Vermont § 4796 - Commissions; payment; acceptance
Full text of Vermont Vermont Statutes Online § 4796 — Commissions; payment; acceptance, with citation guidance and answers to common questions.
§ 4796. Commissions; payment; acceptance
- (a) An insurance company, insurance producer, limited lines, or surplus lines broker shall
not pay a commission, service fee, brokerage, or other valuable consideration to a
person for selling, soliciting, or negotiating insurance in this State if that person
is required to be licensed under this chapter and is not so licensed. (b) A person shall not accept a commission, service fee, brokerage, or other valuable
consideration for selling, soliciting, or negotiating insurance in this State if that
person is required to be licensed under this chapter and is not so licensed. (c) Renewal or other deferred commissions may be paid to a person for selling, soliciting,
or negotiating insurance in this State if that person was required to be licensed
under this chapter at the time of the sale, solicitation, or negotiation and was so
licensed at the time. (d) An insurer, insurance producer, or limited lines producer may pay or assign commissions,
service fees, brokerages, or other valuable consideration to an insurance agency or
to persons who do not sell, solicit, or negotiate insurance in this State, unless
the payment would violate subdivision 4724(8) of this title. (e) A person licensed under this chapter shall not accept a commission, service fee, brokerage,
or other valuable consideration for selling, soliciting, negotiating, or otherwise
orchestrating the sale, enrollment, membership, or other connection between a Vermont
resident and any arrangement involving the sharing of health-related expenses that
is not insurance as defined in section 3301a of this title. (Amended 1973, No. 217 (Adj. Sess.), § 6; 2001, No. 97 (Adj. Sess.), § 5; 2019, No. 63, § 8, eff. June 17, 2019.)
Frequently Asked Questions About Vermont § 4796
What does Vermont Statutes Online § 4796 cover?
Section 4796 ("Commissions; payment; acceptance") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 4796?
A common citation format is "Vermont Statutes Online § 4796" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 4796 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.