Vermont § 31310 - Prohibited management interlocks
Full text of Vermont Vermont Statutes Online § 31310 — Prohibited management interlocks, with citation guidance and answers to common questions.
§ 31310. Prohibited management interlocks
- (a) Except with the Commissioner’s prior written approval, a director, officer, or employee
of any other credit union or financial institution shall not at the same time be a
director, officer, or employee of a credit union with a place of business or doing
business in the State of Vermont. (b) The terms of this section shall not apply to: (1) a credit union that is in liquidation, receivership, conservatorship, or similar proceedings; (2) a corporate credit union; (3) a credit union service organization affiliated by reason of common ownership or control
of at least 25 percent of the voting interest of such affiliated credit union service
organization; or (4) any other relationship otherwise permitted under guidelines or regulations of federal
supervisory authorities or the Commissioner adopted from time to time, relating to
management interlocks. (Added 2005, No. 16, § 1, eff. July 1, 2005.)
Frequently Asked Questions About Vermont § 31310
What does Vermont Statutes Online § 31310 cover?
Section 31310 ("Prohibited management interlocks") 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 § 31310?
A common citation format is "Vermont Statutes Online § 31310" (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 § 31310 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.