§ 11601. Enforcement powers of Commissioner (a) The Commissioner may: (1) Restrict the withdrawal of deposits from a Vermont financial institution, a state financial institution, or a branch of a foreign bank licensed under this title when the Commissioner finds that extraordinary circumstances make the restriction necessary for the proper protection of depositors in the […]
§ 11602. Power of Commissioner to impose corrective action (a) The Commissioner may, in addition to any other power exercisable by the Commissioner under the provisions in this title, require a Vermont financial institution or state financial institution with a branch in this State to: (1) maintain its accounts in accordance with such rules as […]
§ 11603. Criminal penalties (a) It shall be a criminal offense, punishable by a fine of not more than $1,000.00 or imprisonment of not more than one year, or both, for any person to violate any existing order of the Commissioner, or, after receipt of a removal order, or an order assessing a penalty, to […]
§ 11604. Indemnification A financial institution shall not indemnify any person for any penalty or fine imposed under this title. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
§ 11605. Commissioner’s coordination of enforcement and corrective action with home state The Commissioner shall promptly give notice to the home state supervisory agency of each enforcement or corrective action proposed to be undertaken against a state financial institution and, to the extent practicable, shall consult and cooperate with the home state regulator in pursuing […]
