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: 11 V.S.A. § 932)
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§ 932. Indebtedness pledged to secure scrip
All evidences of indebtedness pledged to secure scrip shall be delivered and held
by the corporation issuing such scrip in trust to secure the redemption thereof in
legal tender. All bank deposits securing scrip shall be assigned to such issuing
corporation and by it held in trust as herein provided, but the interest and income
on such pledged securities and on one-third of such assigned bank deposits may be
used to defray the expenses of such corporation and to create a reserve and surplus
for future expenses and redemption of scrip.