Vermont Statutes Title 8 Sec. 4798
Terms Used In Vermont Statutes Title 8 Sec. 4798
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Insurance producer: means a person required to be licensed under the laws of this State to sell, solicit, or negotiate insurance. See
- Limited lines producer: means a person authorized by the Commissioner to sell, solicit, or negotiate limited lines insurance as defined in subchapter 1A of this chapter. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 4798. Term of license
(a) Except as provided by subsections (b) and (d) of this section, all licenses issued pursuant to this subchapter shall continue in force not longer than 24 months.
(b)(1) All licenses of insurance producers and limited lines producers issued pursuant to this subchapter shall expire as of 12:01 a.m. o’clock on the first day of April of the odd-numbered year next following date of issuance; and
(2) all other license types issued pursuant to this subchapter shall expire as of 12:01 a.m. o’clock on the first day of April of the even-numbered year following the date of issuance; unless
(3) the licensee prior to the expiration of the license has filed with the Commissioner, on forms prescribed and furnished by the Commissioner, a request for renewal of such license for an ensuing 24-month period. Such request must be accompanied by payment of the renewal fee as provided in subdivision 4800(2) of this title.
(c) In order to spread continuation of insurance producer and limited lines producer appointment renewals with reasonable uniformity throughout the calendar year, the Commissioner may fix a date, “insurer’s anniversary,” upon which all such renewals of persons licensed under this chapter who have been appointed by that insurer shall be subject to renewal as to that particular insurer.
(d) Producer appointments shall expire as of 12:01 a.m. on the first day of June following the date of issuance. Annually, before the expiration of producer appointments, the Commissioner shall provide each insurer with an alphabetical appointment renewal list of the names for all of its producers in the State. Each insurer shall return the list and identify the producer appointments to be renewed in a manner and time specified by the Commissioner. Payment of the annual producer appointment renewal fee, as specified in section 4800 of this title, shall be made in a manner and time specified by the Commissioner. (Added 1969, No. 175 (Adj Sess.), § 8, eff. March 5, 1970; amended 1973, No. 217 (Adj. Sess.), § 8; 1985, No. 236 (Adj. Sess.), § 2, eff. June 3, 1986; 1999, No. 87 (Adj. Sess.), § 1; 2001, No. 97 (Adj. Sess.), § 7; 2019, No. 70, § 2, eff. June 1, 2021; 2019, No. 131 (Adj. Sess.), § 6; 2021, No. 105 (Adj. Sess.), § 226, eff. July 1, 2022.)