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Searching 2019-2020 Session

The Vermont Statutes Online

The statutes were updated in November, 2018, and contain all actions of the
2018 legislative session.

Title 8 : Banking and Insurance

Chapter 209 : CONSERVATION, LIQUIDATION, AND INSOLVENCY

Subchapter 002 : FINANCIAL INSTITUTION CONSERVATORS

(Cite as: 8 V.S.A. § 19207)
  • § 19207. Withdrawals

    While the financial institution is in the hands of the conservator appointed by the Commissioner, the Commissioner may require the conservator to set aside and make available for withdrawal by depositors and payment to other creditors, on a rateable basis, such amounts as in the opinion of the Commissioner may safely be used for this purpose. The conservator may borrow money on the assets of the financial institution to provide funds therefor. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)