§ 6045.
178 words·~1 min read·
/vt/title-8/chapter-141/6045A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 6045. Branch captive reports
Prior to March 15 of each year, or with the approval of the Commissioner within 75 days after its fiscal year-end, a branch captive insurance company shall file with the Commissioner a copy of all reports and statements required to be filed under the laws of the jurisdiction in which the alien captive insurance company is formed, verified by oath of two of its executive officers or, in the case of a branch captive insurance company formed as a limited liability company or as a reciprocal insurer, of two individuals authorized by the governing board.
If the Commissioner is satisfied that the annual report filed by the alien captive insurance company in its domiciliary jurisdiction provides adequate information concerning the financial condition of the alien captive insurance company, the Commissioner may waive the requirement for completion of the captive annual statement for business written in the alien jurisdiction. (Added 2003, No. 55, § 9; amended 2023, No. 12, § 1, eff. May 8, 2023; 2025, No. 23, § 12, eff. July 1, 2025.)