Vermont NRL Rules

VERMONT

NRL RULES

Yes	Accepts licenses for Individuals electronically
Yes	Accepts licenses for Business Entities electronically (beginning 6/15/09)
No	Accepts Limited License Classes and Lines of Authority electronically
Yes	Applicants can add lines of authority to an existing active license electronically
Yes	Applicants can reinstate a license electronically
Yes	Amendments will be accepted

CONTACT INFORMATION

Department of Banking, Insurance,
Securities and Health Care Administration
89 Main Street
Montpelier, VT 05620-3101
Fax: (802)-828-1633

STATE SPECIFIC REQUIREMENTS

Retaliatory Fees Apply.
State fees will be collected by NIPR (on behalf of VT) when a transaction is deferred according to VT business rules. Transaction fees and processing fees will also apply. Violation of the following rules will result in a decline response.
All Applicants must be 18 years old or older as determined from the applicant’s Date of Birth.
Residents of Guam, Virgin Islands and the American Samoa are not allowed to apply electronically & will need to submit a paper application. Retaliatory fees apply.
Canadian citizens not holding a Resident License in the United States must apply by submitting a paper application to the Vermont Department of Insurance. Retaliatory Fees apply.
Attestation must be accepted.
Applicant’s license number must match current PDB record for resident state.
Applicant’s SSN/FEIN must match current PDB record for resident state.
Applicant’s name must match current PDB record for resident state.
All the applicant’s addresses must match current PDB record for resident state.
Applicant must not be applying for a license in their own resident state.
Applicant’s state of residence must match current PDB record.
Applicant must have an active equivalent license for the requested LOA(s) in their resident state.
All business entities must have at least one active DRLP in VT. (Application verifies SSN and first 5 digits of last name from SPLD/PDB)
Missed License Renewal Deadlines - Vermont producer licenses expired on March 31, 2009. Accordingly, the license of a producer who did not renew as of March 31, 2009 has now lapsed. Vermont does not have a "grace period" for license renewal, and a license cannot be "reactivated". A producer whose license has lapsed must reapply for a new producer license in order to do business in Vermont.
Individual applicants must hold both a Life and Variable Life and Annuity qualification in their home state in order for them to request a Variable Life and Annuity license in VT. In addition to this requirement applicants for variable annuities must provide FINRA(Previously NASD) CRD number as well as be registered with the Jurisdictions Securities Department.
Upon answering any of the background questions with a “YES” response, please send
- a written statement explaining the circumstances
- a certified copy of the official document which demonstrates the resolution of the charges or any final judgment

Please send to:
Department of Banking, Insurance, Securities and Health Care Administration
89 Main Street
Montpelier, VT 05620-3101
Fax: (802)-828-1633

Please include Name, SSN/FEIN, and NIPR Transaction Number on correspondence.