§ 5032. Surplus lines broker may accept business from other producers
(a) A licensed surplus lines broker may originate surplus lines business himself or herself, or may accept such business from any other originating producer duly licensed as to the kind or kinds of insurance involved and may compensate such producer therefor.
(b) No originating producer shall knowingly misrepresent to the surplus lines broker any material fact involved in any such insurance transaction or in the eligibility of the risk for placement with a surplus lines broker. (Added 1979, No. 50, § 2; amended 1979, No. 197 (Adj. Sess.), § 9; 2001, No. 97 (Adj. Sess.), § 19.)
Structure Vermont Statutes
Title 8 - Banking and Insurance
Chapter 138 - Non-Admitted Insurers and Surplus Lines Insurance
§ 5021. Non-Admitted Insurance Act; short title
§ 5023. Surplus lines insurance; authorized
§ 5023a. Domestic surplus lines insurer; authorized
§ 5024. Conditions for placement of insurance
§ 5025. Exceptions concerning placement of insurance with non-admitted insurers; records
§ 5026. Solvent insurers required
§ 5027. Evidence of the insurance; changes; penalty
§ 5028. Information required on contract
§ 5029. Surplus lines insurance valid
§ 5030. Liability of surplus lines insurer for losses and unearned premiums
§ 5031. Licensing of surplus lines brokers
§ 5032. Surplus lines broker may accept business from other producers
§ 5033. Records of surplus lines broker
§ 5034. Quarterly reports; summary of exported business
§ 5036. Direct placement of insurance
§ 5037. Suspension, revocation, or refusal of surplus lines broker’s license