Skip to navigation Skip to content Skip to subnav
Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 8 : Banking and Insurance

Chapter 204 : POWERS OF FINANCIAL INSTITUTIONS

Subchapter 002 : Deposits in General

(Cite as: 8 V.S.A. § 14208)
  • § 14208. Security for deposits

    No Vermont or state financial institution may pledge, hypothecate, or deliver any of its assets of any description whatsoever as security for a deposit of private funds, or for the purpose of indemnifying any person, as surety for the financial institution, or as surety for any other person. However, a Vermont financial institution or state financial institution may so secure a deposit to the credit of the United States, of the State of Vermont, or of any political subdivisions of the State, either directly or indirectly. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)