The Vermont Statutes Online
The Statutes below include the actions of the 2024 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 8 : Banking and Insurance
Chapter 131 : Licensing Requirements
Subchapter 001 : PRODUCERS
(Cite as: 8 V.S.A. § 4798)-
§ 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.)
