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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

209

:
CONSERVATION, LIQUIDATION, AND INSOLVENCY






Subchapter

003
:
RECEIVERSHIP AND DISSOLUTION










 

§

19302. Appointment of receiver; notice and hearing

The Court shall

thereupon issue a notice to the treasurer and executive officer of such Vermont

financial institution to appear at a time and place therein named and show

cause why a receiver should not be appointed. If sufficient cause is not shown,

the Court shall appoint a receiver to take charge of the property and effects

of the financial institution, who shall be subject to the Superior Court.

(Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)