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
:
APPLICABILITY OF CHAPTER; PAYMENTS RESTRAINED TO PRESERVE ASSETS OR PROTECT DEPOSITORS
(Cite as: 8 V.S.A. § 19105)
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§ 19105. Orders as to deposits and debts due financial institution
During those holidays and so long thereafter as the Governor approves, the Commissioner
may issue such orders as to the receipt and payment of deposits by and the creation
and discharge of debts and obligations to or from a Vermont financial institution
under the Commissioner’s supervision as the Commissioner may deem necessary for the
protection and preservation of the public safety and convenience or the equal protection
of those Vermont financial institution’s depositors in view of then existing banking,
business, or other pertinent conditions. Those orders may apply to any Vermont financial
institution as may be necessary for those purposes, and the orders may restrict or
regulate all business or any part of the business of a financial institution affected
thereby, including the time or manner or medium of payment, or limitations on the
amount or percentages of payment of deposits or of debts or obligations, or the investment
or the loaning of money, or the approval and acceptance of security for new loans.
The orders may classify financial institutions or departments thereof or deposits
or assets and liabilities and may vary with the different classes as may be required
for fulfilling the purposes of this section and sections 19102 through 19104 of this title. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)