2011 Vermont Code
Title 08 Banking and Insurance
Chapter 220 SUPERVISION AND REGULATION
§ 30603 Examinations by federal regulatory agencies; departmental participation
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TITLE 8
Banking and Insurance
PART VI
Credit Unions
CHAPTER 220. SUPERVISION AND REGULATION
Subchapter VI. Examinations
§ 30603. Examinations by federal regulatory agencies; departmental participation
Where an examination is normally conducted by the department jointly with a federal regulatory authority, the commissioner, at such times as the commissioner deems necessary or appropriate because of departmental fiscal restraints, may reduce or eliminate the department's participation in such examination. Where the commissioner determines such reductions are necessary or appropriate, the commissioner is authorized to rely on the examination report of the federal regulatory authority as the basis for exercising his or her powers and discharging his or her responsibilities under this title. (Added 2005, No. 16, { 1, eff. July 1, 2005.)
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