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Searching 2023-2024 Session

The Vermont Statutes Online

The Vermont Statutes Online have been updated to include the actions of the 2023 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 209 : Conservation, Liquidation, and Insolvency

Subchapter 001 : Applicability of Chapter; Payments Restrained to Preserve Assets or Protect Depositors

(Cite as: 8 V.S.A. § 19103)
  • § 19103. Business restricted

    During holidays and subject to the provisions of the proclamation, the Commissioner, in addition to all other powers conferred by law, may order any Vermont financial institution to restrict all or any part of its business, and to limit or postpone for any length of time the payment of any amount or proportion of the deposits in savings, commercial, or any other department of the institution, separate and distinct from the other, as the Commissioner may deem necessary or expedient and may regulate further payments as to time and amount, as the interest of the public or the financial institution or the depositors thereof may require. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2021, No. 105 (Adj. Sess.), § 305, eff. July 1, 2022.)