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
004
:
REORGANIZATION OR ESTABLISHMENT OF NEW FINANCIAL INSTITUTION
(Cite as: 8 V.S.A. § 19406)
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§ 19406. Orders under which financial institution may continue business
Those orders shall provide that deposits received after the petition is filed and
before the final decree shall be kept in cash or invested in such liquid securities
as the Commissioner shall approve and segregated from the prior assets of the financial
institution and shall constitute a fund for the repayment in full of deposits made
after the filing of the petition. Those orders shall further provide that no withdrawal
of prior deposits may be permitted except on such notice and to such specified amounts
and in such specified percentage as the Commissioner determines clearly will not result
in a preference. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)