reglab/housing_qa huggingface dataset:
8 V.S.A. § 8516
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 165 - Interstate Insurance Product Regulation Compact|§ 8516. Other laws

§ 8516. Other laws|(a) Nothing herein prevents the enforcement of any other law of a compacting state, except as provided in subsection (b) of this section.(b) For any product approved or certified to the Commission, the rules, uniform standards, and any other requirements of the Commission shall constitute the exclusive provisions applicable to the content, approval, and certification of such products. For advertisement that is subject to the Commission's authority, any rule, uniform standard, or other requirement of the Commission which governs the content of the advertisement shall constitute the exclusive provision that a Commissioner may apply to the content of the advertisement. Notwithstanding the foregoing, no action taken by the Commission shall abrogate or restrict:  (1) the access of any person to state courts; (2) remedies available under state law related to breach of contract, tort, or other laws not specifically directed to the content of the product; (3) state law relating to the construction of insurance contracts; or (4) the authority of the Attorney General of the state, including maintaining any actions or proceedings, as authorized by law.   (c) All insurance products filed with individual states shall be subject to the laws of those states. (Added 2005, No. 70, § 2.)
8 V.S.A. § 8517
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 165 - Interstate Insurance Product Regulation Compact|§ 8517. Binding effect of this compact

§ 8517. Binding effect of this compact|(a) All lawful actions of the Commission, including all rules and operating procedures adopted by the Commission, are binding upon the compacting states.(b) All agreements between the Commission and the compacting states are binding in accordance with their terms.(c) Upon the request of a party to a conflict over the meaning or interpretation of Commission actions, and upon a majority vote of the compacting states, the Commission may issue advisory opinions regarding the meaning or interpretation in dispute.(d) In the event any provision of this compact exceeds the constitutional limits imposed on the legislature of any compacting state, the obligations, duties, powers, or jurisdiction sought to be conferred by that provision upon the Commission shall be ineffective as to that compacting state, and those obligations, duties, powers, or jurisdiction shall remain in the compacting state and shall be exercised by the agency thereof to which those obligations, duties, powers, or jurisdiction is delegated by law in effect at the time this compact becomes effective. (Added 2005, No. 70, § 2.)
8 V.S.A. § 10101
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10101. Application of consumer protection chapter

§ 10101. Application of consumer protection chapter|Except as otherwise provided in this chapter, the provisions of this chapter shall apply to all financial institutions, as defined in subdivision 11101(32) of this title, licensed lenders, mortgage brokers, mortgage loan originators, sales finance companies, independent trust companies, money service providers, debt adjusters, loan servicers, credit unions, and any other person doing or soliciting business in this State as described in Part 2, 4, or 5 of this title, in addition to any other applicable consumer protection or remedy section not contained in this chapter, unless such consumer protection or remedy section is expressly made exclusive. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2011, No. 78 (Adj. Sess.), § 24, eff. April 2, 2012; 2015, No. 128 (Adj. Sess.), § F.1, eff. May 24, 2016.)
8 V.S.A. § 10102
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10102. Penalties

§ 10102. Penalties|The provisions of subchapter 6 of chapter 201 of this title shall apply to any violation of this chapter, unless the section or subchapter that is the subject of the violation contains its own penalty. The procedures in subchapter 6 of chapter 201 of this title shall apply to any penalty imposed for a violation of this chapter. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 10201
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10201. Statement of policy on financial privacy

§ 10201. Statement of policy on financial privacy|It is the policy of this state to protect the privacy of customers of financial institutions without unduly inhibiting the free flow of commerce or legitimate law enforcement activities. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 10202
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10202. Definitions

