Vermont § 32701 - Organization of a credit union service organization
Full text of Vermont Vermont Statutes Online § 32701 — Organization of a credit union service organization, with citation guidance and answers to common questions.
§ 32701. Organization of a credit union service organization
- (a) With the approval of the Commissioner, a credit union may establish a credit union
service organization (CUSO) by itself or jointly with one or more other Vermont credit
unions, federal credit unions, state-chartered credit unions, or other federally insured
depository institutions within or outside this State. The establishing credit union
shall file an application with the Commissioner, which application shall include a
description of the services to be engaged in by the CUSO, an explanation of how the
proposed services are related to credit union services, the application fee, and any
other information that the Commissioner may require. (b) A CUSO shall be organized as a corporation or as a limited liability company and the
potential exposure of each credit union shall be no more than the amount of funds
invested in or lent to the CUSO by such credit union. (Added 2005, No. 16, § 1, eff. July 1, 2005.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 32701
What does Vermont Statutes Online § 32701 cover?
Section 32701 ("Organization of a credit union service organization") 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 § 32701?
A common citation format is "Vermont Statutes Online § 32701" (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 § 32701 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.