The Vermont Statutes Online
The Statutes below include the actions of the 2025 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.
(Cite as: 8 V.S.A. § 1801)
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§ 1801. Purposes
The expression “development credit corporation,” hereinafter called the corporation,
as used in this chapter shall mean a corporation, incorporated under the general laws
of the State, the purposes of which shall be:
(1) to provide financial assistance to industrial, agricultural, recreational, or other
enterprises potentially valuable to the State or its citizens, when and to the extent
which, such financing shall lie beyond the prescribed limits of laws governing banks
of deposit;
(2) to assist by research and counsel such enterprises;
(3) to conduct ex parte inquiries into ways and means of improving, promoting, or increasing
the general welfare of the State, its political subdivisions, and its citizens by
financial aid, counsel, or otherwise; and
(4) to dedicate its energies to the discovery of ways and means of returning to maximum
productivity any and all presently nonproducing assets in the State, for the dual
purpose of increasing the welfare of the owner and of augmenting the taxable potential
of the State. (Added 1969, No. 64, § 1, eff. Jan. 1, 1970; amended 1999, No. 153 (Adj. Sess.), § 3, eff. Jan. 1, 2001.)