Vermont Code — 08
Browse 1,629 sections in division 08 of the Vermont code. Each section page includes the full statutory text, official source links, and citation guidance.
Sections (showing up to 300)
- § 1. §§ 1-5.
- § 6. Repealed. 1979, No. 85 (Adj
- § 10. Declaration of policy It is declared to be the policy of the State of Vermont that:
- § 11. Department
- § 12. Commissioner The Department shall be administered by a Commissioner of Financial Regulation who shall be appointed by the Governor biennially, in the month of February, with the advice and consent of the Senate
- § 13. Powers and penalties
- § 14. Repealed. 2009, No. 33, § 83(d).
- § 15. Rules, orders, and administrative interpretations
- § 15a. Repealed. (Added 2019, No. 57, § 1; amended 2021, No. 25, § 17, eff
- § 16. Judicial review Any person aggrieved and directly affected by an order of the Commissioner may appeal to the Supreme Court of Vermont, except as otherwise expressly provided in this title or in 9 V.S.A. chapters 131 and 150
- § 17. Liability for acts
- § 18. Charges for examinations, applications, reviews, and investigations
- § 19. Fees and departmental expenses
- § 20. Uniform Commercial Code
- § 21. Applicability of laws governing business organizations Depending on the permitted type of organizational form, the
- § 22. Confidentiality and information-sharing agreements
- § 23. Confidentiality of investigation and examination reports
- § 24. Senior investor protection
- § 71. §§ 71-79.
- § 80. Insurance Regulatory and Supervision Fund
- § 501. §§ 501-510.
- § 521. §§ 521-526.
- § 551. §§ 551-703.
- § 801. §§ 801-1025.
- § 1051. §§ 1051-1064.
- § 1101. §§ 1101-1307.
- § 1351. §§ 1351-1361.
- § 1401. §§ 1401-1412.
- § 1451. §§ 1451, 1452.
- § 1471. §§ 1471-1478.
- § 1551. §§ 1551-1709.
- § 1801. Purposes The expression “development credit corporation,” hereinafter called the corporation, as used in this chapter shall mean a corporation, incorporated under the general laws of the State, the purposes of which shall be:
- § 1802. General and specific power A development credit corporation shall have such general and specific rights and powers, within the limitations of its charter, as are enjoyed by other
- § 1803. Determination of public good Prior to the granting of a charter to a development credit corporation, the Commissioner shall find that such grant shall promote the general good of the State. (Added 1969, No. 64, § 1, eff
- § 1804. Tax exempt status Being an institution of public welfare created primarily to increment, augment, and
- § 1831. §§ 1831-1917.
- § 1921. §§ 1921-1927.
- § 1931. §§ 1931-1935.
- § 1941. Repealed. 1985, No. 38, § 4.
- § 2051. §§ 2051-2087.
- § 2100. Application of chapter
- § 2101. Definitions Except as otherwise provided in this part:
- § 2102. Application for license
- § 2103. Approval of application and issuance of license
- § 2104. Request for reconsideration; review of denial of application
- § 2105. Contents of license; nontransferable
- § 2106. Additional place of business; change of place of
- § 2107. Change of control
- § 2108. Notification of material change
- § 2109. Annual renewal of license
- § 2110. Revocation, suspension, termination, or nonrenewal of license; cease and desist orders
- § 2111. Revocation, suspension, termination, or nonrenewal where more than
- § 2112. Surrender of license; no effect on liability; reinstatement
- § 2113. Appeal of final order
- § 2114. Rules The Commissioner may adopt rules and issue orders, rulings, demands, and findings as is necessary to perform his or her duties under this part. (Added 2019, No. 20, § 2.)
