If an emergency arises or is so imminent and immediate as to interfere with or threaten the conduct of normal business transactions or the safety and welfare of a credit union’s plant, assets, or personnel, the credit union officer or official in charge of any office open to the public may determine not to open the office so threatened or close the same, if open. The credit union shall notify the Commissioner of the emergency closing as soon as reasonably possible.
Vt. Stat. Ann. tit. 8, § 30303
Emergency closing by credit union
Added 2005, No. 16, § 1, eff
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.