Vermont Statutes Title 8 Sec. 7064
Terms Used In Vermont Statutes Title 8 Sec. 7064
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Insurer: means any person who has done, purports to do, is doing or is licensed to do an insurance business, and is or has been subject to the authority of, or to liquidation, rehabilitation, reorganization, supervision, or conservation by, any insurance commissioner. See
§ 7064. Collection and list of assets
(a) As soon as practicable after the liquidation order but not later than 120 days thereafter, the liquidator shall prepare in duplicate a list of the insurer‘s assets. The list shall be amended or supplemented from time to time as the liquidator may determine. One copy shall be filed in the Superior Court of Washington County and one copy shall be retained for the liquidator’s files. All amendments and supplements shall be similarly filed.
(b) The liquidator shall reduce the assets to a degree of liquidity that is consistent with the effective execution of the liquidation.
(c) A submission to the court for disbursement of assets in accordance with section 7073 of this title fulfills the requirements of subsection (a) of this section. (Added 1991, No. 45, § 2, eff. May 29, 1991.)