The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 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 200 : Consumer Protection
Subchapter 005 : Bank Products; Prohibitions
(Cite as: 8 V.S.A. § 10502)-
§ 10502. Definitions relating to basic banking
As used in sections 10501 through 10504 of this title, the following terms shall have the following meanings:
(1) “Basic checking account” means a deposit account on which the consumer is permitted to make payments or transfers by check, money order, or other negotiable instruments and that is maintained by such person for personal, family, or household purposes.
(2) “Basic savings account” means a savings account or statement savings that is maintained by such person for personal, family, or household purposes.
(3) “Consumer” means a natural person. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
