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.
(Cite as: 8 V.S.A. § 20101)
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§ 20101. Reorganization of a mutual or cooperative financial institution as a mutual holding
company
A Vermont mutual or cooperative financial institution may reorganize, under a plan
of reorganization adopted by the financial institution and submitted to and approved
by the Commissioner as provided in this chapter, as a mutual holding company owning
an investor-owned mutual holding company subsidiary financial institution in the following
manner:
(1) By taking or causing to be taken the following actions:
(A) organizing a mutual holding company subsidiary financial institution in accordance
with the procedures in section 20102 and chapter 202 of this title, the voting common
stock or other ownership interest of which will be owned by the mutual holding company
emerging from the reorganization, except otherwise permitted in section 20106 of this title;
(B) transferring to the mutual holding company subsidiary financial institution the substantial
part of its assets and liabilities, including all of its insured liabilities, in exchange
for voting common stock or other ownership interest of the mutual holding company
subsidiary financial institution; and
(C) adopting amended and restated organizational documents changing its name and conforming
its organization, governance, and powers to those prescribed for a mutual holding
company by section 20104 of this title; or
(2) Pursuant to any other form of restructuring approved by the Commissioner. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)