The Vermont Statutes Online
The Statutes below include the actions of the 2025 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.
(Cite as: 8 V.S.A. § 7001)
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§ 7001. Definitions
As used in this chapter:
(1) “Insurance premium finance company” means a person engaged in the business of entering
into insurance premium finance agreements or acquiring insurance premium finance agreements
from other insurance premium finance companies. For the purpose of this chapter and
section 2201 of this title, insurance premium finance company includes any insurance company, insurance agent
or broker, or other lender who finances insurance premiums.
(2) “Insurance premium finance agreement” means an agreement by which an insured or prospective
insured promises to pay to an insurance premium finance company the amount advanced
or to be advanced under the agreement to an insurer or to an insurance agent or broker
in payment of premiums of an insurance contract together with interest and a service
charge as authorized and limited by this chapter.
(3) “Licensee” means an insurance premium finance company holding a license issued under
section 7002 of this title.
(4) “Person” means an individual, partnership, association, business corporation, nonprofit
corporation, common law trust, joint stock company, or any other group of individuals
however organized.
(5) “Commissioner” means the Commissioner of Financial Regulation. (Added 1983, No. 77, § 1; amended 1989, No. 225 (Adj. Sess.), § 25; 1995, No. 180 (Adj. Sess.), § 38; 2011, No. 78 (Adj. Sess.), § 2, eff. April 2, 2012.)