The Vermont Statutes Online
The Vermont Statutes Online does not include the actions of the 2024 session of the General Assembly. We expect them to be updated by November 1st.
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 001: Organization and Commencing Business
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§ 31101. Application to organize
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§ 31102. Issuance of certificate of approval; refusal to issue certificate of approval
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§ 31103. Requirements to commence business; minimum initial share deposits; certificate of authority
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§ 31104. Submission to Secretary of State
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§ 31105. Payment of share deposits
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§ 31106. Certificate to commence business; insurance; bond
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§ 31107. Failure to commence business
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§ 31108. Amendment to articles of incorporation
- Subchapter 002: Bylaws and Name
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§ 31201. Bylaws; amendment of bylaws
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§ 31202. Credit union name
- Subchapter 003: Governing Body, Officers, and Committees
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§ 31301. Number and election of directors
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§ 31302. Duties of governing body
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§ 31303. Executive committee
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§ 31304. Meetings of governing body
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§ 31305. Officers
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§ 31306. Supervisory committee
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§ 31307. Credit committee; credit manager
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§ 31308. Duties of officers, directors, and committee members
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§ 31309. Oaths of office; certificate of election
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§ 31310. Prohibited management interlocks
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§ 31311. Suspension and removal
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§ 31312. Vacancies
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§ 31313. Conflict of interest
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§ 31314. Compensation; insurance; expenses
- Subchapter 004: Membership
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§ 31401. Field of membership
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§ 31402. Membership application
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§ 31403. Liability of members
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§ 31404. Membership termination
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§ 31405. Suspension of services
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§ 31406. Meetings of members
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§ 31407. Special membership meetings
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§ 31408. Notice to members of annual and special meeting
- Subchapter 005: Net Worth; Reserves; Dividends
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§ 31501. Net worth
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§ 31502. Regular reserve account
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§ 31503. Allowance for loan and lease loss
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§ 31504. Unrealized gain or loss on available for sale securities
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§ 31505. Additional or special reserves
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§ 31506. Dividends to shareholders; conditions precedent
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§ 31507. Standards
- Subchapter 006: Bonds and Insurance
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§ 31601. Share insurance
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§ 31602. Bonds and insurance
- Subchapter 007: Corporate Credit Unions
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§ 31701. General application
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§ 31702. Organization
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§ 31703. Membership
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§ 31704. Purposes
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§ 31705. Powers
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§ 31706. Reserves