- § 2115. Penalties
- § 2116. Administrative procedure All administrative proceedings under this part
- § 2117. Examinations and investigations; examination fees
- § 2118. Joint examinations
- § 2119. Records required of licensee
- § 2120. Annual report; call reports
- § 2121. Deceptive advertising
- § 2122. Use of other names or business places
- § 2123. Licenses modified, amended, or repealed by amendment to
- § 2124. Nationwide Multistate Licensing System and Registry
- § 2125. Report to Nationwide Multistate Licensing System and Registry
- § 2126. Confidentiality In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing: (1)(A) The privacy or confidentiality of any information or material provided to the Nationwide
- § 2127. Networked supervision
- § 2200. Definitions As used in this chapter:
- § 2201. Licenses required
- § 2201a. Repealed. 1995, No. 162 (Adj
- § 2201b. Redesignated. 1995, No. 162 (Adj
- § 2202. Repealed. 2019, No. 20, § 5.
- § 2202a. Application for commercial lender license
- § 2202b. Approval of application; issuance of commercial lender license
- § 2203. Bond; liquid assets required
- § 2203a. Additional bond; liquid assets to be maintained
- § 2204. Repealed. 2019, No. 20, § 9.
- § 2204a. Mortgage loan originator prelicensing and relicensing education requirement
- § 2204b. Testing of mortgage loan originators
- § 2204c. Continuing education for mortgage loan originators
- § 2204d. Mortgage loan originator license inactive status The license of a mortgage loan originator that has satisfied all of
- § 2205. Repealed. 2019, No. 20, § 14.
- § 2206. Recodified. 2019, No. 20, § 13.
- § 2207. Recodified. 2019, No. 20, § 8.
- § 2208. Repealed. 2019, No. 20, § 15.
- § 2208a. Mortgage loan originator change of employer or sponsor
- § 2209. Repealed. 2019, No. 20, § 16.
- § 2209a. Recodified. 2019, No. 20, § 12.
- § 2210. Repealed. 2019, No. 20, § 17.
- § 2211. Repealed. 2019, No. 20, § 18.
- § 2212. Repealed. 2019, No. 20, § 19.
- § 2213. Repealed. 2019, No. 20, § 20.
- § 2214. Repealed. 2019, No. 20, § 21.
- § 2215. Repealed. 2019, No. 20, § 22.
- § 2216. Mortgage lending; specific requirements; exceptions Every licensee engaging in the making of loans secured by a lien
- § 2217. Mortgage brokers
- § 2218. Segregated accounts
- § 2219. Contract required of mortgage broker
- § 2220. Disclosure required by mortgage lender In advance of taking any fee or collecting any charges for a mortgage loan, or
- § 2220a. Disclosure required by loan solicitation licensee Each loan solicitation licensee shall include clearly and conspicuously in all advertisements of loans and solicitations of leads, the following statement: THIS IS A LOAN SOLICITATION
- § 2221. Out-of-state mortgage loans A mortgage loan made outside
- § 2222. Examinations The Commissioner shall examine the affairs, business, and records of each licensee under this chapter, other than a loan solicitation company, at least once every three years
- § 2223. Additional records required of loan solicitation licensees
- § 2223a. Repealed. 1969, No. 243 (Adj
- § 2224. Repealed. 2019, No. 20, § 26.
- § 2225. Statement of rates of charge Rates of charge shall be stated fully and clearly in such manner as necessary to prevent misunderstanding thereof by prospective borrowers. (Amended 1995, No. 162 (Adj
- § 2226. Repealed. 2019, No. 20, § 27.
- § 2227. Conduct of unrelated business
- § 2228. Repealed. 2019, No. 20, § 28.
- § 2229. Confessions of judgment; powers of attorney; contents of notes No licensee shall take any confession of judgment
- § 2230. Rate of interest
- § 2231. Contracts to be repayable in monthly installments; maximum term; additional charges prohibited; invalidity of loan contract
- § 2232. Repealed. 1995, No. 162 (Adj
- § 2232a. Requirements regarding the borrower
- § 2233. Charges; loan solicitation; specialized financing
- § 2234. Assignment of wages
- § 2235. Requirements for assignment of wages
- § 2236. Repealed. 1995, No. 162 (Adj
- § 2236a. Extent of assignment; service upon employer Under any
- § 2237. Repealed. 2019, No. 20, § 29.
