The Vermont Statutes Online
The Statutes below include the actions of the 2024 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 204 : Powers of Financial Institutions
Subchapter 001 : GENERAL POWERS
(Cite as: 8 V.S.A. § 14103)-
§ 14103. Advertising; doing business or using name unlawfully
No person shall advertise or put forth any sign as a bank, banking association, or trust company, or in any way solicit or receive deposits or transact business as a bank, banking association, financial institution, or trust company, or use the word “bank,” “banking association,” or “trust company” or other similar sounding word or name unless it is a financial institution reporting to and under the supervision of the Commissioner or is authorized to conduct such business in this State under federal law, or unless the Commissioner approves the activity or word or name used in writing after giving due consideration for whether the activity, word, or name will confuse or mislead the public as to the nature of the business of the entity. However, this section shall not prevent an individual, as such, from acting in a trust capacity. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
