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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.)