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
002
:
INTERSTATE BRANCHING AND ACTIVITIES
(Cite as: 8 V.S.A. § 15201)
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§ 15201. Establishment of branches outside Vermont
(a) A Vermont financial institution may establish a branch in any state other than this
State by merger, consolidation, acquisition, or as otherwise permitted by and in accordance
with the laws of such host state and applicable federal financial institution laws.
(b) A merger or consolidation pursuant to this section shall be in accordance with and
subject to the provisions of chapter 207 of this title.
(c) Not later than the date on which the required application is filed with the responsible
federal supervisory agency, the applicant in the establishment of a branch under this
section shall file an application on a form prescribed by the Commissioner. If the
Commissioner finds that the proposed transaction will not be detrimental to the safety
or soundness of the applicant and the applicant has obtained and provided the Commissioner
with copies of all other required approvals, the Commissioner shall approve the application
and the operation of the branch outside this State.
(d) A branch of a Vermont financial institution that is located in another state may conduct
any activity that is permissible for a branch in that state of a financial institution
incorporated under the laws of such state. In order to engage in trust activities
in an out-of-state branch, a Vermont financial institution shall have previously obtained
the Commissioner’s approval to engage in trust activities under section 14403 of this title. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)