§ 4593. Prohibited acts
Under this chapter, a bank may not:
(1) make loans of money to any person, firm, or corporation other than a government or a governmental agency or subdivision, or purchase securities issued by any person, firm, or corporation other than a governmental unit or for investment except as provided in this chapter;
(2) emit bills of credit, or accept deposits of money for time or demand deposit, or administer trust, or engage in any form or manner in, or in the conduct of, any private or commercial banking business, or act as a savings bank or savings and loan association;
(3) be or constitute a bank or trust company within the jurisdiction or under the control of the Department of Financial Regulation of the State, or the Commissioner thereof, or the Comptroller of the Currency of the United States of America or the Department of the Treasury thereof; or
(4) be or constitute a bank, banker, or dealer in securities within the meaning of or subject to the provisions of any securities, securities exchange, or securities dealers law, of the United States of America or of this State or of any other state. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970; amended 1989, No. 225 (Adj. Sess.), § 25; 1995, No. 180 (Adj. Sess.), § 38.)
Structure Vermont Statutes
Title 24 - Municipal and County Government
Chapter 119 - Municipal Bond Bank
§ 4554. Administration expenses
§ 4555. Duties of State Treasurer
§ 4556. Cooperation by government agencies; cost
§ 4573. Removal from office; oath
§ 4576. Compensation; expenses
§ 4596. Care and custody of bonds
§ 4621. Form of obligation; faith and credit
§ 4622. Negotiability of bonds or notes
§ 4623. Bonds or notes as legal investment
§ 4641. Loans to governmental units
§ 4642. Amount and purpose; general obligation
§ 4645. Administrative consent or conditions not required
§ 4646. Approval of Governor and Treasurer
§ 4647. Payment or refunding of notes
§ 4648. Terms of agreement with bond or noteholder
§ 4649. Purchase and disposition of own obligations
§ 4651. Exchange of coupon bonds
§ 4652. Waiver of defenses; rights of holder
§ 4653. Bond anticipation notes
§ 4654. Marketability; certification
§ 4655. Presumption of validity
§ 4672. Withdrawal or transfer
§ 4674. Relation to bond sales
§ 4680. Application of funds; excess
§ 4681. Revenue Bond Reserve Fund
§ 4682. Investment of Revenue Bond Reserve Fund
§ 4684. Revenue Fund operating expenses
§ 4685. Special accounts in Revenue Fund
§ 4701. Rights of holders paramount
§ 4703. Powers of trustee on default
§ 4704. Superior Court jurisdiction
§ 4707. Exemption from execution and sale
§ 4708. Pledge of revenues; lien thereof