§ 19207. Withdrawals
While the financial institution is in the hands of the conservator appointed by the Commissioner, the Commissioner may require the conservator to set aside and make available for withdrawal by depositors and payment to other creditors, on a rateable basis, such amounts as in the opinion of the Commissioner may safely be used for this purpose. The conservator may borrow money on the assets of the financial institution to provide funds for the purposes specified in this section. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2021, No. 105 (Adj. Sess.), § 308, eff. July 1, 2022.)
Structure Vermont Statutes
Title 8 - Banking and Insurance
Chapter 209 - Conservation, Liquidation, and Insolvency
§ 19102. Governor’s proclamation
§ 19104. Restrictions continued after holidays
§ 19105. Orders as to deposits and debts due financial institution
§ 19106. Withdrawals, rateable share of depositor’s interest
§ 19107. Publication of orders
§ 19109. New commercial or savings deposits authorized; withdrawals
§ 19201. Appointment and bonding of conservators
§ 19202. Conservation of assets
§ 19203. Powers of conservator
§ 19204. Rights of interested parties
§ 19205. Fiduciary powers; appointment of new trustee for trust accounts
§ 19209. Termination of conservatorship
§ 19210. Notice to depositors of termination of conservatorship
§ 19301. Application for receiver; petition to divide losses
§ 19302. Appointment of receiver; notice and hearing
§ 19304. Commissioner as receiver
§ 19305. Duties and rights of receiver
§ 19306. Federal deposit insurance corporation
§ 19309. Limitation on time for proving claims
§ 19310. Submission of disallowed claims to Superior judge
§ 19311. Order to discontinue unauthorized practices
§ 19312. Failure to comply with Commissioner’s order
§ 19313. Authority of Court to enforce Commissioner’s order
§ 19314. Accounting and report of receiver
§ 19401. Plan for reopening or establishment of new financial institution
§ 19402. Petitioning Court for hearing; notice; hearing; approval of plan
§ 19403. Depositor’s objection to plan; receivership continued
§ 19404. Deposits of public money
§ 19405. Deposits not paid or received; business continued
§ 19406. Orders under which financial institution may continue business
§ 19407. Expenses; deposits received after petition filed