§ 4796. Commissions; payment; acceptance
(a) An insurance company, insurance producer, limited lines, or surplus lines broker shall
not pay a commission, service fee, brokerage, or other valuable consideration to a
person for selling, soliciting, or negotiating insurance in this State if that person
is required to be licensed under this chapter and is not so licensed.
(b) A person shall not accept a commission, service fee, brokerage, or other valuable
consideration for selling, soliciting, or negotiating insurance in this State if that
person is required to be licensed under this chapter and is not so licensed.
(c) Renewal or other deferred commissions may be paid to a person for selling, soliciting,
or negotiating insurance in this State if that person was required to be licensed
under this chapter at the time of the sale, solicitation, or negotiation and was so
licensed at the time.
(d) An insurer, insurance producer, or limited lines producer may pay or assign commissions,
service fees, brokerages, or other valuable consideration to an insurance agency or
to persons who do not sell, solicit, or negotiate insurance in this State, unless
the payment would violate subdivision 4724(8) of this title.
(e) A person licensed under this chapter shall not accept a commission, service fee, brokerage,
or other valuable consideration for selling, soliciting, negotiating, or otherwise
orchestrating the sale, enrollment, membership, or other connection between a Vermont
resident and any arrangement involving the sharing of health-related expenses that
is not insurance as defined in section 3301a of this title. (Amended 1973, No. 217 (Adj. Sess.), § 6; 2001, No. 97 (Adj. Sess.), § 5; 2019, No. 63, § 8, eff. June 17, 2019.)