The bill amends various sections of the Vermont Statutes Annotated, focusing on insurance regulations, particularly regarding captive insurance companies, mutual insurance companies, and virtual currency transactions. Key provisions include the establishment of confidentiality for investigation and examination reports conducted by the Commissioner, with specific disclosure conditions. It also prohibits insurers from discriminating against affordable housing based on factors like income levels or rental assistance. Additionally, the bill introduces governance standards for risk retention groups, mandates financial condition reports for captive insurance companies, and outlines requirements for dormant captive insurance companies, including maintaining minimum capital and surplus.

Moreover, the bill enhances consumer protection in virtual currency transactions by imposing regulations on kiosk operators. These include mandatory disclosures about rights and responsibilities, transaction limits, and the implementation of antifraud policies. Operators must verify customer identities and provide detailed transaction receipts. The legislation also amends laws regarding mutual financial institutions, ensuring that corporators are residents and depositors of the served area, with a majority being independent. The act is set to take effect on July 1, 2025, with certain provisions related to Medicare supplement insurance starting on January 1, 2026.

Statutes affected:
As Introduced: 8-23, 8-3303, 8-4688(a), 8-4688, 8-6002(a), 8-6002, 8-6004(d), 8-6004, 8-6006, 8-6006a(a), 8-6006a, 8-6007(b), 8-6007, 8-6011(a), 8-6011, 8-6024(c), 8-6024, 8-6045, 8-6048d(c)(2), 8-6048d, 8-6048d(c), 8-6052(g), 8-6052
As Passed By the House -- Official: 8-23, 8-3303, 8-4688(a), 8-4688, 8-6002(a), 8-6002, 8-6004(d), 8-6004, 8-6006, 8-6006a(a), 8-6006a, 8-6007(b), 8-6007, 8-6011(a), 8-6011, 8-6024(c), 8-6024, 8-6045, 8-6048d(c)(2), 8-6048d, 8-6048d(c), 8-6052(g), 8-6052, 8-4724, 8-2504, 9-42, 8-4062b, 8-2577(f), 8-2577
As Passed By the House -- Unofficial: 8-23, 8-3303, 8-4688(a), 8-4688, 8-4724, 8-6002(a), 8-6002, 8-6004(d), 8-6004, 8-6006, 8-6006a(a), 8-6006a, 8-6007(b), 8-6007, 8-6011(a), 8-6011, 8-6024(c), 8-6024, 8-6045, 8-6048d(c)(2), 8-6048d, 8-6048d(c), 8-6052(g), 8-6052, 8-2504, 9-42, 8-4062b, 8-2577(f), 8-2577
As Passed by Both House and Senate -- Official: 8-23, 8-3303, 8-4688(a), 8-4688, 8-6002(a), 8-6002, 8-6004(d), 8-6004, 8-6006, 8-6006a(a), 8-6006a, 8-6007(b), 8-6007, 8-6011(a), 8-6011, 8-6024(c), 8-6024, 8-6045, 8-6048d(c)(2), 8-6048d, 8-6048d(c), 8-6052(g), 8-6052, 8-4724, 8-2504, 9-42, 8-4062b, 8-2577(f), 8-2577, 8-2571, 8-2574, 8-13301
As Passed by Both House and Senate -- Unofficial: 8-23, 8-3303, 8-4688(a), 8-4688, 8-4724, 8-6002(a), 8-6002, 8-6004(d), 8-6004, 8-6006, 8-6006a(a), 8-6006a, 8-6007(b), 8-6007, 8-6011(a), 8-6011, 8-6024(c), 8-6024, 8-6045, 8-6048d(c)(2), 8-6048d, 8-6048d(c), 8-6052(g), 8-6052, 8-2504, 9-42, 8-4062b, 8-2571, 8-2574, 8-2577, 8-13301
As Enacted: 8-23, 8-3303, 8-4688(a), 8-4688, 8-4724, 8-6002(a), 8-6002, 8-6004(d), 8-6004, 8-6006, 8-6006a(a), 8-6006a, 8-6007(b), 8-6007, 8-6011(a), 8-6011, 8-6024(c), 8-6024, 8-6045, 8-6048d(c)(2), 8-6048d, 8-6048d(c), 8-6052(g), 8-6052, 8-2504, 9-42, 8-4062b, 8-2571, 8-2574, 8-2577, 8-13301