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STATE OF VERMONT
DEPARTMENT OF FINANCIAL REGULATION
IN RE: ABDULRASHEED Berte ) docket no. 20-001-I
VT LICENSE # 3433271 )
NPN # 8768813 )
DEFAULT JUDGMENT AND ORDER
I.FINDINGS OF FACT
Respondent Abdulrasheed Berte (“Respondent”) holds Vermont non-resident insurance producer license # 3433271.
On October 9, 2019, the Commissioner of Insurance of the Louisiana Department of Insurance issued a Notice of Revocation Order to Respondent (“Louisiana Order”).
The Louisiana Order states that Respondent surrendered his North Carolina insurance producer license pursuant to a document in which he agreed to surrender the license for ten years and to not re-apply for any type of license within that time period.
The Louisiana Orders states that Respondent did not respond to requests from the Louisiana Department of Insurance requesting information explaining the reason he surrendered his North Carolina insurance producer license.
The Louisiana Order states that Respondent’s “failure to provide a statement [to the Louisiana Department of Insurance] regarding surrender of [his] license with the North Carolina Department of Insurance as ordered” is a violation of Louisiana statute.
The Louisiana Order put Respondent on notice that his Louisiana insurance producer license was revoked 30 days after the Louisiana Order’s issuance.
On January 6, 2020, the Insurance Division served upon Respondent the Petition for Revocation of License (“the Petition”) and Notice of Right to Request Hearing (“the Notice”) filed in the above-captioned matter.
As of the effective date of this Default Judgment and Order, more than 30 days after service of the Petition and Notice, no answer, request for a hearing, or other defense to the Petition has been received by the Insurance Division from Respondent.
More than 10 days have passed since the Insurance Division filed a motion for default judgment in the above-captioned matter and served the motion on Respondent.
II.CONCLUSIONS OF LAW
Because Respondent violated Louisiana’s insurance laws, resulting in revocation of his Louisiana insurance producer license, revocation of his Vermont insurance producer license is authorized pursuant to 8 V.S.A. § 4804(a)(3) and (10).
Because no answer, request for a hearing, or other defense to the Petition has been received by the Insurance Division from Respondent, and as more than 10 days have passed since the Insurance Division filed a motion for default judgment, the allegations contained in the Petition are treated as proven and a default judgment may be entered in the above-captioned matter, pursuant to Sections 5 and 12 of the Vermont Department of Financial Regulation (formerly known as the Vermont Department of Banking, Insurance, Securities and Health Care Administration) Hearing Procedures, identified as Regulation 82-1.
Based on the findings of fact and conclusions of law set forth above, a default judgment is entered against Respondent and it is hereby ordered that the non-resident insurance producer license # 3433271 of Respondent Abdulrasheed Berte is revoked, effective immediately.
Dated at Montpelier, Vermont this ______ day of ____________ 2020.
Michael S. Pieciak
Commissioner of Financial Regulation
Vermont Department of Financial Regulation