reglab/housing_qa huggingface dataset:
8 V.S.A. § 11201
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11201. Business days

§ 11201. Business days|(a)(1) For purposes of this title, unless otherwise provided under other state or federal law applicable to a Vermont or state financial institution that is a depository institution, a business day is a calendar day other than the following:   (A) Saturday and Sunday; (B) New Year's Day, January 1; (C) Martin Luther King, Jr.'s Birthday, the third Monday in January; (D) Presidents' Day, the third Monday in February; (E) Town Meeting Day, the first Tuesday in March; (F) Memorial Day, the last Monday in May; (G) Independence Day, July 4; (H) Bennington Battle Day, August 16; (I) Labor Day, the first Monday in September; (J) Indigenous Peoples' Day, the second Monday in October; (K) Veterans' Day, November 11; (L) Thanksgiving Day, the fourth Thursday in November; (M) Christmas Day, December 25.  (2) A legal holiday that falls on a Saturday may be observed on the preceding Friday, and a legal holiday that falls on a Sunday may be observed on the following Monday.   (b) A Vermont financial institution may choose to remain open or to close any of its banking offices on any of the days enumerated in subsection (a) of this section. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2019, No. 14, § 11, eff. April 30, 2019; 2019, No. 18, § 3.)
8 V.S.A. § 11202
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11202. Banking day

§ 11202. Banking day|(a) Each Vermont and state depository institution shall be open not less than five banking days each week, except for the days enumerated in subsection 11201(a) of this title, or except as otherwise provided in this chapter.(b) In addition to the hours of each banking day established by an institution under subsection (a) of this section, a Vermont or state depository institution may, at its discretion, establish days and hours for its offices, including opening offices for business on days that are not defined as business days in section 11201 of this title. The financial institution's governing body is responsible for determining the scope of operations of each branch, including the services to be provided and the days and hours of operation.(c) A Vermont or state depository institution shall post the days and hours of operation at or near the public entrances to its banking offices and shall provide customers with reasonable advance notice of reduction in services or hours of operation.(d) Any act authorized, required, or permitted to be performed at, by, or with respect to any Vermont or state depository institution on a day not defined as a business day or on a day the institution is closed pursuant to section 11204 or 11205 of this title, may be performed on the next succeeding business day and liability or loss of rights of any kind to such financial institution shall not result from this delay. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 11203
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11203. Special hours

§ 11203. Special hours|In addition to the hours of each banking day under subsection 11202(a) of this title, a Vermont or state depository institution may have special hours on banking or other than banking days when it is open in a limited capacity for certain definite and stated transactions or purposes only, constituting substantially less than all of its banking functions. A copy of such schedule of special hours shall be filed with the commissioner. The payment, certification, or acceptance of a check or other negotiable instrument, or any other transaction by such financial institution shall be valid, notwithstanding it was done or performed during such special hours on other than a banking day. A Vermont or State depository institution with special hours on other than a banking day shall not constitute such day a "banking day," for the purpose of notice, presentment, protest, notice of protest, or the time requirements for any act or action or notice to perfect or preserve rights accorded under 9A V.S.A. article 4. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 11204
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11204. Closing for cause

§ 11204. Closing for cause|A Vermont or State depository institution may temporarily close any of its offices for reasons that include good cause, extreme weather conditions, and community events. If a Vermont or State depository institution temporarily closes any of its offices for all or any part of a banking day, the institution shall post a conspicuous notice of the closing at all points of public access to the closed offices. A closing may not become effective until such notice is posted at the office to be closed. Posting this notice relieves the institution from liability for failure to perform any of the business of the financial institution at the closed offices. The Commissioner may, by adopting rules, establish standards governing the form and content of the notice required under this section, and may require dissemination of the notice of closing by any other reasonable means. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 11205
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11205. Emergency closing by financial institution

