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Vermont · Through 2025 session

8 V.S.A. § 4822: Sanctions

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Where this section sits in the code
  1. Title 8: Banking and Insurance
  2. Chapter 131: Licensing Requirements
  3. Subchapter 002: REGULATION OF MANAGING GENERAL AGENTS, REINSURANCE INTERMEDIARIES, AND PRODUCER-CONTROLLED INSURERS

If the Commissioner determines, after notice and hearing, that any person has violated any provision of this subchapter, the Commissioner may:

(1) for each separate violation, impose a penalty up to $25,000.00;

(2) revoke or suspend the person’s license;

(3) order the managing general agent, reinsurance intermediary, or controlling producer to reimburse the insurer or reinsurer, or the rehabilitator or liquidator of the insurer or reinsurer for any losses incurred that are caused by a violation of this subchapter; and

(4) order the controlling producer to cease placing business with the controlled insurer.

Collected 2026-09-05T13:52:21Z. Source file · JSON

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