Vermont Statutes Title 8 Sec. 4514
Terms Used In Vermont Statutes Title 8 Sec. 4514
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
§ 4514. Required contract provisions
A contract entered into by a hospital service corporation shall be in writing, one copy of which shall be furnished to the subscriber, and shall contain the following provisions:
(1) A statement of the amount payable to the corporation by the subscriber and the times at which and manner in which such amount is to be paid.
(2) A statement of the nature of the services to be furnished and the period during which they will be furnished and, if there are any services to be excepted, a detailed statement of the exceptions printed as specified in section 4515 of this chapter.
(3) A statement of the terms and conditions, if any, upon which the contract may be canceled or otherwise terminated at the option of either party.
(4) A statement that the contract includes the endorsements thereon and attached papers, if any, and contains the entire contract for services.
(5) A statement that no representation by the subscriber in an application for a contract shall avoid the contract or be used in any legal proceeding under the contract, unless the application or an exact copy of the application is included in or attached to the contract, and that no agent or representative of the corporation, other than an officer designated in the contract, is authorized to change the contract or waive any of its provisions.
(6) A statement that if the subscriber defaults in making any payment under the contract, the subsequent acceptance of a payment by the corporation or by any of its duly authorized agents shall reinstate the contract, but, with respect to sickness and injury, only to cover such sickness as may be first manifested more than 10 days after the date of such acceptance.
(7) A statement of the period of grace that will be allowed the subscriber for making any payment due under the contract. The grace period shall be not less than 10 days. (Amended 2021, No. 105 (Adj. Sess.), § 207, eff. July 1, 2022.)