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House concurs in senate amendments to captive-insurance bill, adds moratorium and consumer limits for virtual-currency kiosks
Summary
The Vermont House concurred in a Senate proposal of amendment to H.659 (captive insurance) with a further House amendment that adopts several DFR housekeeping model-law updates and adds a two-year moratorium, daily and fee limits, and licensing steps for virtual-currency kiosks pending a regulator report.
Members of the Vermont House agreed to concur in a Senate amendment to House Bill 659 and adopted a further amendment after debate on the floor.
The Member from Bethel, presenting the bill, said the Senate amendment is largely housekeeping from the Department of Financial Regulation (DFR) and includes adoption of National Association of Insurance Commissioners (NAIC) model-law updates, a pet-insurance model and conforming language tied to a Conference of State Bank Supervisors (CSBS) money-transmission modernization act. The presenter said those changes are intended to keep…
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