The Vermont Statutes Online
Banking and Insurance
2758a. Surrender of license, no effect on liability; reinstatement
(a) Any licensee
may surrender any license by delivering to the Commissioner the license and
notice that the licensee thereby surrenders such license.
shall not affect the licensee's civil or criminal liability for acts committed
prior to surrender. No revocation, suspension, or refusal to renew or surrender
of any license shall impair or affect the obligation of any preexisting lawful
contract between the licensee and any borrower.
Commissioner shall have authority to reinstate revoked, suspended, or
nonrenewed licenses or to issue new licenses to a licensee whose license or
licenses shall have been revoked, suspended, or nonrenewed if no fact or
condition then exists which would have justified the Commissioner in refusing
originally to issue such license under this chapter. (Added 2003, No. 81 (Adj.
Sess.), § 1; amended 2009, No. 137 (Adj. Sess.), § 3.)