The Vermont Statutes Online
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
NOTE: The online version of the Vermont Statutes does NOT yet include the actions of the 2023 legislative session. The 2023 updates should be available by the end of October.
Subchapter 001 : INTEREST GENERALLY(Cite as: 9 V.S.A. § 43)
§ 43. Deposit requirement prohibited; exception
A lender shall not, as a condition to granting or extending a loan, require a borrower to keep or place any sum on deposit with the lender or nominee of the lender, except for deposit arrangements directly related to secured credit cards in a manner consistent with rules adopted by the Commissioner, rules that shall include disclosure requirements, and specific types of alternative mortgages approved by the Commissioner as provided in 8 V.S.A. § 1256. (Added 1967, No. 377 (Adj. Sess.), eff. March 26, 1968; amended 1977, No. 184 (Adj. Sess.), § 2; 1995, No. 9, § 3.)