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. § 7002)
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§ 7002. License required
(a) No person shall engage in the business of an insurance premium finance company in
the State without first having obtained a license as an insurance premium finance
company from the Commissioner.
(b) The annual license fee shall be $200.00. Licenses may be renewed from year to year
as of July 1 of each year upon payment of the fee of $200.00. The license fee shall
be paid to the Commissioner.
(c) The Commissioner shall have authority, at any time, to require the applicant to disclose
fully the identity of all stockholders, partners, officers, and employees and he or
she may, in his or her discretion, refuse to issue or renew a license in the name
of any firm, partnership, or corporation if he or she is not satisfied that any officer,
employee, stockholder, or partner thereof who may materially influence the applicant’s
conduct meets the standards of this chapter.
(d) This section shall not apply to any building or savings and loan association, bank,
trust company, licensed lender, or credit union authorized to do business in this
State, nor to an insurance company or to an insurance agent or insurance broker licensed
to do business in this State financing premiums on policies written by such agent
or broker; provided, however, that all other provisions of this chapter shall apply
to the financing of insurance premiums. (Added 1983, No. 77, § 1.)