Vermont § 31105 - Payment of share deposits
Full text of Vermont Vermont Statutes Online § 31105 — Payment of share deposits, with citation guidance and answers to common questions.
§ 31105. Payment of share deposits
- (a) A credit union organized under this chapter shall not commence business until the
minimum share deposits required by the order granting permission to organize have
been deposited in cash to the credit of the credit union in a depository designated
by the governing body. Share deposits taken as pledges pursuant to subsection 31103(c) of this title must be converted to cash and deposited to the credit of the credit union to be included
in the minimum share deposit requirement of this subsection. (b) At such time as the credit union has received in cash the minimum share deposits required
in section 31103 of this title, a complete list of the share depositors, with the name, address, occupation, and
the amount of the share deposited by each shall be filed with the Commissioner, which
list shall be verified by an officer and the secretary of the credit union. Such deposits
shall be handled by the credit union in accordance with subchapter 5 of this chapter. (Added 2005, No. 16, § 1, eff. July 1, 2005.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 31105
What does Vermont Statutes Online § 31105 cover?
Section 31105 ("Payment of share deposits") 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 § 31105?
A common citation format is "Vermont Statutes Online § 31105" (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 § 31105 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.