§ 10202. Definitions|As used in this subchapter:  (1) "Account verification service" means any person which, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of:  (A) assembling information on the frequency and location of depository account openings or attempted openings by a consumer, or forced closings by a depository institution of accounts of a consumer; or (B) authenticating or validating Social Security numbers or addresses for the purpose of reporting to third parties for use in fraud prevention. Mailing such information to a customer to the address provided by such customer shall not be prohibited by this subchapter.  (2) "Credit reporting agency" means any person who, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of reporting to third parties on the credit rating or creditworthiness of any consumer. (3) "Customer" means, for purposes of this subchapter, any person who deposits, borrows, or invests with a financial institution, including a surety or a guarantor on a loan. (4) "Financial information" means an original or copy of, or information derived from:  (A) a document that grants signature authority over a deposit or share account; (B) a statement, ledger card, or other record of a deposit or share account that shows transactions in or with respect to that deposit or account; (C) a check, clear draft, or money order that is drawn on a financial institution or issued and payable by or through a financial institution; (D) any item, other than an institutional or periodic charge, that is made under an agreement between a financial institution and another person's deposit or share account; (E) any information that relates to a loan account or an application for a loan; or (F) evidence of a transaction conducted by electronic or telephonic means.  (5) "Financial institution" means a financial institution as defined in subdivision 11101(32) of this title, and a credit union, financial institution subsidiary, licensed lender, mortgage broker, or sales finance company organized or regulated under the laws of this State, the United States or any other state or territory. (6) "Mercantile agency" means any person, which for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating business credit information or other information on businesses for the purpose of reporting to third parties on the credit rating or creditworthiness of any business. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 10203
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10203. Disclosure of financial records prohibited

§ 10203. Disclosure of financial records prohibited|Except as otherwise expressly provided in this subchapter, a financial institution, its officers, employees, agents, and directors shall not disclose to any person any financial information relating to a customer. Financial institutions shall adopt reasonable procedures to assure compliance with this subchapter. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 10205
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10205. Penalties

§ 10205. Penalties|In addition to the authority provided under sections 11601, 11602 and 11603 of this title, the Commissioner may impose an administrative penalty of not more than $1,000.00 for each violation of this subchapter resulting from willful conduct, or from a failure by a financial institution to provide reasonable supervision of its employees to prevent violations of this subchapter. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 10301
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10301. Community reinvestment reports

§ 10301. Community reinvestment reports|Every financial institution subject to the Federal Community Reinvestment Act of 1977 (12 U.S.C. § 2901) as amended shall provide to the Commissioner a copy of any report issued with respect to such financial institution under that act. If the financial institution is not a Vermont financial institution, then the requirements of this section shall only apply to reports that relate to its business in this State. The Commissioner shall make such reports available for public inspection and copying. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 10302
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10302. Automated teller machines

§ 10302. Automated teller machines|(a) The owner of an automated teller machine or other remote service unit, including a cash dispensing machine, located or employed in this State shall prominently and conspicuously disclose on or at the location of each such machine or on the first screen of each such machine the identity, address, and telephone number of the owner and the availability of consumer assistance. The owner shall also disclose on the screen of such machine or on a paper notice issued from the machine the amount of the fees or charges which the owner will assess to the consumer for the use of that machine. The amount of the fees or charges shall be disclosed before the consumer is irrevocably committed to completing the transaction. The Commissioner shall approve the form, content, timing, and location of such disclosures and any amendments thereto prior to use. The Commissioner shall act on any submission made under this section within 30 days of receipt. If the Commissioner determines that any disclosures do not provide adequate consumer protection, the Commissioner may by order or by rule specify minimum disclosure standards, including the form, content, timing, and location of such disclosures. The Commissioner may impose on the owner of an automated teller machine or other remote service unit an administrative penalty of not more than $1,000.00 for each day's failure of the owner to apply to the Commissioner for approval of disclosures required under this section, for each day's failure of the owner to use disclosures approved by the Commissioner, or for each day's continuing violation of an order of the Commissioner relating to the disclosures required by this section.(b) The owner of an automated teller machine or other remote service unit, including a cash dispensing machine, located or employed in this State shall notify the Commissioner of the location of each terminal at least 30 days prior to the activation of such terminal. The owner shall notify the Commissioner of the deactivation of any terminal within 30 days after the deactivation of such terminal.(c) In addition to an automated teller machine or other remote service unit owned by a financial institution or credit union, the provisions of this section shall apply to any automated teller machine or other remote service unit not owned by a financial institution or credit union, except it shall not include a point-of-sale terminal owned or operated by a merchant who does not charge a fee for the use of the point-of-sale terminal. The activities of an automated teller machine or other remote service unit whose owner is not a financial institution shall be limited to cash dispensing or the offer or sale of nonbanking services and products. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2013, No. 29, § 16, eff. May 13, 2013; 2019, No. 20, § 101.)
8 V.S.A. § 10402
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10402. Lending reports, disclosures and standards

