Vermont § 4813k - Temporary licensing

§ 4813k. Temporary licensing

• (a) The Commissioner may issue a temporary insurance producer license for a period not
  to exceed 180 days without requiring an examination if the Commissioner deems that
  the temporary license is necessary for the servicing of an insurance business in the
  following cases: (1) to the surviving spouse or court-appointed personal representative of a licensed insurance
  producer who dies or becomes mentally or physically disabled to allow adequate time
  for the sale of the insurance business owned by the producer or for the recovery or
  return of the producer to the business or to provide for the training and licensing
  of new personnel to operate the producer’s business; (2) to a member or employee of a business entity licensed as an insurance producer, upon
  the death or disability of an individual designated in the business entity application
  or license; (3) to the designee of a licensed insurance producer entering active service in the Armed
  Forces of the United States of America; or (4) in any other circumstance where the Commissioner deems that the public interest will
  best be served by the issuance of this license. (b) The Commissioner may, by order, limit the authority of any temporary licensee in any
  way deemed necessary to protect insureds and the public. The Commissioner may require
  the temporary licensee to have a suitable sponsor who is a licensed producer or insurer
  and who assumes responsibility for all acts of the temporary licensee and may impose
  other similar requirements designed to protect insureds and the public. The Commissioner
  may, by order, revoke a temporary license if the interest of insureds or the public
  is endangered. A temporary license may not continue after the owner or the personal
  representative disposes of the business. (Added 2001, No. 97 (Adj. Sess.), § 18.)