§ 11205. Emergency closing by financial institution|(a) If an emergency arises or is so imminent and immediate as to interfere with or threaten the conduct of normal banking transactions or the safety and welfare of a Vermont or State depository institution's plant, assets, or personnel, the financial institution officer or official in charge of any office open to the public may determine not to open the office so threatened or close the same, if open. The financial institution shall notify the Commissioner of the emergency closing, as soon as reasonably possible. In no case, however, shall the office or offices closed under this section remain closed for more than two consecutive business days commencing the day following closure, except as otherwise provided by law, unless the Governor or Commissioner shall expressly authorize and sanction the same.(b) An emergency closing pursuant to this section including the hours of any extension sanctioned by the Governor or Commissioner shall be lawful and the time of such closing, including any partial day before a closing, shall be considered a holiday and not a banking day. Nevertheless, the transaction of any banking business shall be valid and have the same effect as if performed during special hours on other than a banking day in accordance with section 11203 of this title. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 11301
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11301. Preservation of records

§ 11301. Preservation of records|(a) A Vermont financial institution, and a state financial institution with a branch in this State, shall keep those books, accounts, and records relating to all of its transactions that will enable the Commissioner to ensure full compliance with the laws of this State. Each such financial institution shall retain its business records for such periods as prescribed by the Commissioner by regulation.(b) Any such financial institution may dispose of any record which has been retained for the period prescribed by or in accordance with the regulation for retention of records of its class, and thereafter shall be under no duty to produce the record in any action or proceeding.(c) Records required to be preserved and retained by law or regulation may be maintained in paper, photograph, microprocess, magnetic, digital, mechanical, or electronic media, or in or by any other information storage device or process which forms a durable medium providing reasonable assurances against tampering and degradation of any reproduction of the original record, and which can be accurately transferred to paper in a legible written form within a reasonable time. Records maintained in a computer-based format shall be archival in nature only, so as to preclude the possibility of alteration of the content of the record by computer once the record has been transferred to that format. Any record reproduced from a record maintained in compliance with this subsection shall have the same force and effect as the original thereof and may be admitted in evidence equally with the original. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 11401
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11401. Financial reports

§ 11401. Financial reports|(a) The Commissioner shall require each Vermont financial institution to submit at least quarterly in each calendar year a report of its condition in such manner and as of such dates as the Commissioner may fix. Only summary reports and examinations shall be required with respect to fiduciary activities which are subject to court accountings. The Commissioner may accept reports filed with other regulators for purposes of the requirements of this section.(b) The Commissioner may require special reports to include special information as the Commissioner may direct. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 11402
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11402. Internal audits

§ 11402. Internal audits|(a) The governing body shall cause internal audits of the Vermont financial institution to be performed. The internal audit shall be reported in writing to the governing body at least once in six months if made by a committee of the governing body and at least once a year if made by a certified or registered public accountant. Any committee of the governing body shall consist of at least three persons. At the request of the Commissioner a copy of the report shall be made available to the Commissioner.(b) Prior to declaration of any dividend or other distribution, the governing body of a Vermont financial institution shall determine that the institution will continue to meet the capital requirements under section 14104 of this title as established by the Commissioner after payment of the proposed dividend or other distribution. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 11403
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11403. Periodic reports from state financial institutions with a branch, office, or activity in this State

§ 11403. Periodic reports from state financial institutions with a branch, office, or activity in this State|(a) The Commissioner may require periodic reports from any state financial institution that has established and maintains a branch in this State pursuant to section 15202 of this title.(b) The Commissioner may require periodic reports from any state financial institution that has established and maintains an office or conducts an activity pursuant to section 15204 of this title.(c) Any reporting requirements prescribed by the Commissioner under this section shall be:  (1) consistent with the reporting requirements applicable to financial institutions incorporated under the laws of this State; and (2) appropriate for the purpose of enabling the Commissioner to carry out his or her responsibilities under the laws relating to branching, offices, or activities. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 11404
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11404. Reports required under consumer protection chapter

§ 11404. Reports required under consumer protection chapter|A financial institution shall file with the Commissioner reports as required by chapter 200 of this title on the following:  (1) community reinvestment activities; and (2) basic banking. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2007, No. 178 (Adj. Sess.), § 3.)
8 V.S.A. § 11405
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11405. Exemption from annual report to Secretary of State

