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.
Subchapter
001
:
ORGANIZATION AND COMMENCING BUSINESS
(Cite as: 8 V.S.A. § 12102)
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§ 12102. Issuance of certificate of general good; refusal to issue certificate of general good
(a) Certificate of general good. The Commissioner shall determine whether or not a certificate of general good shall
be granted to organize a financial institution under this chapter and shall make the
decision in accordance with the requirements of chapter 201, subchapter 7 of this
chapter.
(b) Conditions. A grant of a certificate of general good may be made subject to such terms and conditions
as the Commissioner determines necessary. The certificate of general good shall be
submitted to the Secretary of State with the organizational documents that are required
to be filed with the Secretary of State. The conditions may include conditions regarding
the organizational form of the financial institution under this chapter.
(c) Effect of refusal to issue certificate of general good. If the Commissioner refuses to issue a certificate of general good, a new application
may be filed by the applicant after one year from the date of the refusal. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)