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 11 : Corporations, Partnerships and Associations
Chapter 005 : Scrip Corporations
(Cite as: 11 V.S.A. § 934)-
§ 934. Bank deposits left with bank
Bank deposits assigned under the provisions of this chapter in consideration and as security for scrip, except as otherwise directed by the Commissioner, shall remain on deposit in the same bank where originally deposited, but with the Commissioner’s consent, may be transferred to deposits classified as new savings deposits. Whenever deposits which bear no interest are assigned to such scrip corporation, they may be withdrawn under rules and regulations prescribed by the Commissioner, and placed at interest, unless such corporation and such depository with the consent of the Commissioner enter into an agreement for the payment of interest thereon.
