The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 8 : Banking and Insurance
Chapter 221 : Organization and Management of Credit Union
Subchapter 005 : Net Worth; Reserves; Dividends
(Cite as: 8 V.S.A. § 31507)-
§ 31507. Standards
For purposes of this subchapter, in the absence of standards otherwise prescribed by the Commissioner, a credit union shall follow the standards established by the National Credit Union Administration (NCUA). In the event standards established by the NCUA require the credit union to accumulate or maintain accounts in an amount in excess of the standard established by the Commissioner, the credit union shall accumulate and maintain such accounts in a manner sufficient to satisfy the requirements of the NCUA. (Added 2005, No. 16, § 1, eff. July 1, 2005; amended 2021, No. 105 (Adj. Sess.), § 329, eff. July 1, 2022.)
