§ 4242 - General provisions of plan - Vermont Statutes

§ 4242. General provisions of plan

The plan shall provide:

(1) Reasonable rules for the distribution of risks on an equitable basis under either a pooled or assigned plan;

(2) Rates applicable to, and based upon, that class of risks as described in section 4241 of this title to which the plan applies;

(3) Limits of liability and coverages as described in section 4241 of this title which shall be not less favorable to the insured than is provided in 23 V.S.A. chapter 11, where that chapter is applicable to the insured.

(4) A method whereby applicants, insureds and insurers are entitled to a hearing before the commissioner of banking, insurance, securities, and health care administration, for the settlement of grievances. (1969, No. 63, § 3; amended 1989, No. 225 (Adj. Sess.), § 25(b); 1995, No. 180 (Adj. Sess.), § 38(a).)