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2025 Vermont Statutes
Title 8 - Banking and Insurance
Chapter 202 - Organization and Management of Investor-Owned Financial Institutions
§ 12401. Limitation; form
Universal Citation:
8 VT Stats § 12401
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§ 12401. Limitation; form
(a) A Vermont financial institution may not authorize dividends, distributions, or withdrawals that reduce capital below the higher of the amount required under the certificate of general good or section 14104 of this title without the prior approval of the Commissioner.
(b) Dividends, distributions, and withdrawals shall be in cash or as otherwise authorized by the Commissioner. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
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