2011 Vermont Code
Title 08 Banking and Insurance
Chapter 204 POWERS OF FINANCIAL INSTITUTIONS
§ 14208 Security for deposits
§ 14208. Security for deposits
No Vermont or state financial institution may pledge, hypothecate or deliver any of its assets of any description whatsoever as security for a deposit of private funds, or for the purpose of indemnifying any person, as surety for the financial institution, or as surety for any other person. However, a Vermont financial institution or state financial institution may so secure a deposit to the credit of the United States, of the state of Vermont or of any political subdivisions of the state, either directly or indirectly. (Added 1999, No. 153 (Adj. Sess.), { 2, eff. Jan. 1, 2001.)
Disclaimer: These codes may not be the most recent version. Vermont may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
