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The Vermont Statutes Online
Title
08
:
Banking and Insurance
Chapter
220
:
SUPERVISION AND REGULATION
Subchapter
006
:
EXAMINATIONS
§
30603. Examinations by federal regulatory agencies; departmental participation
Where an
examination is normally conducted by the Department jointly with a federal
regulatory authority, the Commissioner, at such times as the Commissioner deems
necessary or appropriate because of departmental fiscal restraints, may reduce
or eliminate the department's participation in such examination. Where the
Commissioner determines such reductions are necessary or appropriate, the
Commissioner is authorized to rely on the examination report of the federal
regulatory authority as the basis for exercising his or her powers and
discharging his or her responsibilities under this title. (Added 2005, No. 16, §
1, eff. July 1, 2005.)