Vermont Statutes Title 8. Banking and Insurance, § 20101. Reorganization of a mutual or cooperative financial institution as a mutual holding company

(A) organizing a mutual holding company subsidiary financial institution in accordance with the procedures in section 20102 and chapter 202 of this title, the voting common stock or other ownership interest of which will be owned by the mutual holding company emerging from the reorganization, except otherwise permitted in section 20106 of this title;

(B) transferring to the mutual holding company subsidiary financial institution the substantial part of its assets and liabilities, including all of its insured liabilities, in exchange for voting common stock or other ownership interest of the mutual holding company subsidiary financial institution; and

(C) adopting amended and restated organizational documents changing its name, and conforming its organization, governance, and powers to those prescribed for a mutual holding company by section 20104 of this title; or