Vt. Stat. Ann. tit. 8, § 12401
Limitation; form
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
(1) A Vermont financial institution may not authorize dividends, distributions, or withdrawals that reduce capital below the higher of the amount required under the certificate of general good or section 14104 of this title without the prior approval of the Commissioner.
(1) A Vermont financial institution may not authorize dividends, distributions, or withdrawals that reduce capital below the higher of the amount required under the certificate of general good or section 14104 of this title without the prior approval of the Commissioner.
(2) Dividends, distributions, and withdrawals shall be in cash or as otherwise authorized by the Commissioner. Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.
(2) Dividends, distributions, and withdrawals shall be in cash or as otherwise authorized by the Commissioner.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.