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.
Subchapter
003
:
POWERS AND PROHIBITIONS
(Cite as: 24 V.S.A. § 4593)
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§ 4593. Prohibited acts
Under this chapter, a bank may not:
(1) make loans of money to any person, firm, or corporation other than a government or
a governmental agency or subdivision, or purchase securities issued by any person,
firm, or corporation other than a governmental unit or for investment except as provided
in this chapter;
(2) emit bills of credit, or accept deposits of money for time or demand deposit, or administer
trust, or engage in any form or manner in, or in the conduct of, any private or commercial
banking business, or act as a savings bank or savings and loan association;
(3) be or constitute a bank or trust company within the jurisdiction or under the control
of the Department of Financial Regulation of the State, or the Commissioner thereof,
or the Comptroller of the Currency of the United States of America or the Department
of the Treasury thereof; or
(4) be or constitute a bank, banker, or dealer in securities within the meaning of or
subject to the provisions of any securities, securities exchange, or securities dealers
law, of the United States of America or of this State or of any other state. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970; amended 1989, No. 225 (Adj. Sess.), § 25; 1995, No. 180 (Adj. Sess.), § 38.)