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
004
:
DIVIDENDS, DISTRIBUTIONS, AND WITHDRAWALS
(Cite as: 8 V.S.A. § 12401)
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§ 12401. Limitation; form
(a) A Vermont financial institution may not authorize dividends, distributions, or withdrawals
that reduce capital below the higher of the amount required under the certificate
of general good or section 14104 of this title without the prior approval of the Commissioner.
(b) Dividends, distributions, and withdrawals shall be in cash or as otherwise authorized
by the Commissioner. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)