Vermont § 2203a - Additional bond; liquid assets to be maintained
Full text of Vermont Vermont Statutes Online § 2203a — Additional bond; liquid assets to be maintained, with citation guidance and answers to common questions.
§ 2203a. Additional bond; liquid assets to be maintained
- (a) If the Commissioner finds at any time that a licensee’s bond is insecure, exhausted,
insufficient, or otherwise doubtful, the Commissioner shall require one or more additional
bonds meeting the standards set forth in section 2203 of this title. The licensee shall file the bond within 10 days of the Commissioner’s written demand
to do so. (b) Every licensee, except as set forth in subsection (c) of this section, shall maintain
at all times assets in amounts as set forth in section 2203 of this title, or in such greater amount deemed necessary by the Commissioner. Assets must be either
in liquid form available for the operation of or actually used in the conduct of such
business at the location specified in the license. (c) Every licensee making commercial loans shall maintain liquid assets in an amount deemed
necessary by the Commissioner, but in no event less than $50,000.00. (Amended 1983, No. 35, § 3; 1989, No. 244 (Adj. Sess.), § 3; 1995, No. 162 (Adj. Sess.), § 8, eff. Jan. 1, 1997.)
Frequently Asked Questions About Vermont § 2203a
What does Vermont Statutes Online § 2203a cover?
Section 2203a ("Additional bond; liquid assets to be maintained") 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 § 2203a?
A common citation format is "Vermont Statutes Online § 2203a" (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 § 2203a 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.