The Vermont Statutes Online

Title 8 : Banking and Insurance

Chapter 131 : Licensing Requirements

Subchapter 001A : Producer Licensing Requirements

• § 4813l. Appointments

  (a) An insurance producer or limited lines producer shall not act as an agent of an insurer unless the producer becomes an appointed agent of that insurer. A producer who is not acting as an agent of an insurer is not required to become appointed.

  (b) An appointment shall be made by an insurer designating an insurance producer or limited lines producer as an agent of the insurer for the lines of insurance the producer will be authorized to sell, solicit, or negotiate for the insurer.

  (c) As set forth in section 4813g of this subchapter, an insurer shall make a separate appointment for each line of insurance for which an insurance producer or limited lines producer will be acting as an agent of the insurer.

  (d) To appoint a producer as its agent, the appointing insurer shall file, in a format approved by the Commissioner, a notice of appointment within 15 days from the date the agency contract is executed or the first insurance application is submitted, whichever is sooner.

  (e) An insurer shall pay an appointment fee, in the amount and method of payment set forth in section 4800 of this title, for each insurance producer appointed by the insurer and for each line of insurance in which a producer is qualified.

  (f) An insurer shall remit, in a manner prescribed by the Commissioner, a renewal appointment fee in the amount set forth in section 4800 of this title.

  (g) As soon as practicable, the Commissioner shall permit an insurer to appoint a producer to all or some insurers within the insurer’s holding company system or group by the filing of a single appointment request. (Added 2001, No. 97 (Adj. Sess.), § 18.)