§4813f. Application for license

Link to law: http://legislature.vermont.gov/statutes/section/08/131/04813f
Published: 2015

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now

The Vermont Statutes Online



Banking and Insurance








4813f. Application for license

(a) An

individual applying for a resident insurance producer license shall make

application to the Commissioner on the Uniform Application, and declare under

penalty of refusal, suspension, or revocation of the license that the

statements made in the application are true, correct, and complete to the best

of the individual's knowledge and belief. Before approving the application, the

Commissioner shall find that the individual:

(1) is at least

18 years of age;

(2) has not

committed any act that is a ground for denial, suspension, or revocation set

forth in section 4804 of this title;

(3) is

competent, trustworthy, financially responsible, and of good personal and

business reputation;

(4) has paid the

fees set forth in section 4800 of this title; and

(5) has

successfully passed the examinations for the lines of authority for which the

person has applied.

(b) As soon as

practicable, but no later than April 1, 2003, the Commissioner shall permit a

business entity to be licensed as an insurance producer. Application shall be

made using the Uniform Business Entity Application. Except as permitted by

regulation, licensure of a business entity shall not relieve any natural person

who sells, solicits, or negotiates insurance of the requirement to be licensed

under this chapter. Before approving the application, the Commissioner shall

find that:

(1) The business

entity has paid the fees set forth in section 4800 of this title.

(2) The business

entity has designated a licensed producer who is a natural person responsible

for the business entity's compliance with the insurance laws, rules, and

regulations of this State.

(c) The

Commissioner may require any documents reasonably necessary to verify the

information contained in an application. (Added 2001, No. 97 (Adj. Sess.), §