32 V.S.A. § 8162 — Foreign corporations

When a foreign insurance, surety, or guaranty company, or an agent thereof fails to
make returns or to pay the taxes as required in this chapter, the Commissioner shall
notify the Commissioner of Financial Regulation thereof, who shall thereupon revoke
the license of such company and its agents to do business in this State. Notice in
writing of such revocation shall be mailed by the Commissioner of Financial Regulation
to such company addressed to its principal office or place of business in the United
States and to the Commissioner of Taxes. In the discretion of the Commissioner of
Financial Regulation, such notice may be sent by mail or otherwise to any or all of
the agents of such company residing in this State. The license of foreign loan, mortgage,
or investment companies in like manner and for like causes shall be revoked by the
Commissioner of Financial Regulation, and like notice thereof shall be given by such
Commissioner. (Amended 1989, No. 225 (Adj. Sess.), § 25(b); 1995, No. 180 (Adj. Sess.), § 38(a); 2011, No. 78 (Adj. Sess.), § 2, eff. April 2, 2012.)