Vermont § 7062 - Duties of agents
Full text of Vermont Vermont Statutes Online § 7062 — Duties of agents, with citation guidance and answers to common questions.
§ 7062. Duties of agents
- (a) Every person who receives notice in the form prescribed in section 7061 of this title that an insurer which he or she represents as an agent is the subject of a liquidation
order shall, within 30 days of such notice, provide to the liquidator (in addition
to the information he or she may be required to provide pursuant to section 7034 of this title) the information in the agent’s records related to any policy issued by the insurer
through the agent and, if the agent is a general agent, the information in the general
agent’s records related to any policy issued by the insurer through an agent under
contract to him or her, including the name and address of such sub-agent. A policy
shall be deemed issued through an agent if the agent has a property interest in the
expiration of the policy, or if the agent has had in his or her possession a copy
of the declarations of the policy at any time during the life of the policy, except
where the ownership of the expiration of the policy has been transferred to another. (b) An agent who fails to give notice or file a report of compliance as required in subsection
(a) of this section may be subject to payment of a penalty of not more than $1,000.00
and may have his or her license suspended after a hearing held by the Commissioner. (Added 1991, No. 45, § 2, eff. May 29, 1991.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 7062
What does Vermont Statutes Online § 7062 cover?
Section 7062 ("Duties of agents") 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 § 7062?
A common citation format is "Vermont Statutes Online § 7062" (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 § 7062 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.