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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
§
19105. Orders as to deposits and debts due financial institution
During those
holidays and so long thereafter as the Governor approves, the Commissioner may
issue such orders as to the receipt and payment of deposits by, and the
creation and discharge of debts and obligations to or from a Vermont financial
institution under the Commissioner's supervision, as the Commissioner may deem
necessary for the protection and preservation of the public safety and
convenience or the equal protection of those Vermont financial institution's
depositors in view of then existing banking, business, or other pertinent
conditions. Those orders may apply to any Vermont financial institution, as may
be necessary for those purposes; and the orders may restrict or regulate all
business or any part of the business of a financial institution affected
thereby, including the time or manner or medium of payment, or limitations on
the amount or percentages of payment of deposits or of debts or obligations, or
the investment or the loaning of money, or the approval and acceptance of
security for new loans. The orders may classify financial institutions or
departments thereof or deposits or assets and liabilities and may vary with the
different classes, as may be required for fulfilling the purposes of this
section and sections 19102 through 19104 of this title. (Added 1999, No. 153
(Adj. Sess.), § 2, eff. Jan. 1, 2001.)