Vermont § 14108 Prohibited mergers and acquisitions

Vermont Statutes

§ 14108 — Prohibited mergers and acquisitions

Vermont § 14108

Title 8Title 8: Banking and Insurance

Ch. 204Chapter 204: Powers of Financial Institutions

This text of Vermont § 14108 (Prohibited mergers and acquisitions) 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, § 14108 (2026).

Text

(a)No depository institution may by merger, consolidation, or other form of acquisition come to hold in excess of 30 percent of the total time and demand deposits held in Vermont by depository institutions. For the purposes of this section, the total deposits of a depository institution shall consist of all time and demand deposits held in Vermont by such depository institution and all of its affiliates.

(b)Notwithstanding subsection (a) of this section, the Commissioner may waive the deposit concentration limit set forth in subsection (a) of this section if the Commissioner determines that any financial institution to be merged, consolidated, or acquired is not adequately capitalized, or is subject to a conservation, receivership, or dissolution order under this title or applicable fede

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(a) No depository institution may by merger, consolidation, or other form of acquisition come to hold in excess of 30 percent of the total time and demand deposits held in Vermont by depository institutions. For the purposes of this section, the total deposits of a depository institution shall consist of all time and demand deposits held in Vermont by such depository institution and all of its affiliates.
(b) Notwithstanding subsection (a) of this section, the Commissioner may waive the deposit concentration limit set forth in subsection (a) of this section if the Commissioner determines that any financial institution to be merged, consolidated, or acquired is not adequately capitalized, or is subject to a conservation, receivership, or dissolution order under this title or applicable federal law, and the waiver is otherwise in the best interests of depositors. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2021, No. 105 (Adj. Sess.), § 293, eff. July 1, 2022.)