Terms Used In Vermont Statutes Title 9 Sec. 4302

  • Domestic: when applied to a corporation, company, association, or copartnership shall mean organized under the laws of this State; "foreign" when so applied, shall mean organized under the laws of another state, government, or country. See
  • equity security: when used in this chapter means any stock or similar security; or any security convertible, with or without consideration, into such a security, or carrying any warrant or right to subscribe to or purchase such a security; or any such warrant or right; or any other security that the Commissioner of Financial Regulation shall consider to be of similar nature and consider necessary or appropriate, by such rules and regulations as he or she may prescribe in the public interest or for the protection of investors, to treat as an equity security. See
  • Month: shall mean a calendar month and "year" shall mean a calendar year and be equivalent to the expression "year of our Lord. 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

§ 4302. Officers and stockholders; disclosure

Every person who is directly or indirectly the beneficial owner of more than ten percent of any class of any equity security of a domestic stock insurance company, or who is a director or an officer thereof, shall file in the office of the Commissioner of Financial Regulation on or before the first day of July, 1965, or within 10 days after the person becomes the beneficial owner, director, or officer, a statement in such form as the Commissioner may prescribe, of the amount of all equity securities of the company of which the person is the beneficial owner, and within 10 days after the close of each calendar month thereafter, if there has been a change in his or her ownership during the month, shall file in the office of the Commissioner a statement, in such form as the Commissioner may prescribe, indicating his or her ownership at the close of the calendar month and such changes in his or her ownership as have occurred during the calendar month. (Added 1965, No. 88, § 1; amended 1989, No. 225 (Adj. Sess.), § 25(b); 1995, No. 180 (Adj. Sess.), § 38(a).)