Vermont Statutes
Chapter 221 - Organization and Management of Credit Union
§ 31104. Submission to Secretary of State

§ 31104. Submission to Secretary of State
Following the meeting required under subdivision 31103(e)(1) of this title and approval of the organizational documents by the Commissioner under subdivision 31103(e)(4) of this title, the directors so elected shall submit to the Secretary of State an attested copy of the credit union’s organizational documents as required by Title 11B. The Secretary of State shall determine whether such organizational documents satisfy the requirements of Title 11B. If such requirements are met, the Secretary of State shall file the organizational documents according to the provisions of law. The filing of the organizational documents by the Secretary of State shall not authorize the transaction of business by the credit union until all conditions of this subchapter are satisfied. (Added 2005, No. 16, § 1, eff. July 1, 2005.)

Structure Vermont Statutes

Vermont Statutes

Title 8 - Banking and Insurance

Chapter 221 - Organization and Management of Credit Union

§ 31101. Application to organize

§ 31102. Issuance of certificate of approval; refusal to issue certificate of approval

§ 31103. Requirements to commence business; minimum initial share deposits; certificate of authority

§ 31104. Submission to Secretary of State

§ 31105. Payment of share deposits

§ 31106. Certificate to commence business; insurance; bond

§ 31107. Failure to commence business

§ 31108. Amendment to articles of incorporation

§ 31201. Bylaws; amendment of bylaws

§ 31202. Credit union name

§ 31301. Number and election of directors

§ 31302. Duties of governing body

§ 31303. Executive committee

§ 31304. Meetings of governing body

§ 31305. Officers

§ 31306. Supervisory committee

§ 31307. Credit committee; credit manager

§ 31308. Duties of officers, directors, and committee members

§ 31309. Oaths of office; certificate of election

§ 31310. Prohibited management interlocks

§ 31311. Suspension and removal

§ 31312. Vacancies

§ 31313. Conflict of interest

§ 31314. Compensation; insurance; expenses

§ 31401. Field of membership

§ 31402. Membership application

§ 31403. Liability of members

§ 31404. Membership termination

§ 31405. Suspension of services

§ 31406. Meetings of members

§ 31407. Special membership meetings

§ 31408. Notice to members of annual and special meeting

§ 31501. Net worth

§ 31502. Regular reserve account

§ 31503. Allowance for loan and lease loss

§ 31504. Unrealized gain or loss on available for sale securities

§ 31505. Additional or special reserves

§ 31506. Dividends to shareholders; conditions precedent

§ 31507. Standards

§ 31601. Share insurance

§ 31602. Bonds and insurance

§ 31701. General application

§ 31702. Organization

§ 31703. Membership

§ 31704. Purposes

§ 31705. Powers

§ 31706. Reserves