a)(3).
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 010 - BANKING DIVISION › Chapter 017 - VERMONT DISCLOSURE FORM - AMOUNT TO BE FINANCED IN A MOTOR VEHICLE RETAIL INSTALLMENT CONTRACT (B-2016-01) › Section 21 010 017 - VERMONT DISCLOSURE FORM - AMOUNT TO BE FINANCED IN A MOTOR VEHICLE RETAIL INSTALLMENT CONTRACT (B-2016-01)

Current through June,
				2024
Section 1 Authority
				and Scope
1.1 This regulation is promulgated
				pursuant to the authority granted by
				8 V.S.A. §
											15 and 9 V.S.A. §
				2355(f)(1)(J).
1.2 This regulation
				shall apply to all motor vehicle retail installment transactions governed by
				Title 9 V.S.A. Chapter 59.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 020 - INSURANCE DIVISION › Chapter 002 - ADVERTISEMENTS OF ACCIDENT AND SICKNESS INSURANCE (REGULATION 71-1) › Section 21 020 002 - ADVERTISEMENTS OF ACCIDENT AND SICKNESS INSURANCE (REGULATION 71-1)

Current through June,
				2024
WHEREAS the insurance laws of this State and particularly
				  8 VSA §
										4084 prohibit the transmission of information
				  in the form of advertisements or otherwise in such a manner or of such
				  substance that the insurance buying public may be deceived or misled thereby;
				  and
WHEREAS said insurance laws establish only general standards
				  by which advertisements in the field of individual, group., blanket and
				  franchise accident and sickness insurance should be prepared, disseminated and
				  regulated; and
WHEREAS it is considered proper and desirable to implement
				  and interpret the general statutory standards and to adopt proper procedures to
				  expedite enforcement thereof by this office; now therefore
IT IS ORDERED that the following standards for advertisements
				  of such accident and sickness insurance as well as the administrative and
				  enforcement procedures hereafter enumerated be and are hereby adopted as a
				  formal and official rule (ruling) of this Department:
Section 1 Definitions
A. An advertisement for the purpose of these
				rules shall include:
(1) printed and
				published material, audio visual material, and descriptive literature of an
				insurer used in direct mail, newspapers, magazines, radio scripts, TV scripts,
				billboards and similar displays;
(2) descriptive literature and sales aids of
				all kinds issued by an insurer, agent or broker for presentation to members of
				the insurance buying public, including but not limited to circulars, leaflets,
				booklets, depictions, illustrations, and form letters; and
(3) prepared sales talks, presentations and
				material for use by agents, brokers and solicitors.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 020 - INSURANCE DIVISION › Chapter 003 - ASSESSMENT REGULATION › Section 21 020 003 - ASSESSMENT REGULATION

Current through June, 2024
Section A Purpose and Authority
The purpose of this Regulation is to establish an equitable
				  and practical assessment procedure as requires by Chapter 128,
				  8 V.S.A., Section
				  4703. The Assessment procedure established by
				  this Regulation will pay for expenses incurred in establishing and maintaining
				  a Consumer Information System as required by Section 4701, 8 V.S.A., and pay
				  for the expenses of implementing and operating a Competition Monitoring System
				  as required by Section 4702, 8 V.S.A.
This Regulation is issued pursuant to the powers granted to
				  the Commissioner by Sections 75 and 4703 of 8 V.S.A..
Section B Definitions
(1) Written Premiums mean all direct premium
				income generated in the State of Vermont or allocated to the State of Vermont
				arising from policies which are regulated pursuant to Chapter 128, 8 V.S.A.,
				issued by an authorized insurance company collecting the premiums, other than
				reinsurers.
(2) Contractor means
				any person, corporation or other entity designated by the Commissioner to act
				on his behalf.
(3) Consumer
				Information System means any activity whereby information concerning insurance
				policies, including insurance premiums, is compiled, collected, analyzed or
				evaluated and disclosed to the public. It includes, but is not limited to, the
				subsystems and written documentation to design and operate the full system;
				including all costs necessary to design, print, produce, or distribute consumer
				brochures, and associated public seminars and displays.
(4) Competition Monitoring System means any
				activity concerning the developing, and designing of a system; the collection
				of information and data; assembling into a usable and understandable form or
				format; and the printing, publication, and distribution of reports and
				information on competition in Vermont's insurance marketplace by whatever
				means.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 020 - INSURANCE DIVISION › Chapter 006 - CREDIT LIFE AND CREDIT ACCIDENT AND HEALTH INSURANCE › Section 21 020 006 - CREDIT LIFE AND CREDIT ACCIDENT AND HEALTH INSURANCE

