§ 4002. Use of fund
In a year in which the fire losses and expenses of a company accumulating a surplus under the provisions of section 4001 of this title shall exceed the amount of a three percent assessment on the face of the premium notes assessable for such losses and expenses, such excess, to an amount not exceeding three percent by such premium notes, in the discretion of the directors of such company, may be taken from such surplus and applied towards the payment of such excess of losses and expenses.
Structure Vermont Statutes
Title 8 - Banking and Insurance
Chapter 105 - Fire and Casualty Insurance
§ 3861. Discrimination and rebates prohibited
§ 3864. Penalty for violation of sections 3463 and 3862
§ 3866. Returns, rate of tax, exemption
§ 3868. When loss due and payable
§ 3869. Contracts considered made in Vermont
§ 3879. Cancellation of fire and casualty insurance
§ 3880. Notice of cancellation
§ 3884. Required renewals; continuation of agents’ contracts and brokers’ accounts
§ 3912. Contents of declaration
§ 3914. Statement as to applications
§ 3915. Issuance of certificate of authority
§ 3916. Name, status and powers
§ 3925. Bylaws; compulsory provisions
§ 3927. Assessment cooperative insurance corporations
§ 3930. Nonassessment cooperative insurance corporations to commence business
§ 3931. Application of provisions
§ 3962. Application to Commissioner
§ 3963. Time and place for making valuation
§ 3964. Appointment of appraisers to determine valuation
§ 3965. Appraisers’ award and expenses
§ 3966. Duration of valuation fixed
§ 3968. Penalty for violations