Vermont § 2864 - Reserve fund
Full text of Vermont Vermont Statutes Online § 2864 — Reserve fund, with citation guidance and answers to common questions.
§ 2864. Reserve fund
- (a) The Corporation shall establish and maintain an allowance for loans not covered by
a federal or other guaranty or insurance, using historical loan delinquency and default
rates and other relevant information. To the extent the reserve fund contains any
monies appropriated by the State, such reserve funds shall be held and administered
in accordance with 32 V.S.A. § 432 and 433. Any such allowance may not be funded from monies appropriated by the General Assembly
to the Corporation unless specifically appropriated for such purposes. (b) The Corporation is authorized to negotiate and enter into agreement with the U.S.
Secretary of Education to reinsure its guarantee of any loans made under this chapter,
and to amend such agreements, consistent with this chapter. (Added 1965, No. 198, § 7(d); amended 1969, No. 83, § 2, eff. April 18, 1969; 1981, No. 174 (Adj. Sess.), § 4, eff. April 20, 1982; 1993, No. 147 (Adj. Sess.), § 5; 2003, No. 86 (Adj. Sess.), § 26.)
Frequently Asked Questions About Vermont § 2864
What does Vermont Statutes Online § 2864 cover?
Section 2864 ("Reserve fund") 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 § 2864?
A common citation format is "Vermont Statutes Online § 2864" (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 § 2864 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.