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|Docket No. 2010-040-I||125.84 KB|
Falsely representing on two applications for annuities that the two applicants were not replacing existing insurance when Respondent knew that the applicants both had existing annuity contracts with another company that had been surrendered in order to purchase the annuities applied for in violation of Vermont Insurance Regulation I-2001-03 and the Vermont Insurance Trade Practices Act, 8 V.S.A. § 4721. Respondent signed the two (2) applications for annuities as the primary agent when Respondent never met with the applicants before he signed the applications and Respondent did not collect or corroborate any of the applicants' information on the applications.