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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

131

:
LICENSING REQUIREMENTS






Subchapter

001
:
PRODUCERS










 

§

4806. Surrender of license; loss or destruction of license

(a) The

Commissioner shall promptly notify all appointing insurers, where applicable,

and the licensee regarding any suspension, revocation, or termination of

license by the Commissioner.

(b) Upon

suspension, revocation, or termination of the license of a resident of this

State, the Commissioner shall notify the central office of the National

Association of Insurance Commissioners and the commissioner of each state for

whom the licensee has executed a certificate as provided for in accordance with

subdivision 4800(3) of this title.

(c) Upon

suspension, revocation, or termination of a license, the licensee shall

forthwith deliver it to the Commissioner by personal delivery or by mail.

(d) Any licensee

who ceases to maintain his or her residency in this State as defined in

subdivision 4800(3) of this title, shall deliver his or her insurance license

or licenses to the Commissioner by personal delivery or by mail within 30 days

after terminating his or her residency.

(e) The

Commissioner may issue a duplicate license for any lost, stolen, or destroyed

license issued pursuant to this subchapter upon an affidavit of the licensee

prescribed by the Commissioner concerning the facts of the loss, theft, or

destruction. (Added 1963, No. 178, § 1, eff. June 27, 1963; amended 1973, No.

217 (Adj. Sess.), § 16; 2001, No. 97 (Adj. Sess.), § 13.)