2005 Vermont Code - § 2067. — Reports

§ 2067. Reports

Credit unions organized under this chapter shall report to the department of banking, insurance, securities, and health care administration annually on or before the fifteenth day of February on forms supplied by it for that purpose. Such credit unions shall not be required to make any annual report except as provided in this chapter. Reports shall be verified by the oath of the majority of the supervisory committee, or by the oath of the president and treasurer or secretary. Additional reports may be required. If any report remains in arrears for more than fifteen days, a fine of $5.00 for each day the report remains in arrears may be levied against the offending credit union. If the report is not returned within thirty days of the due date, the department of banking, insurance, securities, and health care administration may, after written notice to the president of the credit union of its intention to do so, suspend or revoke the certificate of approval, take possession of the business and property of the credit union, and order its liquidation in accordance with section 2082 of this title. (Added 1967, No. 312 (Adj. Sess.), § 1, eff. March 22, 1968; amended 1983, No. 227 (Adj. Sess.), § 7; 1989, No. 225 (Adj. Sess.), § 25(a); 1995, No. 180 (Adj. Sess.), § 38(a).)