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The Vermont Statutes Online
Title
08
:
Banking and Insurance
Chapter
209
:
CONSERVATION, LIQUIDATION, AND INSOLVENCY
Subchapter
002
:
FINANCIAL INSTITUTION CONSERVATORS
§
19207. Withdrawals
While the
financial institution is in the hands of the conservator appointed by the
Commissioner, the Commissioner may require the conservator to set aside and
make available for withdrawal by depositors and payment to other creditors, on
a rateable basis, such amounts as in the opinion of the Commissioner may safely
be used for this purpose. The conservator may borrow money on the assets of the
financial institution to provide funds therefor. (Added 1999, No. 153 (Adj.
Sess.), § 2, eff. Jan. 1, 2001.)