Vermont Statutes Title 8. Banking and Insurance, § 4519. Application of chapter

(a) Hospital service corporations or associations formed prior to April 7, 1939 may continue their existence and may fulfill their contracts and enter into new contracts as now written, including provisions in their contracts for medical, surgical, and nursing as well as hospital services, provided that such contracts written after July 1, 1939 shall be subject to the approval of the Commissioner of Financial Regulation as provided in section 4513 of this title.

(b) Except as set forth in subsection (a) of this section, a hospital service plan as described in this chapter shall not be established, maintained, or operated by an unincorporated association. All hospital service corporations organized after April 7, 1939 and their contracts shall be subject to the provisions of this chapter.