Current through June,
				2024
Section 1 Purpose
				and Authority
The purpose of this regulation is to protect the interests of
				  debtors and the public in this state by providing a system of rate, policy
				  form, and operating standards for the transaction of credit life and credit
				  accident and health insurance. This rule interprets and implements Title 8,
				  Vermont Statutes Annotated, including but not limited to Sections 3801 through
				  3825 (as applicable) and Sections 4101 through 4115, and is issued pursuant to
				  powers granted the Commissioner by 8 V.S.A., Sections 75,
				  4108(b)
				  and
				  4113.
Section 2 Definitions
As used in this regulation:
(1) Credit accident and health insurance
				means insurance as defined in Section
				4103 of Title 8,
				Vermont Statutes Annotated.
(2)
				Credit Insurance means both credit life insurance and credit accident and
				health insurance.
(3) Non
				contributory credit insurance means both credit life and credit accident and
				health insurance where the debtor does not directly pay for the
				insurance.
(4) Credit life
				insurance means insurance as defined in Sections
				4103 and
				3805 of Title 8,
				Vermont Statutes Annotated.
(5) Net
				written premium means gross written premium minus refunds on termination as
				defined in Section 8 herein.
(6)
				Indebtedness means the total amount payable by a debtor to a creditor in
				connection with a loan or other transaction.
(7) Total amount payable means the total
				outstanding amount owed by the debtor at the time of the death insured against,
				excluding any unearned interest or finance charges.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 020 - INSURANCE DIVISION › Chapter 007 - DISCLOSURE - REGULATION NO. 78-1 › Section 21 020 007 - DISCLOSURE - REGULATION NO. 78-1

Current through June, 2024
Section 1 Disclosure of Diminution of
				Coverage
In the event an insurance company eliminates or modifies
				  coverage, conditions, or definitions in any policy in force or at renewal that
				  results in a diminution of benefits, the company must provide each named
				  insured or policyowner a printed notice summarizing what coverages, conditions
				  or definitions have been eliminated or modified. The notice may be mailed or
				  delivered by the insurer or its authorized representative on or before the time
				  the insured receives the new policy or policy form. This regulation does not
				  apply to changes in an individual insured's policy which have been agreed to in
				  writing or requested by the insured. A group contract policyholder shall be
				  responsible for distributing such notices prepared by the insurer to those
				  insured under the group contract.
Section
				2 Disclosure of Availability of Discounts
a. Purpose. It is the purpose of this section
				to require insurance companies offering personal automobile, personal property
				and liability coverage to provide notice to insureds on a new and renewal basis
				that the offering of various discounts by insurance carriers in the Vermont
				market is commonplace.
b. Every
				insurance carrier offering new or renewal personal automobile, personal
				property and liability coverage shall provide notice to the insured by means of
				a separate free standing page, prominently displayed in the policy package,
				that discounts are commonly available in the Vermont market. The notice shall
				be printed in 18 point typeface and shall contain the following wording:
NOTICE OF AVAILABILITY OF DISCOUNTS
The Vermont Insurance Department requires us to notify you
				  that many insurance carriers offer discounts on some or all of their insurance
				  products to qualifying individuals. Discounts are commonly available for senior
				  citizens, for good drivers, for good students, for persons who have completed
				  approved driver education courses, for combined policies, for smoke alarms, for
				  anti-lock braking systems, for multi-car policies and for individuals who have
				  had no recent history of loss. You should inquire of your agent, broker or your
				  insurance company representative about discounts for which you may be eligible.
				  The offering of a discount may not result in lower costs. You should always
				  compare prices and coverage to make sure you are comparing similar
				  products.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 020 - INSURANCE DIVISION › Chapter 010 - REGULATION I-2001-03 - LIFE INSURANCE AND ANNUITIES REPLACEMENT REGULATION › Section 21 020 010 - REGULATION I-2001-03 - LIFE INSURANCE AND ANNUITIES REPLACEMENT REGULATION

