§ 32707. Bond
Each credit union service organization and each of its directors, officers, managers, general partners, employees, and authorized agent of a CUSO who has charge or possession of the funds, securities, or other assets of such CUSO shall be bonded by a surety company authorized to do business in this State. Such bond shall be in favor of the CUSO and in such amount as is approved by the governing body of the CUSO. The Commissioner may require the amount of the bond to be increased. A copy of each bond and any renewal thereof shall be promptly filed with the Commissioner. (Added 2005, No. 16, § 1, eff. July 1, 2005.)
Structure Vermont Statutes
Title 8 - Banking and Insurance
§ 32101. Applicability of chapter
§ 32103. Expanded powers of Vermont credit unions
§ 32202. Payment of deposits to administrators from another state or country
§ 32203. Trust deposits; payment on death of trustee
§ 32205. Payable on death accounts
§ 32206. Deposits of minors; exemption from trustee process
§ 32207. Provisions when title to deposit is litigated
§ 32208. Real estate trust and escrow
§ 32209. Claims not clearly consistent
§ 32211. Applicability of other laws
§ 32402. Commissioner approval
§ 32601. Failure to pay rent; removal of contents
§ 32701. Organization of a credit union service organization
§ 32702. Expansion of services
§ 32703. Records, reports, and examination
§ 32704. Limitation on loans to and investments in a CUSO
§ 32705. Investing in, lending to, or joining an existing CUSO