Vermont Statutes
Chapter 101 - Insurance Companies Generally
§ 3313. Proxies

§ 3313. Proxies
(a) The Commissioner may prescribe by rules and regulations, the form, content and manner of solicitation of any proxy, consent, or authorization in respect of any voting security issued by a domestic insurer as necessary or appropriate in the public interest, or for protection of investors in the securities, or to insure the fair dealing in the securities.
(b) The term “voting security” as used in this section shall mean any instrument issued by a domestic stock insurance company which, in law or by contract, gives the holder the right to vote, consent, or authorize any corporate action of the insurer.
(c) This section shall not apply to voting securities of a domestic insurer if the securities are registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended.
(d) Any person, domestic insurer, or director, officer, or employee of the insurer, shall not solicit or permit the use of his or her name to solicit, by mail or otherwise, any person to give a proxy, consent, or authorization in respect of a voting security issued by the insurer in contravention of any rule or regulation made under this section.
(e) Failure to comply with any rule or regulation made under this section shall be unlawful and any proxy or consent obtained in violation of this section or in contravention of any rule or regulation made thereunder shall be void. Any domestic insurer or any person who is legally entitled to vote, consent, or authorize by virtue of being the holder of record of such a security, or the Commissioner, if the other parties fail to act within 15 days after the date on which the vote was cast or counted, may enforce compliance with any rule or regulation made under this section, by appropriate civil action, except that no suit shall be brought more than 30 days after the date on which the vote, consent, or authorization was to have been effected. (Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 1, subch. 1, § 13).)

Structure Vermont Statutes

Vermont Statutes

Title 8 - Banking and Insurance

Chapter 101 - Insurance Companies Generally

§ 3301. Purposes

§ 3301a. Insurance defined

§ 3302. Plan of organization; incorporators

§ 3303. Mutual companies; directors, charter provisions as to

§ 3304. Capital and surplus requirements

§ 3305. Petition; hearing

§ 3306. Duties of Secretary of State, records

§ 3307. Consideration for stock

§ 3308. List of stockholders; certificate to transact business; liability of president and directors

§ 3308a. Reorganization formations

§ 3309. Mutual insurers to commence business; when

§ 3310. Amendment of charter

§ 3311. Quorum

§ 3312. Construction with other laws

§ 3313. Proxies

§ 3314. Annual financial statements; reports; filing fee

§ 3315. Coordinated regulation

§ 3316. Corporate governance; disclosure

§ 3361. Requirements for license

§ 3362. Authority to transact various kinds of insurance business

§ 3363. Revocation of license

§ 3364. Authorization for investment purposes only

§ 3365. Plan of organization

§ 3366. Assets of companies

§ 3367. Retaliatory provisions

§ 3368. Transacting business without certificate of authority prohibited

§ 3368a. Unauthorized and misleading transactions

§ 3369. Commissioner may enjoin unauthorized insurer

§ 3370. Service of process upon unauthorized insurer by director

§ 3371. Limits of risk

§ 3381. Legislative purpose and policy

§ 3382. Acts which constitute Secretary of State agent for service of process

§ 3383. Service upon the Secretary of State notice to defendant

§ 3384. Service upon other agents; notice to defendant

§ 3386. Effect on other modes of service

§ 3387. Prerequisites to defense of action

§ 3388. Postponements

§ 3389. Motion to quash for improper service

§ 3390. Attorney’s fees

§ 3421. Mutualization of stock insurer

§ 3422. Mutual insurers—Prohibitions

§ 3423. Converting mutual insurer or mutual insurance holding company

§ 3424. Procedure for merger

§ 3425. Procedure for consolidation

§ 3426. Effective date of merger or consolidation

§ 3427. Voting

§ 3428. Rights of dissenting shareholders

§ 3429. Rights of dissenting members or policyholders

§ 3430. Effect of merger or consolidation

§ 3431. Merger or consolidation between domestic and foreign insurers—Requirements

§ 3432. Transfer of deposits

§ 3433. Certificates of fees and commissions paid

§ 3434. Fees—Penalty for receiving

§ 3437. Redomestication; approval as a domestic insurer

§ 3438. Redomestication; conversion to foreign insurer

§ 3439. Effects of redomestication

§ 3440. Redomestication; fees

§ 3441. Formation of a mutual insurance holding company

§ 3442. Merger of mutual insurance company into an existing mutual insurance holding company; merger and acquisition by mutual insurance holding company or subsidiary of mutual insurance holding company

