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
003
:
RECEIVERSHIP AND DISSOLUTION
(Cite as: 8 V.S.A. § 19301)
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§ 19301. Application for receiver; petition to divide losses
If the Commissioner ascertains that a Vermont financial institution is insolvent or
that it is unsafe for it to continue to transact business, the Commissioner shall
apply to the Superior Court of Washington County for the appointment of a receiver
unless, in case of a mutual or cooperative financial institution, the Commissioner
deems it advisable to join with the governing body in a petition to divide the losses
among the depositors as provided in this subchapter. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2021, No. 105 (Adj. Sess.), § 309, eff. July 1, 2022.)