There Is a Newer Version of the Vermont Statutes
  1. 2025 Vermont Stat.
  2. 2024 Vermont Stat.
  3. 2023 Vermont Stat.
  4. 2011 Vermont Stat. (here)
  5. View All Versions
View Our Newest Version Here

2011 Vermont Code
Title 08 Banking and Insurance
Chapter 77 INDEPENDENT TRUST COMPANIES
§ 2411 Unsafe condition; receivership


8 VT Stats § 2411. (2011 through Adj Sess) What's This?

§ 2411. Unsafe condition; receivership

If the commissioner finds a deficiency in capital or other unsafe or unsound condition of an independent trust company has not been remedied within the time prescribed under an order of the commissioner issued pursuant to this chapter, the commissioner may apply to the superior court in Washington County, to be appointed receiver for the liquidation or rehabilitation of the company. The expense of the receivership shall be paid out of the assets of the independent trust company. The provisions of subchapters 2, 3 and 4 of chapter 209 of this title shall apply to an independent trust company formed or regulated under this chapter as if the independent trust company were a financial institution to the extent applicable. (Added 1997, No. 98 (Adj. Sess.), { 8b; amended 1999, No. 153 (Adj. Sess.), { 22, eff. Jan. 1, 2001.)

Disclaimer: These codes may not be the most recent version. Vermont may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.