Current through
				June, 2024
Section 1
				Purpose and Scope
A. The purpose of this
				regulation is:
(1) To regulate the activities
				of insurers and producers with respect to the replacement of existing life
				insurance and annuities.
(2) To
				protect the interests of life insurance and annuity purchasers by establishing
				minimum standards of conduct to be observed in replacement or financed purchase
				transactions. It will:
(a) Assure that
				purchasers receive information with which a decision can be made in his or her
				own best interest; and
(b) Reduce
				the opportunity for misrepresentation and incomplete disclosure.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 020 - INSURANCE DIVISION › Chapter 011 - VERMONT LIFE INSURANCE SOLICITATION REGULATION (77-2) › Section 21 020 011 - VERMONT LIFE INSURANCE SOLICITATION REGULATION (77-2)

Current through June,
				2024
Section 1 AUTHORITY
This rule is adopted and promulgated by the Commissioner of
				  Banking and Insurance pursuant to the general authority granted in Sections 75
				  and 4902 of the Insurance Code and also Sections 4723 and 4724 of the Insurance
				  Trade Practices in the Vermont Title 8 Insurance Code.
Section 2 PURPOSE
(A) The purpose of this Regulation is to
				require insurers to deliver to purchasers of life insurance, information which
				will improve the buyer's ability to select the most appropriate plan of life
				insurance for his needs, improve the buyer's understanding of the basic
				features of the policy which has been purchased or which is under consideration
				and improve the ability of the buyer to evaluate the relative costs of similar
				plans of life insurance.
(B) This
				Regulation does not prohibit the use of additional material which is not in
				violation of this Regulation or any other Vermont statute or
				regulation.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 020 - INSURANCE DIVISION › Chapter 012 - MATERNITY COVERAGE › Section 21 020 012 - MATERNITY COVERAGE

Current through June, 2024
Section 1 PURPOSE
This regulation is promulgated to eliminate unfair
				  discrimination in health insurance policies and contracts covering Vermont
				  residents.
Currently, men are able to purchase health insurance policies
				  which provide coverage for virtually all types of medical expenses. Women
				  cannot obtain this type of comprehensive health insurance at comparable prices.
				  Benefits for medical expenses attributable to pregnancy, including related
				  conditions, are typically excluded from health insurance policies and
				  contracts. When such coverage is available, it can only be obtained at rates
				  significantly higher than the rates charged for policies sold to men.
The Vermont Legislature has prohibited unfair discrimination
				  based on sex in the issuance of insurance policies and contracts. Inclusion of
				  coverage for maternity related medical expenses in health insurance policies
				  eliminates such unfair discrimination.
Section 2 AUTHORITY
This regulation is issued pursuant to the authority of the
				  Commissioner of Banking and Insurance to promulgate regulations. 8 V.S.A.
				  Section 75. The regulation is based on the legislative prohibition against
				  unfair discrimination based on sex. See
				  8 V.S.A. Sections
				  4062 and
				  4724(7)
				  (b).
Section 3 APPLICABILITY
(a) This regulation applies to all health
				insurers, non-profit hospital and medical service corporations and health
				maintenance organizations transacting the business of insurance in Vermont. All
				health insurance policies and contracts sold in Vermont are subject to this
				regulation, including but not limited to policies and contracts for payment of
				medical expenses incurred and for indemnification of insureds. This regulation
				does not limit the scope of insurance coverage set forth in Regulation
				80-1.
(b) The regulation does not
				apply to policies or contracts issued on a specified disease or accident basis.
				In addition, this regulation does not apply to disability income
				policies.
(c) The regulation shall
				apply to all health insurance policies and contracts issued or renewed on or
				after October 1, 1989. If the policy has no renewal date, this regulation will
				apply on the first anniversary of the policy effective date following the date
				on which this regulation takes effect.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 020 - INSURANCE DIVISION › Chapter 016 - REGULATION I-2010-03 - PROPERTY AND CASUALTY INSURANCE FILING PROCEDURES AND REPORTING REQUIREMENTS › Section 21 020 016 - REGULATION I-2010-03 - PROPERTY AND CASUALTY INSURANCE FILING PROCEDURES AND REPORTING REQUIREMENTS

