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 079 : Money Services
Subchapter 002 : MONEY TRANSMISSION LICENSES
(Cite as: 8 V.S.A. § 2506)-
§ 2506. Application for license; additional information
(a) In addition to the information required by section 2102 of this title, an application for a license under this subchapter shall state or contain:
(1) a description of any money services previously provided by the applicant and the money services that the applicant seeks to provide in this State;
(2) a list of the applicant’s proposed authorized delegates and the locations in Vermont where the applicant and its authorized delegates propose to engage in money transmission or provide other money services;
(3) a list of other states in which the applicant is licensed to engage in money transmission or provide other money services;
(4) information concerning any bankruptcy or receivership proceedings affecting the licensee or a person in control of a licensee;
(5) a sample form of contract for authorized delegates, if applicable;
(6) a sample form of payment instrument or instrument upon which stored value is recorded, as applicable; and
(7) the name and address of any financial institution through which the applicant plans to conduct money services.
(b) For good cause shown and consistent with the purposes of this section, the Commissioner may waive one or more requirements of this section or permit an applicant to submit substituted information in lieu of the required information. (Added 2023, No. 110 (Adj. Sess.), § 40, eff. July 1, 2024.)
