The Vermont Statutes Online
Banking and Insurance
BANK PRODUCTS; PROHIBITIONS
10502. Definitions relating to basic banking
As used in
sections 10501 through 10504 of this title, the following terms shall have the
checking account" means a deposit account on which the consumer is
permitted to make payments or transfers by check, money order, or other
negotiable instruments and which is maintained by such person for personal,
family, or household purposes.
savings account" means a savings account or statement savings which is
maintained by such person for personal, family, or household purposes.
"Consumer" means a natural person. (Added 1999, No. 153 (Adj. Sess.),
§ 2, eff. Jan. 1, 2001.)