2005 Vermont Code - § 2404. — Name; multiple locations

§ 2404. Name; multiple locations

(a) An independent trust company shall file any name proposed to be used in connection with a trust business or establishing a principal office or trust office in this state pursuant to this chapter. The commissioner shall not approve a proposed name if the commissioner determines that the name may be misleading or likely to confuse the public, or deceptively similar to any name in use in this state.

(b) An independent trust company organized or regulated under this chapter may petition the commissioner for permission to establish and maintain new or additional offices for the transaction of its trust business.

(c) An independent trust company shall not operate any new or additional office unless the commissioner has determined that the establishment of the office will promote the general good of the state, applying the standards and procedures contained in subsection (c) of section 2403 of this chapter, as applicable. If the commissioner determines that the establishment will promote the general good, the commissioner shall approve the new or additional office. (Added 1997, No. 98 (Adj. Sess.), § 8b.)