§ 3443. Regulated as an insurance company

§ 3444. Demutualization of a mutual insurance holding company

§ 3445. Membership interest not a security

§ 3446. Filing of amended charters

§ 3461. Definitions

§ 3461a. General limitations and diversification requirements for property and casualty, financial guaranty and mortgage guaranty insurers

§ 3461b. General limitations and diversification requirements for life and health insurers

§ 3461c. Rated credit investments

§ 3461d. Registration or filing exemption

§ 3462. Investments—Foreign insurers

§ 3463. Domestic insurers

§ 3463a. Valuation of investments

§ 3465. Exemption from investment limitations

§ 3467. Qualification of investments

§ 3468. Investments qualified under prior law

§ 3469. Loans to directors and officers—Restrictions

§ 3470. Mortgage loans to minors

§ 3471. Mortgages on real and personal property as liens; priorities

§ 3472. Earnings statements and income ratios—Special situations

§ 3501. Life insurance and annuities

§ 3502. Insurance—Other life insurance and annuities

§ 3503. Deposits of domestic insurer doing foreign business

§ 3504. Pension system

§ 3541. Filing and approval of forms

§ 3542. Grounds for disapproval

§ 3543. Existing forms and filings

§ 3552. Fees assessed by the National Association of Insurance Commissioners

§ 3561. Annual statement

§ 3562. Time reports due

§ 3563. Examination of companies; fees

§ 3564. Examination of foreign insurers; expenses

§ 3565. Examination of officers and books

§ 3566. Penalty for refusal

§ 3567. Liquor liability insurance records

§ 3568. Preservation of records

§ 3569. National Association of Insurance Commissioners filing requirements

§ 3570. Immunity

§ 3571. Confidentiality

§ 3572. Revocation of certificate of authority

§ 3573. Conduct of examinations

§ 3574. Examination reports

§ 3575. Conflict of interest

§ 3576. Immunity from liability

§ 3577. Requirements for actuarial opinions

§ 3578a. Annual financial reporting

§ 3579. Qualified accountants

§ 3581. Purpose; scope; intent

§ 3582. Definitions

§ 3583. Risk management framework

§ 3584. ORSA requirement

§ 3585. Summary report

§ 3586. Exemption

§ 3587. Contents of ORSA summary report

§ 3588. Confidentiality

§ 3589. Sanctions

§ 3604. Offset

§ 3611. Scope of subchapter; short title

§ 3612. Definitions

§ 3613. Creation of Association

§ 3614. Board of Directors

§ 3615. Powers and duties of Association

§ 3616. Plan of operation

§ 3617. Powers and duties of Commissioner

§ 3618. Effect of paid claims

§ 3619. Nonduplication of recovery

§ 3620. Prevention of insolvencies

§ 3621. Examination of Association

§ 3622. Tax exemption

§ 3623. Recognition of assessments in rates

§ 3624. Immunity

§ 3625. Stay of proceedings; reopening of default judgment

§ 3626. Prohibition against advertising of membership in Association

§ 3634a. Credit for reinsurance

§ 3635. Insolvency of ceding company

§ 3636. Reinsurance contract

§ 3641. Claims, rights, title, and interests of nonresidents

§ 3642. Liability for payments to nonresidents

§ 3661. Cease and desist powers; prosecutions and penalties

§ 3662. Nonpayment of judgment; penalty

§ 3663. Minimum limitation on actions; void policy provisions

§ 3664. Forms; filing proof of loss and other documents, waiver of filing

§ 3665a. Timely payment of property and casualty insurance claims; interest

§ 3665b. Timely payment of life insurance claims and annuity death benefits; interest

§ 3665c. Damages

§ 3666. Rules; methods of notice

§ 3671. Disclosure of information

§ 3672. Immunity

§ 3673. Penalty for noncompliance

§ 3681. Definitions

§ 3682. Subsidiaries of insurers

§ 3683. Acquisition of control of or merger with domestic insurer

§ 3683a. Acquisitions involving insurers not otherwise covered

§ 3684. Registration of insurers

§ 3685. Standards and management of an insurer within an insurance holding company system

§ 3686. Examination

§ 3687. Confidential treatment

§ 3688. Rules and regulations

§ 3689. Injunctions; prohibitions against voting securities; sequestration of voting securities

§ 3690. Sanctions

§ 3691. Receivership

§ 3692. Revocation, suspension, or nonrenewal of insurer’s license

§ 3693. Judicial review

§ 3694. Recovery

§ 3695. Supervisory colleges

§ 3696. Groupwide supervisor; internationally active insurance group