The Vermont Statutes Online
Banking and Insurance
OFFICES, OUT-OF-STATE OFFICES, AND OFFICES OF STATE CREDIT UNIONS
33104. Supervisory agreements; costs of examinations
implementing this chapter, the Commissioner may cooperate with credit union
regulators in other states or jurisdictions and may share with the regulators
the information received by the Commissioner to the extent necessary to
supervise and regulate the credit union.
Commissioner may enter into supervisory agreements with a state credit union
and its regulators to prescribe the applicable laws governing the powers and
authorities of Vermont offices of the state credit union.
agreements may address, but are not limited to, corporate governance and
operational matters. The agreements may resolve any conflict of laws and
specify the manner in which the examination, supervision, and application
processes must be coordinated with the regulators.
Commissioner may adopt rules for the periodic examination and investigation of
the affairs of a state credit union operating in this State. The costs of
examination and supervision must be fully borne by the state credit union.
(Added 2005, No. 16, § 1, eff. July 1, 2005.)