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. § 19408)
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§ 19408. Petition denied; receiver to wind up affairs
If the petition is denied, the Commissioner shall apply for a receiver to wind up
the affairs of the financial institution, as provided in sections 19301 through 19315 of this title. In that case, the deposits, if any, received after petition filed and the resulting
assets shall be administered separately from the other assets and liabilities, and
those assets shall be distributed to the depositors by the receiver as soon as possible
after his or her appointment and without deduction on account of the expense of the
receivership except as provided in section 19407 of this title. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2021, No. 105 (Adj. Sess.), § 316, eff. July 1, 2022.)