The Vermont Statutes Online
The Statutes below include the actions of the 2024 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 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