§ 14208. Security for deposits
No Vermont or state financial institution may pledge, hypothecate, or deliver any of its assets of any description whatsoever as security for a deposit of private funds, or for the purpose of indemnifying any person, as surety for the financial institution, or as surety for any other person. However, a Vermont financial institution or state financial institution may so secure a deposit to the credit of the United States, of the State of Vermont, or of any political subdivisions of the State, either directly or indirectly. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
Structure Vermont Statutes
Title 8 - Banking and Insurance
Chapter 204 - Powers of Financial Institutions
§ 14101. Applicability of chapter
§ 14102. General organizational powers
§ 14103. Advertising; doing business or using name unlawfully
§ 14104. Capital or surplus requirements
§ 14105. Participation in public agencies
§ 14106. Expanded powers of Vermont financial institutions
§ 14108. Prohibited mergers and acquisitions
§ 14109. Prohibited management interlocks
§ 14202. Payment of deposits to administrators from another state or country
§ 14203. Trust deposits; payment on death of trustee
§ 14205. Payable on death accounts
§ 14206. Deposits of minors; exemption from trustee process
§ 14207. Provisions when title to deposit is litigated
§ 14208. Security for deposits
§ 14209. Examination of accounts
§ 14210. Real estate trust and escrow
§ 14211. Claims not clearly consistent
§ 14212. Joint fiduciary accounts
§ 14304. Card holder represented by legal counsel
§ 14401. Types of trust functions
§ 14402. National financial institutions; state financial institutions
§ 14403. Approval of Commissioner
§ 14405. Powers and duties of officers
§ 14406. Segregation of trust funds; exception
§ 14407. Collective investment funds
§ 14408. Registration and sale of securities
§ 14409. Disposition of securities upon court order; liability for acts of nominee