- § 2238. Out-of-state commercial loans A commercial loan made to a borrower located outside
- § 2239. Commercial leases This chapter shall not apply to commercial leases as defined in 9 V.S.A. chapters 59 and 61. (Added 1989, No. 122, § 1.)
- § 2240. Repealed. 2019, No. 20, § 30.
- § 2241. Prohibited acts and practices It is a violation of this chapter for a person or individual to:
- § 2242. Repealed. 2019, No. 20, § 31.
- § 2243. Repealed. 2019, No. 20, § 32.
- § 2244. Unique identifier shown
- § 2245. Pension loans
- § 2246. Repealed. 2015, No. 55, § 5A.
- § 2251. Definitions As used in this chapter:
- § 2252. Registration; financial stability
- § 2253. Contracts; disclosures and requirements
- § 2254. Prohibited acts
- § 2255. Effect of communication on privileges A communication between a consumer’s attorney and the company shall not be
- § 2256. Examinations For the purpose of protecting consumer interests and determining a company’s financial
- § 2257. Repealed. 2019, No. 20, § 36.
- § 2258. Repealed. 2019, No. 20, § 37.
- § 2259. Violations an unfair or deceptive act
- § 2260. Annual reports
- § 2301. §§ 2301-2304.
- § 2401. Definitions As used in this chapter: (1) “Act as fiduciary” or “acting as a fiduciary” means to: (A) accept or execute trusts, including to:
- § 2402. Authority to organize; powers; limitations; prohibitions; exemptions
- § 2403. Formation
- § 2404. Name; multiple locations
- § 2405. Periodic reports; examinations; cooperative agreements
- § 2406. Reciprocity
- § 2407. Discontinuing trust business; merger and consolidation; sale of trust business; change in control
- § 2408. Laws applicable; matters of contract
- § 2409. Financial transactions
- § 2410. Powers of the Commissioner
- § 2411. Unsafe condition; receivership
- § 2451. Definitions As used in this section:
- § 2452. Personal information as the subject of a fiduciary relationship A personal information protection company that accepts
- § 2453. Qualified personal information protection company
- § 2454. Name; office A personal information protection company shall file with the Department of Financial
- § 2455. Conduct of business
- § 2456. Repealed. 2019, No. 103 (Adj
- § 2457. Reports; rules
- § 2500. Purpose It is the intent of the General Assembly that the provisions of this chapter accomplish the following:
- § 2501. Transition period
- § 2502. Relationship to federal law
- § 2503. Definitions As used in this chapter:
- § 2504. Exemptions This chapter does not apply to:
- § 2504a. Authority to require demonstration of exemption
- § 2505. License required
- § 2506. Application for license; additional information
- § 2507. Money transmission kiosk registration
- § 2515. Check cashing and currency exchange license required
- § 2516. Application for license; additional information In addition to the information required by section 2102 of this title, an application for a license under this subchapter shall state or contain:
- § 2517. Repealed. 2019, No. 20, § 47.
- § 2518. Repealed. 2019, No. 20, § 48.
