Vermont § 14104 Capital or surplus requirements

Vermont Statutes

§ 14104 — Capital or surplus requirements

Vermont § 14104

Title 8Title 8: Banking and Insurance

Ch. 204Chapter 204: Powers of Financial Institutions

This text of Vermont § 14104 (Capital or surplus requirements) is published on Counsel Stack Legal Research, covering Vermont primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Vt. Stat. Ann. tit. 8, § 14104 (2026).

Text

(a)Every Vermont financial institution shall establish and maintain adequate levels of capital or surplus pursuant to standards established by the Commissioner.

(b)Any issuance considered as capital under subsection (a) of this section shall be submitted to the Commissioner for review and approval at least 10 days prior to issuance and include such documentation as the Commissioner deems necessary.

(c)Notwithstanding the provisions of subsections (a) and (b) of this section, the Commissioner may permit the formation of a Vermont financial institution without capital or surplus to be merged with or into or consolidated with an existing financial institution for the purpose of facilitating a reorganization or acquisition transaction, including a triangular merger transaction, involving su

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(a) Every Vermont financial institution shall establish and maintain adequate levels of capital or surplus pursuant to standards established by the Commissioner.
(b) Any issuance considered as capital under subsection (a) of this section shall be submitted to the Commissioner for review and approval at least 10 days prior to issuance and include such documentation as the Commissioner deems necessary.
(c) Notwithstanding the provisions of subsections (a) and (b) of this section, the Commissioner may permit the formation of a Vermont financial institution without capital or surplus to be merged with or into or consolidated with an existing financial institution for the purpose of facilitating a reorganization or acquisition transaction, including a triangular merger transaction, involving such existing financial institution. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)