Vermont Statutes Title 8 Sec. 4072
Terms Used In Vermont Statutes Title 8 Sec. 4072
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- insured: as used in this chapter , shall not be construed as preventing a person other than the insured with proper insurable interest from making application for and owning a policy covering the insured or from being entitled under such a policy to any indemnities, benefits, and rights provided therein. See
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
- 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
§ 4072. Nonconforming policies
(a) No policy provision which is not subject to section 4065 or 4066 of this title shall make a policy, or any portion thereof, less favorable in any respect to the insured or the beneficiary than the provisions thereof which are subject to these sections.
(b) A policy delivered or issued for delivery to any person in this State in violation of sections 4065 and 4066 of this title shall be held valid but shall be construed as provided in this chapter. When any provision in a policy subject to sections 4065 and 4066 is in conflict with any provision therein, the rights, duties, and obligations of the insurer, the insured and the beneficiary shall be governed by the provisions of such sections.