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. § 2760)
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§ 2760. Separate bank account for the benefit of creditors; books and records
(a) Each licensee shall maintain a separate federally insured bank account for the benefit
of debtors in which all payments received from debtors for the benefit of creditors
shall be deposited and in which all payments shall remain until a remittance is made
to either a debtor or a creditor.
(b) Every licensee shall keep, and use in its business, books, accounts, and records that
will enable the Commissioner to determine whether such licensee is complying with
the provisions of this chapter and with the regulations of the Commissioner. Every
licensee shall preserve such books, accounts, and records for at least seven years
after making the final entry on any transaction recorded therein. The items specified
in this subsection may be maintained in any form of record as permitted in subsection 11301(c) of this title. (Added 1969, No. 204 (Adj. Sess.), eff. March 23, 1970; amended 2003, No. 81 (Adj. Sess.), § 1; 2009, No. 137 (Adj. Sess.), § 3.)