Vermont Statutes Title 8 Sec. 80
Terms Used In Vermont Statutes Title 8 Sec. 80
- Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 80. Insurance Regulatory and Supervision Fund
(a) There is hereby created a fund to be known as the Insurance Regulatory and Supervision Fund for the purpose of providing the financial means for the Commissioner of Financial Regulation to administer Parts 3 and 6, except chapter 133 of this title, and except as provided under subsection 6017(a) of this title. All fees and assessments received by the Department pursuant to such administration shall be credited to this Fund. All fines and administrative penalties, however, shall be deposited directly into the General Fund.
(b) All payments from the Insurance Regulatory and Supervision Fund for the maintenance of staff and associated expenses, including contractual services as necessary, shall be disbursed from the State Treasury only upon warrants issued by the Commissioner of Finance and Management, after receipt of proper documentation regarding services rendered and expenses incurred.
(c) Annually, $30,000.00 shall be transferred from the Fund to the Fire Service Training Council Special Fund established in 20 V.S.A. § 3157.
(d) At the end of each fiscal year, the balance in the Insurance Regulatory and Supervision Fund shall be transferred to the General Fund.
(e) The Commissioner of Finance and Management may anticipate receipts to the Insurance Regulatory and Supervision Fund and issue warrants based thereon. (Added 1985, No. 242 (Adj. Sess.), § 310; amended 1989, No. 225 (Adj. Sess.), § 25(b); 1995, No. 180 (Adj. Sess.), § 38(a); 1999, No. 49, § 216; 1999, No. 87 (Adj. Sess.), § 4; 2003, No. 80 (Adj. Sess.), § 75, eff. March 8, 2004; 2005, No. 71, § 268; 2011, No. 78 (Adj. Sess.), § 2, eff. April 2, 2012.)