Vermont § 32703 - Records, reports, and examination
Full text of Vermont Vermont Statutes Online § 32703 — Records, reports, and examination, with citation guidance and answers to common questions.
§ 32703. Records, reports, and examination
- (a) A CUSO shall: (1) account for all transactions in accordance with generally accepted accounting principles; (2) prepare quarterly financial statements and obtain an annual opinion audit by a licensed
certified public accountant on its financial statements in accordance with generally
accepted auditing standards; (3) preserve all of its books and records in accordance with rules adopted by the Commissioner
applicable to credit unions; (4) provide the Commissioner with complete access to its books, records, and internal
controls for review, evaluation, and examination; (5) provide such additional audits and reports as requested by the Commissioner; and (6) pay the actual cost of any review, evaluation, or examination conducted by the Commissioner. (b) As frequently as the Commissioner deems appropriate or necessary, the Commissioner
may conduct an examination of the records and books of a CUSO in which a credit union
has invested or to which it has lent funds or that was organized by a credit union. (Added 2005, No. 16, § 1, eff. July 1, 2005; amended 2021, No. 105 (Adj. Sess.), § 337, eff. July 1, 2022.)
Frequently Asked Questions About Vermont § 32703
What does Vermont Statutes Online § 32703 cover?
Section 32703 ("Records, reports, and examination") 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 § 32703?
A common citation format is "Vermont Statutes Online § 32703" (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 § 32703 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.