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Is a Courtesy Filing Permitted in Vermont?

Submitted by VLHudson on
Answer

No. Under Vermont law any individual placing surplus line business for a Vermont home state exposure must be licensed in Vermont as a surplus lines broker. It is the responsibility of the surplus lines broker placing the exposure to remit the tax due. The practice of "courtesy Filings" arose years ago when Vermont did not issue licenses to nonresident surplus lines brokers. The law was amended in 2001 to allow for the licensure of nonresident surplus lines brokers. Accordingly, any individual placing surplus lines business for a Vermont home state exposure must obtain a Vermont surplus lines broker license.

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