§ 10402. Lending reports, disclosures and standards|An entity subject to this chapter shall be subject to and comply with the provisions of 9 V.S.A. chapter 4. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 10501
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10501. Basic banking

§ 10501. Basic banking|It is the public policy of this State to promote the economic viability and prosperity of its residents and to promote, attract, and encourage savings. The General Assembly finds and declares that access to basic banking services for basic depository transactions is necessary for the payment of monthly expenses and for the encouragement of thrift by Vermont consumers. The General Assembly further finds and declares that reasonable cost basic banking services promote savings on the part of consumers who are young, old, or have low income, and provide, through means of payment by check, draft, negotiable order of withdrawal, or similar instrument, a viable alternative for cash transactions which is essential to all Vermont consumers. Therefore, it is the purpose of this chapter to ensure that basic banking services remain available to all Vermont consumers. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2013, No. 96 (Adj. Sess.), § 25.)
8 V.S.A. § 10502
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10502. Definitions relating to basic banking

§ 10502. Definitions relating to basic banking|As used in sections 10501 through 10504 of this title, the following terms shall have the following meanings:  (1) "Basic checking account" means a deposit account on which the consumer is permitted to make payments or transfers by check, money order, or other negotiable instruments and which is maintained by such person for personal, family, or household purposes. (2) "Basic savings account" means a savings account or statement savings which is maintained by such person for personal, family, or household purposes. (3) "Consumer" means a natural person. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 10504
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10504. Basic banking rules

§ 10504. Basic banking rules|The Commissioner may adopt rules to require financial institutions with their principal place of business in this State to offer basic checking and savings accounts if the Commissioner finds a material deterioration in the availability and cost of basic checking and savings account services in the results of any two consecutive surveys. The rule adopted by the Commissioner under this section shall assure that any required basic banking will not impair the safety and soundness of any affected financial institution and that any such rules shall not adversely affect other consumers of banking services. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 10505
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10505. Returned check charges

§ 10505. Returned check charges|No depository institution or credit union shall assess a returned check charge or similar charge against a depositor for the costs of processing a check received by that depositor and returned for nonsufficient funds by the institution upon which it was drawn. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2001, No. 73 (Adj. Sess.), § 1, eff. Feb. 2, 2002.)
8 V.S.A. § 10506
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10506. Unsolicited distribution of cash advance contracts and notes

§ 10506. Unsolicited distribution of cash advance contracts and notes|No person shall distribute by mail, or in any other manner, to a Vermont resident, an unsolicited cash advance contract or note in furtherance of that contract. A person who violates this section shall also be subject to the provisions of subchapter 6 of chapter 201 of this title. This section does not apply to:  (1) any communication by a lender with a borrower pursuant to a preexisting credit relationship, including the furnishing on an unsolicited basis of any check, card, plate or other means of accessing a preexisting loan or line of credit; or (2) any unsolicited firm offer of credit made in compliance with the rules of the Federal Trade Commission relating to prescreening, as in effect from time to time. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 10601
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10601. Application

§ 10601. Application|This subchapter shall apply to all persons licensed, authorized, or registered, or required to be licensed, authorized, or registered under Parts 2, 4, and 5 of this title. (Added 2005, No. 18, § 1; amended 2015, No. 128 (Adj. Sess.), § F.2, eff. May 24, 2016.)
8 V.S.A. § 10602
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10602. Compliance with federal laws and regulations