- § 2519. Activities of check cashers and currency exchanges
- § 2520. Applicability of subchapters The following subchapters of this chapter shall not apply to persons licensed under this subchapter
- § 2525. Relationship between licensee and authorized delegate
- § 2526. Unauthorized activities A person shall not engage in the business of money transmission on behalf of a person not licensed under subchapter 2 of this chapter or not exempt pursuant to subchapter 1 of this chapter
- § 2527. Termination or suspension of authorized delegate activity
- § 2528. Private actions against authorized delegates
- § 2530. Report of condition
- § 2531. Audited financials
- § 2532. Authorized delegate reporting
- § 2533. Change of authorized delegate A licensee shall notify the
- § 2534. Money laundering reports A licensee and an authorized delegate shall file all reports required by federal currency reporting, record keeping, and suspicious activity reporting requirements as set forth in the
- § 2540. Net worth
- § 2541. Security
- § 2542. Maintenance of permissible investments
- § 2543. Types of permissible investments
- § 2545. Change of location
- § 2546. Records
- § 2555. Conservation, liquidation, and insolvency To the extent applicable, the provisions of subchapters 2, 3, and 4 of
- § 2560. Timely transmission
- § 2561. Refunds
- § 2562. Receipts
- § 2563. Notice Every licensee or authorized delegate shall disclose on their website and mobile application the name of the Department and a current link to the Vermont Banking Consumer Complaint
- § 2564. Disclosure for payroll processing services
- § 2571. Definitions As used in this subchapter:
- § 2572. Exemptions
- § 2573. Conditions precedent to engaging in virtual-currency business activity
- § 2574. Required disclosures
- § 2575. Property interests and entitlements to virtual currency
- § 2576. Additional requirements and clarifications for virtual-currency business activities
- § 2577. Virtual-currency kiosk operators
- § 2701. Definitions As used in this chapter:
- § 2702. Expiration date
- § 2702a. Loyalty, award, or promotional gift certificate A loyalty, award, or promotional gift certificate shall clearly and legibly set forth the following disclosures, as applicable:
- § 2703. Prohibited fees
- § 2704. Redemption of gift certificate for cash If the
- § 2705. Balance inquiry The issuer of the gift certificate,
- § 2706. Penalty
- § 2707. Exemption Except as provided in this section, the provisions of this chapter shall not apply to the following:
- § 2708. Investigations and complaints; powers of Commissioner If the
- § 2709. Vermont Consumer Protection Act
- § 2710. Enforcement
- § 2711. Rules
- § 2751. Definitions As used in this chapter, “debt adjustment” means making an agreement with a debtor whereby the
- § 2752. License No person shall engage in the business of debt adjustment except as authorized by this chapter and without first obtaining a license from the Commissioner. (Added 1969, No. 204 (Adj
- § 2753. Application for license; additional information
- § 2754. Repealed. 2019, No. 20, § 68.
- § 2755. Bond required
- § 2756. Repealed. 2019, No. 20, § 69.
- § 2757. Repealed. 2019, No. 20, § 70.
- § 2757a. Annual report; additional information In addition to the information required by section 2120 of this title, the annual report shall state or contain:
- § 2757b. Repealed. 2019, No. 20, § 72.
- § 2758. Repealed. 2019, No. 20, § 73.
- § 2758a. Repealed. 2019, No. 20, § 74.
- § 2759. Contract with debtor
- § 2759a. Rescission
- § 2759b. Cancellation of contract A debtor may cancel a debt adjustment contract at any time without a cancellation premium or penalty. (Added 2003, No. 81 (Adj
- § 2759c. Periodic statements to debtor Periodically, but not less frequently than quarterly, the licensee shall provide the
- § 2760. Separate bank account for the benefit of creditors; books and records
- § 2760a. Timely payments to creditors Licensees shall make payments to creditors in a timely manner at least once every 30 days in accordance with the contract between the licensee and the debtor. (Added 2003, No. 81 (Adj
- § 2760b. Prohibited activities
- § 2760c. Financial privacy The licensee shall be subject to and shall comply with subchapter 2 of chapter 200 of this title and any rules or regulations adopted in connection therewith. (Added 2003, No. 81 (Adj
- § 2761. Examinations The Commissioner shall examine or cause to be examined, with or without notice, the condition
- § 2762. Fee of licensee The fee charged by the licensee shall be agreed upon in advance
- § 2763. Exceptions The provisions of this chapter shall not apply to the following:
- § 2764. Private right of action and Consumer Protection Act
- § 2765. Repealed. 2019, No. 20, § 77.
- § 2766. Repealed. 2019, No. 20, § 78.
- § 2767. Repealed. 2019, No. 20, § 79.
- § 2768. Repealed. 2019, No. 20, § 80.
- § 2900. Definitions As used in this chapter:
- § 2901. License required
- § 2902. Repealed. 2019, No. 20, § 82.
- § 2903. Bond
- § 2904. Repealed. 2019, No. 20, § 83.
- § 2905. Repealed. 2019, No. 20, § 84.
- § 2906. Repealed. 2019, No. 20, § 85.
