§ 14403. Approval of Commissioner
No financial institution not otherwise expressly authorized by its respective supervisory agency under state or federal law may exercise the powers provided in this subchapter until it has applied for and obtained approval of the Commissioner to do so under subsection 11701(b) of this title. The Commissioner shall conduct inquiry into the affairs of the financial institution applying for those powers to determine if the financial institution is staffed, equipped, and able to furnish those services. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2005, No. 36, § 5, eff. June 1, 2005.)
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