Current through June, 2024
Section 1 Purpose and Scope
(A) The purpose of this regulation is to set
				forth procedures for submitting:
(1) property
				and casualty form filings required by
				8 V.S.A. Section
				3541;
(2) property and casualty rates,
				supplementary rate information, and supporting rate information required by
				8 V.S.A. Section
				4688;
(3) consent to rate filings required by
				8 V.S.A. Section
				4688(f); and
(4) workers compensation filings required by
				8
				V.S.A. Section 4687.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 020 - INSURANCE DIVISION › Chapter 021 - UNFAIR DISCRIMINATION ON THE BASIS OF BLINDNESS OR PARTIAL BLINDNESS › Section 21 020 021 - UNFAIR DISCRIMINATION ON THE BASIS OF BLINDNESS OR PARTIAL BLINDNESS

Current through June,
				2024
Action 1.
This regulation is promulgated pursuant to authority granted
				  by 8 V.S.A., Section 75. The purpose of this regulation is to identify specific
				  acts or practices which are prohibited by 8 V.S.A., Chapter 129, Section
				  4724(7) (Insurance Trade Practices).
The following are hereby identified as acts or practices
				  which constitute unfair discrimination between individuals of the same class:
				  Refusing to insure, or refusing to continue to insure, or limiting the amount,
				  extent or kind of coverage available to an individual, or charging an
				  individual a different rate for the same coverage solely because of blindness
				  or partial blindness, except where the refusal, limitation or rate differential
				  is based on sound actuarial principles or is related to actual or reasonably
				  anticipated experience.
Statutory Authority: Title 8 V.S.A., Section
				  75
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 020 - INSURANCE DIVISION › Chapter 022 - VARIABLE LIFE INSURANCE MODEL REGULATION › Section 21 020 022 - VARIABLE LIFE INSURANCE MODEL REGULATION

Current through June,
				2024
Article I AUTHORITY
Section I Authority
The following regulations applicable to variable life
				  insurance policies are promulgated under the authority of
				  8 V.S.A., Section
				  3858, the Insurance Laws of Vermont, and are
				  effective January 1, 1989. Nothing in these regulations shall be construed to
				  be inconsistent with any provision under the Vermont Securities Act, 9 V.S.A.,
				  Chapter 131.
Code of Vermont Rules › Agency 21 - DEPARTMENT OF FINANCIAL REGULATION › Sub-Agency 020 - INSURANCE DIVISION › Chapter 025 - INDEPENDENT ANALYSIS OF PROPOSED MEDICARE SUPPLEMENT RATE INCREASES › Section 21 020 025 - INDEPENDENT ANALYSIS OF PROPOSED MEDICARE SUPPLEMENT RATE INCREASES

Current through June,
				2024
Section 1 Purpose
The purpose of this regulation is to set forth rules for the
				  hiring of independent experts to analyze proposed rate increases in Medicare
				  supplement health insurance policies pursuant to Title
				  33 V.S.A. §
											6706.
Section 2 Authority
This regulation is issued pursuant to the authority vested in
				  the Commissioner of Banking, Insurance and Securities ("Commissioner") by Title
				  33 V.S.A. §
											6706.
Section 3 Review by the Commissioner
(a) Proposed rate increases in Medicare
				supplement rates shall be reviewed by the Commissioner to determine if the best
				interests of the policyholders or certificate-holders will be served by having
				an analysis of the proposed increase performed by an independent expert. In
				determining whether such analysis would serve the policyholders' or
				certificate-holders' best interests the Commissioner:
(1) shall consider the premium volume and the
				amount of the proposed increase;
(2) shall weigh the cost of such analysis to
				each policyholder or certificate-holder against the amount of the proposed rate
				increase; and
(3) may consider
				amendments to Medicare law, inflation, and other factors that impact Medicare
				supplement rates.