Vermont § 2245 Pension loans

Vermont Statutes

§ 2245 — Pension loans

Vermont·Title 8 Title 8: Banking and Insurance·Ch. 73 Chapter 073: Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies

Any person who engages in the business of offering consideration in exchange for a secured interest in all or part of pension proceeds in the possession of a participant, beneficiary, or member of a pension plan, program, or system shall be deemed to be engaged in the business of making loans pursuant to subdivision 2201(a)(1) of this chapter and shall be subject to 9 V.S.A. chapters 4 and 63. (Added 2013, No. 109 (Adj. Sess.), § 2.)

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Any person who engages in the business of offering consideration in exchange for a secured interest in all or part of pension proceeds in the possession of a participant, beneficiary, or member of a pension plan, program, or system shall be deemed to be engaged in the business of making loans pursuant to subdivision 2201(a)(1) of this chapter and shall be subject to 9 V.S.A. chapters 4 and 63. (Added 2013, No. 109 (Adj. Sess.), § 2.)

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