Vermont § 4795 - Controlled business

§ 4795. Controlled business

• (a) The Commissioner shall not grant, renew, continue, or permit to continue any license
  except for life insurance if he or she finds that the license is being or will be
  used by the applicant or licensee for the purpose of writing controlled business.
  Controlled business means: (1) insurance written on the interests of the licensee or those of his or her immediate
  family or of his or her employer; or (2) insurance covering himself or herself or members of his or her immediate family or
  a corporation, association, or partnership, or the officers, directors, substantial
  stockholders, partners, employees of the corporation, association, or partnership,
  of which he or she or a member of his or her immediate family is an officer, director,
  substantial stockholder, partner, associate, or employee; provided, however, that
  nothing in this subdivision shall apply to insurance written in connection with credit
  transactions. (b) The license shall be deemed to have been, or intended to be, used for the purpose
  of writing controlled business, if the Commissioner finds that during any 12-month
  period the aggregate commissions earned from the controlled business has exceeded
  25 percent of the aggregate commission earned on all business written by the applicant
  or licensee during the same period. (Amended 1969, No. 175 (Adj. Sess.), § 6, eff. March 5, 1970; 1973, No. 217 (Adj. Sess.), § 5.)