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The Vermont Statutes Online
Title
08
:
Banking and Insurance
Chapter
209
:
CONSERVATION, LIQUIDATION, AND INSOLVENCY
Subchapter
001
:
APPLICABILITY OF CHAPTER; PAYMENTS RESTRAINED TO PRESERVE ASSETS OR PROTECT DEPOSITORS
§
19106. Withdrawals, rateable share of depositor's interest
While
restrictions are in force on the withdrawal of the deposits in a Vermont mutual
or cooperative financial institution, except those imposed by the financial
institution under the provisions of its internal governance documents,
withdrawals shall be counted as a part of the rateable share of the withdrawing
depositor's interest in the assets of a mutual or cooperative financial
institution to which he or she was entitled at the time the restrictions were
imposed if final liquidation of the financial institution takes place before
all those restrictions are removed. (Added 1999, No. 153 (Adj. Sess.), § 2,
eff. Jan. 1, 2001.)