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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 8 : Banking and Insurance

Chapter 209 : CONSERVATION, LIQUIDATION, AND INSOLVENCY

Subchapter 004 : Reorganization or Establishment of New Financial Institution

(Cite as: 8 V.S.A. § 19405)
  • § 19405. Deposits not paid or received; business continued

    When a proceeding has been brought under section 19401 of this title, a deposit shall not be paid or received by that financial institution after the filing of the petition until the final decree of the Superior judge or, unless the Commissioner, in his or her discretion, and under such orders as the Commissioner may prescribe and from time to time alter and amend, permits the financial institution to continue in business pending final decree. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)