- § 2907. Additional bond If the Commissioner finds at any time that a licensee’s bond is insecure, exhausted,
- § 2908. Repealed. 2019, No. 20, § 86.
- § 2909. Repealed. 2019, No. 20, § 87.
- § 2910. Repealed. 2019, No. 20, § 88.
- § 2911. Repealed. 2019, No. 20, § 89.
- § 2912. Repealed. 2019, No. 20, § 90.
- § 2913. Repealed. 2019, No. 20, § 91.
- § 2914. Repealed. 2019, No. 20, § 92.
- § 2915. Repealed. 2019, No. 20, § 93.
- § 2916. Segregated accounts
- § 2917. Examinations The Commissioner shall examine the affairs, business, and records of each licensee under this chapter at least once every three years. (Added 2009, No. 96 (Adj
- § 2918. Repealed. 2019, No. 20, § 95.
- § 2919. Repealed. 2019, No. 20, § 96.
- § 2920. Repealed. 2019, No. 20, § 97.
- § 2921. Repealed. 2019, No. 20, § 98.
- § 2922. Prohibited acts and practices
- § 2923. Repealed. 2019, No. 20, § 99.
- § 3301. Purposes
- § 3301a. Insurance defined As used in this title, “insurance” means an agreement to indemnify or otherwise assume
- § 3302. Plan of organization; incorporators For the purpose of this chapter, an insurance company may be incorporated as a
- § 3303. Mutual companies; directors, charter provisions as to The articles of association or bylaws of a mutual insurer shall
- § 3304. Capital and surplus requirements To qualify for authority to transact the business of insurance, a stock insurer
- § 3305. Petition; hearing Before the articles of association are transmitted to the Secretary of State, the
- § 3306. Duties of Secretary of State, records The articles of association, the certificate, and the organization fee shall be
- § 3307. Consideration for stock
- § 3308. List of stockholders; certificate to transact business; liability of president and directors When the
- § 3308a. Reorganization formations Notwithstanding sections 3302, 3303, 3304, 3307, 3308, and 3309 of this title, the
- § 3309. Mutual insurers to commence business; when
- § 3310. Amendment of charter A corporation formed under the provisions of this chapter or by a special act of the
- § 3311. Quorum In the case of a mutual insurance company, the policyholders or annuitants therein, who attend a duly called meeting, shall constitute a quorum. (Added 1967, No. 344 (Adj
- § 3312. Construction with other laws
- § 3313. Proxies
- § 3314. Annual financial statements; reports; filing fee Notwithstanding any other provision of law, any insurer, of whatever
- § 3315. Coordinated regulation Notwithstanding section 5112 of this title and any other provision of this title, the
- § 3316. Corporate governance; disclosure
- § 3361. Requirements for license
- § 3362. Authority to transact various kinds of insurance business
- § 3363. Revocation of license
- § 3364. Authorization for investment purposes only Such insurer may make investments in this State without qualifying to do
- § 3365. Plan of organization Such insurers admitted to do business in this State under authority of this article shall be incorporated as stock or mutual companies as defined in section 3302 of this title
- § 3366. Assets of companies
- § 3367. Retaliatory provisions
- § 3368. Transacting business without certificate of authority prohibited
- § 3368a. Unauthorized and misleading transactions
- § 3369. Commissioner may enjoin unauthorized insurer Whenever the Commissioner believes, from evidence satisfactory to him or
- § 3370. Service of process upon unauthorized insurer by director
- § 3371. Limits of risk
- § 3381. Legislative purpose and policy The purpose of this article is to subject certain insurers to the jurisdiction of courts of this State by or on behalf of insureds or beneficiaries under insurance contracts
- § 3382. Acts that constitute Secretary of State agent for service of process Any of the following acts in this State, effected by mail or otherwise, by an unauthorized foreign or alien insurer:
- § 3383. Service upon the Secretary of State notice to defendant Such service of process shall be made by delivering to and
- § 3384. Service upon other agents; notice to defendant
- § 3385. Repealed. 1971, No. 185 (Adj