Vermont § 2502 Relationship to federal law

Vermont Statutes

§ 2502 — Relationship to federal law

Vermont·Title 8 Title 8: Banking and Insurance·Ch. 79 Chapter 079: Money Services

(a)In the event state money transmission jurisdiction is conditioned on a federal law, any inconsistencies between a provision of this chapter and the federal law governing money transmission shall be governed by the applicable federal law to the extent of the inconsistency.

(b)In the event of any inconsistencies between this chapter and a federal law that governs pursuant to subsection (a) of this section, the Commissioner may provide interpretive guidance that:

(1)identifies the inconsistency; and

(2)identifies the appropriate means of compliance with federal law. (Added 2023, No. 110 (Adj. Sess.), § 39, eff. July 1, 2024.)

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(a) In the event state money transmission jurisdiction is conditioned on a federal law, any inconsistencies between a provision of this chapter and the federal law governing money transmission shall be governed by the applicable federal law to the extent of the inconsistency.
(b) In the event of any inconsistencies between this chapter and a federal law that governs pursuant to subsection (a) of this section, the Commissioner may provide interpretive guidance that:
(1) identifies the inconsistency; and
(2) identifies the appropriate means of compliance with federal law. (Added 2023, No. 110 (Adj. Sess.), § 39, eff. July 1, 2024.)

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