2011 Vermont Code
Title 08 Banking and Insurance
Chapter 209 CONSERVATION, LIQUIDATION AND INSOLVENCY
§ 19406 Orders under which financial institution may continue business
§ 19406. Orders under which financial institution may continue business
Those orders shall provide that deposits received after the petition is filed and before the final decree shall be kept in cash or invested in such liquid securities as the commissioner shall approve and segregated from the prior assets of the financial institution and shall constitute a fund for the repayment in full of deposits made after the filing of the petition. Those orders shall further provide that no withdrawal of prior deposits may be permitted except on such notice and to such specified amounts and in such specified percentage as the commissioner determines clearly will not result in a preference. (Added 1999, No. 153 (Adj. Sess.), { 2, eff. Jan. 1, 2001.)
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