Vermont Statutes Title 8 Sec. 4813g
Terms Used In Vermont Statutes Title 8 Sec. 4813g
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- 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
- License: means a document issued by the Commissioner authorizing a person to act as an insurance producer for the lines of authority specified in the document. See
- Personal property: All property that is not real property.
- 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
§ 4813g. License
(a) An insurance producer may receive qualification for a license and an appointment in one or more of the following lines of authority:
(1) Life: insurance coverage on human lives, including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income.
(2) Accident and health or sickness: insurance coverage for sickness, bodily injury, or accidental death, and may include benefits for disability income.
(3) Property: insurance coverage for the direct or consequential loss or damage to property of every kind.
(4) Casualty: insurance coverage against legal liability, including that for death, injury, or disability or damage to real or personal property.
(5) Variable life and variable annuity products: insurance coverage provided under variable life insurance contracts and variable annuities.
(6) Personal lines: property and casualty insurance coverage sold to individuals and families for primarily noncommercial purposes.
(7) Any other line of insurance permitted under State laws or regulations.
(b) An insurance producer license shall remain in effect unless revoked or suspended as long as the fee set forth in section 4800 of this title is paid and education requirements for resident individual producers are met by the due date.
(c) A licensed insurance producer who is unable to comply with license renewal procedures due to military service or some other extenuating circumstance (for example, including a long-term medical disability) may request a waiver of those procedures. The producer may also request a waiver of any examination requirement or any other fine or sanction imposed for failure to comply with renewal procedures.
(d) [Repealed.] (Added 2001, No. 97 (Adj. Sess.), § 18; amended 2009, No. 137 (Adj. Sess.), § 9.)