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
:
GENERAL POWERS
(Cite as: 8 V.S.A. § 14104)
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§ 14104. Capital or surplus requirements
(a) Every Vermont financial institution shall establish and maintain adequate levels of
capital or surplus pursuant to standards established by the Commissioner.
(b) Any issuance considered as capital under subsection (a) of this section shall be submitted
to the Commissioner for review and approval at least 10 days prior to issuance and
include such documentation as the Commissioner deems necessary.
(c) Notwithstanding the provisions of subsections (a) and (b) of this section, the Commissioner
may permit the formation of a Vermont financial institution without capital or surplus
to be merged with or into or consolidated with an existing financial institution for
the purpose of facilitating a reorganization or acquisition transaction, including
a triangular merger transaction, involving such existing financial institution. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)