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. § 15204)
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§ 15204. Other activities
(a) Subject to subsection (b) of this section, a financial institution having its principal
office in a jurisdiction other than Vermont may maintain or conduct the following
offices or activities in this State:
(1) a temporary agency;
(2) an office used solely for internal operations of the institution to which the public
is not admitted for the conduct of financial institution business;
(3) an automated teller machine owned by other than a Vermont financial institution; provided,
however, that it does not accept deposits or transfer funds between accounts;
(4) loan production;
(5) foreign exchange services; or
(6) any other financial institution related office or activity that the Commissioner determines
may be maintained or conducted in this State.
(b) A financial institution shall obtain the Commissioner’s written approval prior to
maintaining any office or conducting any activity described in subsection (a) of this
section. The Commissioner may condition approval on the existing availability of the
activity in the State.
(c) Nothing in this section shall be deemed to permit a financial institution to solicit
or accept deposits, pay checks, or loan money within this State, unless it is otherwise
authorized to engage in such activity in this State.
(d) Notwithstanding section 14103 of this title, a financial institution authorized to engage in the activities permitted under this
section may use the words “bank,” “banking association,” “national association,” “financial
institution,” or “trust company” when engaged in the activities permitted under this
section. A financial institution that is authorized to engage in loan production in
this State, but not authorized to approve loans in this State, shall disclose in any
printed material and advertising that it is engaged in loan production. The organizational
name of such financial institution shall not be deceptively similar to any name in
use by an authorized financial institution doing business in this State. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2001, No. 73 (Adj. Sess.), § 5, eff. Feb. 2, 2002.)