2011 Vermont Code
Title 08 Banking and Insurance
Chapter 131 LICENSING REQUIREMENTS
§ 4813f Application for license

§ 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.), { 18.)