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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

221

:
ORGANIZATION AND MANAGEMENT OF CREDIT UNION






Subchapter

001
:
ORGANIZATION AND COMMENCING BUSINESS










 

§

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.)