The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 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 143 : Insurance Premium Finance Companies
(Cite as: 8 V.S.A. § 7003)-
§ 7003. Issuance and renewal of license
(a) Upon the filing of an application and the payment of the license fee, the Commissioner shall make an investigation of each applicant and shall issue a license, if the applicant is qualified in accordance with this chapter. If the Commissioner does not so find, he or she shall within 30 days after he or she has declined such application, at the request of the applicant, give the applicant a full hearing.
(b) The Commissioner shall issue or renew a license as may be applied for when he or she is satisfied that the person to be licensed:
(1) is competent and trustworthy and intends to act in good faith in the capacity involved by the license applied for;
(2) has a good business reputation and has had experience, training, or education so as to be qualified in the business for which the license is applied for; and
(3) if a corporation, is a corporation incorporated under the laws of this State or a foreign corporation authorized to transact business in this State. (Added 1983, No. 77, § 1.)
