Vermont § 7002 - License required
Full text of Vermont Vermont Statutes Online § 7002 — License required, with citation guidance and answers to common questions.
§ 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.)
Frequently Asked Questions About Vermont § 7002
What does Vermont Statutes Online § 7002 cover?
Section 7002 ("License required") 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 § 7002?
A common citation format is "Vermont Statutes Online § 7002" (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 § 7002 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.