Vermont § 934 Bank deposits left with bank

Vermont Statutes

§ 934 — Bank deposits left with bank

Vermont § 934

Title 11Title 11: Corporations, Partnerships and Associations

Ch. 5Chapter 005: Scrip Corporations

This text of Vermont § 934 (Bank deposits left with bank) 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. 11, § 934 (2026).

Text

Bank deposits assigned under the provisions of this chapter in consideration and as security for scrip, except as otherwise directed by the Commissioner, shall remain on deposit in the same bank where originally deposited, but with the Commissioner’s consent, may be transferred to deposits classified as new savings deposits. Whenever deposits which bear no interest are assigned to such scrip corporation, they may be withdrawn under rules and regulations prescribed by the Commissioner, and placed at interest, unless such corporation and such depository with the consent of the Commissioner enter into an agreement for the payment of interest thereon.

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Bank deposits assigned under the provisions of this chapter in consideration and as security for scrip, except as otherwise directed by the Commissioner, shall remain on deposit in the same bank where originally deposited, but with the Commissioner’s consent, may be transferred to deposits classified as new savings deposits. Whenever deposits which bear no interest are assigned to such scrip corporation, they may be withdrawn under rules and regulations prescribed by the Commissioner, and placed at interest, unless such corporation and such depository with the consent of the Commissioner enter into an agreement for the payment of interest thereon.