§4813h. Nonresident licensing

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

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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

131

:
LICENSING REQUIREMENTS






Subchapter

001A
:
PRODUCER LICENSING REQUIREMENTS










 

§

4813h. Nonresident licensing

(a) Unless

denied licensure pursuant to section 4804 of this title, a nonresident person

shall receive a nonresident producer license if:

(1) The person

is currently licensed as a resident and in good standing in his or her home

state;

(2) The person

has submitted the proper request for licensure and has paid the fees required

by section 4800 of this title;

(3) The person

has submitted or transmitted to the Commissioner the application for licensure

that the person submitted to his or her home state, or in lieu of the same, a

completed Uniform Application; and

(4) The person's

home state awards nonresident producer licenses to residents of this State on

the same basis.

(b) The

Commissioner may verify the producer's licensing status through the producer

database maintained by the National Association of Insurance Commissioners, its

affiliates or subsidiaries.

(c) A

nonresident producer who moves from one state to another state or a resident

producer who moves from this State to another state shall file a change of

address and provide certification from the new resident state within 30 days of

the change of legal residence. No fee or license application is required.

(d)

Notwithstanding any other provision of this chapter, the Commissioner may allow

a person licensed as a limited lines producer in his or her home state to

receive a nonresident limited lines producer license, pursuant to subsection

(a) of this section, granting the same scope of authority as granted under the

license issued by the producer's home state. For the purposes of this section,

limited lines insurance is any authority granted by the home state which

restricts the authority of the license to less than the total authority

prescribed in the associated major lines pursuant to subdivisions 4813g(a)(1)

through (6) of this subchapter. (Added 2001, No. 97 (Adj. Sess.), § 18.)
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