Vt. Stat. Ann. tit. 8, § 31704
Purposes
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
A corporate credit union is a credit union whose members consist primarily of other credit unions and whose purposes are to:
A corporate credit union is a credit union whose members consist primarily of other credit unions and whose purposes are to:
(1) accumulate and prudently manage the liquidity of its member credit unions through interlending and investment services;
(1) accumulate and prudently manage the liquidity of its member credit unions through interlending and investment services;
(2) act as an intermediary for credit union funds between members and other corporate credit unions;
(2) act as an intermediary for credit union funds between members and other corporate credit unions;
(3) obtain liquid funds from other credit union organizations, financial intermediaries, and other sources;
(3) obtain liquid funds from other credit union organizations, financial intermediaries, and other sources;
(4) foster and promote in cooperation with other state, regional, and national corporate credit unions and credit union organizations or associations the economic security, growth, and development of member credit unions; and
(4) foster and promote in cooperation with other state, regional, and national corporate credit unions and credit union organizations or associations the economic security, growth, and development of member credit unions; and
(5) Perform such other financial services of benefit to its members that are authorized by the Commissioner. Added 2005, No. 16, § 1, eff. July 1, 2005.
(5) Perform such other financial services of benefit to its members that are 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.