Vermont § 2406 - Reciprocity
Full text of Vermont Vermont Statutes Online § 2406 — Reciprocity, with citation guidance and answers to common questions.
§ 2406. Reciprocity
- (a) An independent trust company organized under the laws of a jurisdiction other than
Vermont shall be authorized to engage in a trust business in this State, to the same
extent and under the same conditions that an independent trust company formed in this
State may operate in such other jurisdiction. The independent trust company organized
under the laws of a jurisdiction other than Vermont must obtain the Commissioner’s
written authorization before it may engage in a trust business in this State. (b) For purposes of this section, an independent trust company organized under the laws
of a jurisdiction other than Vermont shall mean an entity that is organized and regulated
in a manner that is substantially similar to an independent trust company formed under
this chapter by whatever name, but which is not a financial institution within the
meaning of subdivision 11101(32) of this title. (Added 1997, No. 98 (Adj. Sess.), § 8b; amended 1999, No. 153 (Adj. Sess.), § 21, eff. Jan. 1, 2001.)
Frequently Asked Questions About Vermont § 2406
What does Vermont Statutes Online § 2406 cover?
Section 2406 ("Reciprocity") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 2406?
A common citation format is "Vermont Statutes Online § 2406" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 2406 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.