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 202 : Organization and Management of Investor-Owned Financial Institutions
Subchapter 001 : Organization and Commencing Business
(Cite as: 8 V.S.A. § 12102)-
§ 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.)
