§ 3578a - Annual financial reporting - Vermont Statutes

§ 3578a. Annual financial reporting

(a) The commissioner shall adopt by rule the Annual Financial Reporting Model Regulation of the National Association of Insurance Commissioners, as amended from time to time, or in the commissioner's discretion a regulation substantially similar thereto.

(b) A domestic insurer required to be audited pursuant to the annual financial reporting rule adopted by the commissioner under subsection (a) of this section shall register with the commissioner the name and address of the certified public accountant retained in compliance with this section, and pay a registration fee of $100.00. If the commissioner determines that a report filed by a foreign or alien insurer is not substantially similar to the requirements imposed by the annual financial reporting rule adopted by the commissioner under subsection (a) of this section, the foreign or alien insurer shall, within 30 days of such determination, register the name and address of the certified public accountant retained in compliance with this section, and pay a registration fee of $100.00. (Added 2009, No. 42, § 7.)