Vermont Statutes Title 8. Banking and Insurance, § 33103. Offices of State-chartered credit unions

(1) is financially solvent;

(2) maintains bonds and share insurance as required under subchapter 6 of chapter 221 of this title;

(3) is effectively examined and supervised by an official of the state in which it is chartered: and

(4) is in compliance with the requirements set forth in subsection 33102(b) of this title.

(1) charges interest in compliance with the provisions of 9 V.S.A. chapter 4 when making loans in this State;

(2) complies with the consumer protection statutes and rules applicable to Vermont credit unions;

(3) agrees to furnish the Commissioner with a copy of the examination report conducted by its regulatory agency or to submit to an examination by the commissioner; and

(4) designates and maintains an agent for the service of process in this State.

(1) The state credit union no longer meets the requirements of this section.

(2) The state credit union has violated the laws of this State or lawful rules or orders issued by the Commissioner.

(3) The state credit union has engaged in a pattern of unsafe or unsound credit union practices.

(4) Continued operation by the state credit union is likely to have a substantially adverse impact on the financial, economic, or other interests of residents of this State.

(5) The state credit union is prohibited from operating in its home state.