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2011 Vermont Code
Title 08 Banking and Insurance
Chapter 77 INDEPENDENT TRUST COMPANIES
§ 2404 Name; multiple locations

Universal Citation:
8 VT Stats § 2404. (2011 through Adj Sess)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

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TITLE 8

Banking and Insurance

PART II

Banks and Other Financial Institutions

CHAPTER 77. INDEPENDENT TRUST COMPANIES

§ 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 2403(c) 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.)

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