Vermont § 11504 - Examinations; cooperative agreements
Full text of Vermont Vermont Statutes Online § 11504 — Examinations; cooperative agreements, with citation guidance and answers to common questions.
§ 11504. Examinations; cooperative agreements
- (a) To the extent consistent with subsection 11505(a) of this title, the Commissioner may make such examinations of any branch established and maintained
in this State pursuant to chapter 205 of this title by a state financial institution
as the Commissioner may deem necessary to determine whether the branch is being operated
in compliance with the laws of this State and in accordance with safe and sound banking
practices. The provisions of sections 18, 19, 11501, 11502, and 11503 of this title shall apply to such examinations. (b) The Commissioner may enter into contracts with any financial institution supervisory
agency that has concurrent jurisdiction over a Vermont financial institution or a
state financial institution maintaining a branch, agency, office, or location in this
State to engage the services of such supervisory agency’s examiners, or to provide
the services of the Commissioner’s examiners to such supervisory agency. (c) The Commissioner may enter into joint examinations or joint enforcement actions with
other supervisory agencies having concurrent jurisdiction over any branch, agency,
office, or location established and maintained in this State by a state financial
institution or any branch, agency, office, or location located in any host state that
is established and maintained by a Vermont financial institution, provided that the
Commissioner may at any time take such actions independently if the Commissioner deems
such actions to be necessary or appropriate to carry out his or her responsibilities
under this title or to ensure compliance with the laws of this State, but provided
further that, in the case of a financial institution that has its principal place
of business in a state other than this State, the Commissioner shall recognize the
exclusive authority of the home state regulator over organizational governance matters
and the primary responsibility of the home state regulator with respect to safety
and soundness matters. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 11504
What does Vermont Statutes Online § 11504 cover?
Section 11504 ("Examinations; cooperative agreements") 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 § 11504?
A common citation format is "Vermont Statutes Online § 11504" (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 § 11504 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.