The Vermont Statutes Online

Title 8 : Banking and Insurance

Chapter 209 : Conservation, Liquidation, and Insolvency

Subchapter 002 : Financial Institution Conservators

• § 19210. Notice to depositors of termination of conservatorship

  In case the Commissioner, in the exercise of the Commissioner’s discretion, is satisfied that it would be in the public interest to terminate the conservatorship either with or without reorganization, before the conservator shall turn back the affairs of the Vermont financial institution to its governing body, the Commissioner shall cause to be published in a newspaper in the city, town, or county in which the financial institution is located, a notice in form approved by the Commissioner stating the date on which the affairs of the financial institution will be returned to its governing body. On the date of the publication of that notice, the conservator shall immediately send to every person who is a depositor in the financial institution a copy of that notice by mail, addressed to the last known address of that person as shown by the records of the financial institution, and the conservator shall send similar notice in like manner to every person making a deposit in that financial institution under section 19208 of this title after the date of that newspaper publication and before the time when the affairs of the financial institution are returned to its governing body. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)