§ 4581. Incorporation of medical service corporations (a) Three or more persons licensed by the State Board of Medical Practice to practice medicine and surgery may incorporate under the general law of this State governing corporations for the purpose of forming a medical service corporation, but subject to the provisions of section 4584 of this […]
§ 4582. Incorporation of dental and other service corporations Three or more persons duly licensed under the laws of this State to practice dentistry, osteopathy, chiropractic, podiatry, or optometry may incorporate for the purpose of establishing a dental, osteopathic, chiropractic, podiatric, or optometric service corporation, respectively, to furnish dental, osteopathic, chiropractic, podiatric, or optometric services […]
§ 4583. Purposes and definition A medical service corporation is a nonprofit sharing corporation without capital stock, organized under the laws of this State for the purpose of establishing, maintaining, and operating a plan through which medical or medical and dental services may be provided at the expense of the corporation by duly licensed physicians […]
§ 4584. Application for permit (a) A corporation incorporated under this chapter shall immediately, after filing its articles of association, apply to the Commissioner of Financial Regulation for a permit to operate. The application shall be made to the Commissioner upon forms to be prescribed by the Commissioner. The application shall include a statement of […]
§ 4585. Required contract provisions Contracts entered into by a medical service corporation shall be in writing, one copy of which shall be furnished to the subscriber. The contract shall contain the following provisions: (1) A statement of the amount payable to the corporation by the subscriber and the manner in which such amount is […]
§ 4585a. Optometrists; visual services Whenever any policy of insurance or any medical service plan or hospital service contract or hospital and medical service contract provides for reimbursement for any visual service which is within the lawful scope of practice of a duly licensed optometrist with qualifications as defined by 26 V.S.A. § 1691, the […]
§ 4586. Form and contents of contract In every such contract made, issued, or delivered in this State: (1) all printed portions shall be plainly printed in type of which the face is not smaller than ten point; (2) there shall be a brief description of the contract on its first page and on its […]
§ 4587. Filing and approval of contracts A medical service corporation that has received a permit from the Commissioner of Financial Regulation under section 4584 of this title shall not thereafter issue a contract to a subscriber or charge a rate that is different from copies of the contracts and rates originally filed with and […]
§ 4588. Annual report to Commissioner Annually, on or before March 1, a medical service corporation shall file with the Commissioner of Financial Regulation a statement sworn to by the president and treasurer of the corporation showing its condition on December 31, which shall be in such form and contain such matters as the Commissioner […]
§ 4589. Investments Funds of a medical service corporation may be invested in any prudent investment as permitted for an insurance company formed under chapter 101 of this title. The corporation shall file and obtain the Commissioner’s prior approval of its investment guidelines. Any amendments to the investment guidelines must be approved by the Commissioner […]
§ 4590. Tax exemption A medical service corporation shall be exempt from all forms of taxation except the health care claims tax assessed pursuant to 32 V.S.A. § 10402. (Amended 2003, No. 70 (Adj. Sess.), § 4, eff. March 1, 2004; 2019, No. 6, § 68, eff. April 22, 2019.)
§ 4591. Effect on liability under workers’ compensation law The provisions of this chapter or any contract for medical service shall in no way affect the liability of an employer under the provisions of the workers’ compensation law. (Amended 1981, No. 165 (Adj. Sess.), § 1.)
§ 4592. Exempt organizations Fraternal benefit societies and life or accident insurance companies are not affected by this chapter.
§ 4593. Reciprocal provisions A corporation organized under the laws of another state or country which, except as to state of organization, is a medical service corporation as defined by section 4583 of this title, and which the commissioner finds has fully complied with the laws of such other state or country, shall be entitled […]
§ 4594. Part-time employees A nonprofit medical service corporation shall not exclude part-time employees and shall offer the same insurance benefits to part-time employees as it offers to the employee groups of which the part-time employees would be members if they were full-time employees. The insurer shall offer to include the part-time employees as part […]
§ 4595. Change in control; material transactions; redomestication; establishment or acquisition of control of insurance company subsidiary (a)(1) No corporation permitted to engage in business under this chapter shall merge or consolidate with, sell, transfer, or exchange more than a 10 percent interest in the corporation or its assets to, or sell, transfer, or exchange […]
