The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 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.
Title 8 : Banking and Insurance
Chapter 221 : Organization and Management of Credit Union
Subchapter 007 : Corporate Credit Unions
(Cite as: 8 V.S.A. § 31701)-
§ 31701. General application
(a) Any corporate credit union chartered by the Commissioner shall be subject to such rules and orders as the Commissioner deems appropriate and, except as otherwise specifically provided in such rules or orders, shall be vested with or subject to the same rights, privileges, duties, restrictions, penalties, liabilities, conditions, and limitations that would apply to all Vermont state-chartered credit unions.
(b) A corporate credit union shall be federally insured by the National Credit Union Administration (NCUA), or its successor, and shall be subject to such regulations and orders as the NCUA or its successor deems appropriate. In the event State laws or rules are inconsistent with the regulations of the NCUA or its successor, the federal regulations will supersede. (Added 2005, No. 16, § 1, eff. July 1, 2005; amended 2021, No. 105 (Adj. Sess.), § 330, eff. July 1, 2022.)
