Vermont Statutes Title 8 Sec. 4849
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Vermont Statutes Title 8 Sec. 4849
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
§ 4849. Subscribers’ liability on judgment
(a) No action shall lie against any subscriber upon any obligation claimed against the insurer until a final judgment has been obtained against the insurer and remains unsatisfied for 30 days.
(b) Any such judgment shall be binding upon each subscriber only in such proportion as his or her interests may appear and in amount not exceeding his or her contingent liability, if any. (Added 1971, No. 31, § 1, eff. March 31, 1971.)