§ 12201. Meetings
§ 12201. Meetings (a) The governing body of a Vermont financial institution shall meet at least monthly, except as otherwise provided in this section. A governing body that has appointed an executive committee which meets during the months in which the governing body does not meet, shall meet at least six times a year, including […]
§ 12301. Bonds and insurance
§ 12301. Bonds and insurance (a) The governing body of a Vermont financial institution shall direct and require good and sufficient fidelity bonds on all active officers, employees, and agents, whether or not they draw salary or compensation, which bonds shall provide for indemnity to the financial institution on account of any losses sustained by […]
§ 12401. Limitation; form
§ 12401. Limitation; form (a) A Vermont financial institution may not authorize dividends, distributions, or withdrawals that reduce capital below the higher of the amount required under the certificate of general good or section 14104 of this title without the prior approval of the Commissioner. (b) Dividends, distributions, and withdrawals shall be in cash or […]