Vermont Statutes Title 8. Banking and Insurance, § 30702. Power of Commissioner to impose corrective action

(1) maintain its accounts in accordance with such rules as the Commissioner may prescribe having regard to the size of the organization;

(2) observe methods and standards which the Commissioner may prescribe for determining the value of various types of assets;

(3) charge off or sell the whole or part of an asset which was acquired in violation of:

(4) write down an asset to its market value;

(5) record liens and other interests in property;

(6) obtain a financial statement from a borrower to the extent that the credit union can do so;

(7) obtain insurance against damage to real estate taken as security;

(8) search, or obtain insurance of, the title to real estate taken as security;

(9) maintain adequate insurance against such other risks as the Commissioner may deem necessary and appropriate for the protection of members and the public; and

(10) maintain such additional policies and procedures as the Commissioner may require.