§ 10602. Compliance with federal laws and regulations|(a) All persons subject to this subchapter shall comply with all applicable requirements of the Truth in Lending Act of 1968, Pub. L. No. 90-321, Title I and Regulation Z, 12 C.F.R. Part 1026; the Real Estate Settlement Procedures Act of 1974, Pub. L. No. 93-533 and Regulation X, 12 C.F.R. Part 1024; and the Bank Secrecy Act of 1970, Pub. L. No. 91-508 and 31 C.F.R. Chapter X, as now or hereafter amended.(b) The Commissioner may make such investigations and examinations to enforce the provisions of this subchapter as the Commissioner deems necessary or appropriate and may take any appropriate actions against any person whom the Commissioner has reason to believe has violated or is in violation of this subchapter. (Added 2005, No. 18, § 1; amended 2011, No. 21, § 2, eff. May 11, 2011; 2019, No. 20, § 103.)
8 V.S.A. § 10603
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10603. Penalty

§ 10603. Penalty|The Commissioner, in addition to using any other power exercisable by the Commissioner under this title, may:  (1) impose an administrative penalty of not more than $1,000.00 for each violation upon any person who violates or participates in a violation of any law or regulation described in this subchapter; (2) impose an administrative penalty in an amount greater than the amount prescribed in subdivision (1) of this section if a greater amount is prescribed in the federal law or regulation violated; (3) order any person to make restitution to any person injured as a result of any violation of this subchapter; and (4) order any person to cease violating this subchapter. (Added 2005, No. 18, § 1.)
8 V.S.A. § 10701
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10701. Definitions

§ 10701. Definitions|As used in this subchapter:  (1) Financial institution. "Financial institution" means a financial institution as defined in subdivision 10202(5) of this chapter. (2) Reverse mortgage loan. "Reverse mortgage loan" means a loan that:  (A) is a loan wherein the committed principal amount is secured by a mortgage on residential property owned by the borrower; (B) is due upon sale of the property securing the loan or upon the death of the last surviving borrower or upon the borrower terminating use of the real property as a principal residence or upon the borrower's default; (C) provides cash advances to the borrower based upon the equity or the value in the borrower's owner-occupied principal residence; and (D) requires no payment of principal or interest until the entire loan becomes due and payable. (Added 2009, No. 53, § 4.)
8 V.S.A. § 10702
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10702. Counseling

§ 10702. Counseling|Prior to accepting an application for a reverse mortgage loan, a financial institution shall refer every borrower to counseling from an organization that is a housing counseling agency approved by the United States Department of Housing and Urban Development, and shall receive certification from the counselor that the borrower has received in person face-to-face counseling. However, if the borrower cannot or chooses not to travel to a counselor and cannot be visited by a counselor in their home, telephone counseling shall be provided by counseling agencies that are authorized by the Department of Financial Regulation. The certificate shall be signed by the borrower and the counselor and include the date of counseling, the name, address, and telephone number of both the borrower and the organization providing counseling, and shall be maintained by the holder of the reverse mortgage throughout the term of the reverse mortgage loan. (Added 2009, No. 53, § 4; amended 2011, No. 78 (Adj. Sess.), § 2, eff. April 2, 2012.)
8 V.S.A. § 10703
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10703. Annuities

§ 10703. Annuities|A financial institution shall not require an applicant for a reverse mortgage to purchase an annuity as a condition of obtaining a reverse mortgage loan. A financial institution or a broker arranging a reverse mortgage loan shall not:  (1) offer an annuity to the borrower prior to the closing of the reverse mortgage or before the expiration of the right of the borrower to rescind the reverse mortgage agreement; (2) refer the borrower to anyone for the purchase of an annuity prior to the closing of the reverse mortgage or before the expiration of the right of the borrower to rescind the reverse mortgage agreement. (Added 2009, No. 53, § 4.)
8 V.S.A. § 10704
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 200 - Consumer Protection|§ 10704. Limitation on reverse mortgage loan programs

§ 10704. Limitation on reverse mortgage loan programs|No financial institution shall issue a reverse mortgage loan unless it is a lender approved by the federal Department of Housing and Urban Development (HUD) to enter into a loan insured by the federal government and the reverse mortgage loan complies with all requirements for participation in the HUD Home Equity Conversion Mortgage Program (or other similar federal reverse mortgage loan program from time to time created) and is insured by the Federal Housing Administration or other similar federal agency or is a government sponsored enterprise reverse mortgage loan. (Added 2009, No. 53, § 4.)