§ 11405. Exemption from annual report to Secretary of State|Vermont financial institutions shall not be required to make any annual report to the Secretary of State. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 11501
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11501. Examinations

§ 11501. Examinations|(a) The Commissioner shall conduct a regular examination of the condition of each Vermont financial institution at least once every three years or more frequently as the Commissioner determines it to be prudent.(b) The Commissioner may at any time conduct a special examination or may expand the scope of any regular examination. An entity examined pursuant to this subsection shall be responsible for examination fees and expenses provided in section 18 of this title and collected as provided in subsections (c) and (e) of section 19 of this title.(c) The Commissioner shall be given access to all the files, books, accounts, securities, and assets of the financial institution and any person under contract with it to perform services for the financial institution that the Commissioner deems material to the financial condition of the financial institution and shall be afforded every reasonable facility for making an examination of the affairs of the financial institution and such person under contract.(d) Whenever the Commissioner deems it necessary, the Commissioner may examine any company, the majority of the stock of which is owned by a Vermont financial institution, or which is found by the Commissioner to be controlled by a Vermont financial institution. In addition, whenever the Commissioner deems it necessary in the conduct of the exercise of the Commissioner's supervisory authority over a financial institution, the Commissioner may review the records of any person that controls a Vermont financial institution. In furtherance of the conduct of the exercise of the Commissioner's supervisory authority over a Vermont financial institution, to the extent not prohibited by federal law, and upon the request of the Commissioner, a person that controls a financial institution shall furnish to the Commissioner copies of reports filed with the Federal Reserve Board or the Office of Thrift Supervision. Such person shall also consent to the request by the Commissioner to the Federal Reserve Board or the Office of Thrift Supervision for any other information pertaining to such person. The Commissioner shall not disclose any information obtained pursuant to this section which is treated as confidential by the Federal Reserve Board or the Office of Thrift Supervision. Nothing in this section shall be construed to grant any additional examination, supervisory, or regulatory authority over any person that controls a Vermont financial institution. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 11502
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11502. Confidentiality of investigation and examination reports

§ 11502. Confidentiality of investigation and examination reports|(a) Regardless of source, all records of investigations, including information pertaining to a complaint by or for a consumer, and all records and reports of examinations by the Commissioner, whether in the possession of a supervisory agency or another person, shall be confidential and privileged, shall not be made public, and shall not be subject to discovery or introduction into evidence in any private civil action. No person who participated on behalf of the Commissioner in an investigation or examination shall be permitted or required to testify in any such civil action as to any findings, recommendations, opinions, results or other actions relating to the investigation or examination. The Commissioner may, in his or her discretion, disclose or publish or authorize the disclosure or publication of any such record or report or any part thereof, to civil or criminal law enforcement authorities for use in the exercise of such authority's duties, in such manner as the Commissioner may deem proper.(b) For the purposes of this section, records of investigations and records and reports of examinations shall include joint examinations by the Commissioner and any other supervisory agency. Records of investigations and reports of examinations shall also include, when such records are considered confidential by an agency or foreign government and the records are in the possession of the Commissioner, records of examinations and investigations conducted by:  (1) any supervisory agency; and (2) the supervisory agency of any foreign government with jurisdiction over any financial institution. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 11503
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11503. Examinations by federal regulatory agencies; departmental participation

§ 11503. Examinations by federal regulatory agencies; departmental participation|Where an examination is normally conducted by the Department jointly with a federal regulatory authority, the Commissioner, at such times as the Commissioner deems necessary or appropriate because of departmental fiscal restraints, may reduce or eliminate the Department's participation in such examination. Where the Commissioner determines such reductions are necessary or appropriate, the Commissioner is authorized to rely on the examination report of the federal regulatory authority as the basis for exercising his or her powers and discharging his or her responsibilities under this title. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 11504
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11504. Examinations; cooperative agreements

§ 11504. Examinations; cooperative agreements|(a) To the extent consistent with subsection 11505(a) of this title, the Commissioner may make such examinations of any branch established and maintained in this state pursuant to chapter 205 of this title by a state financial institution as the Commissioner may deem necessary to determine whether the branch is being operated in compliance with the laws of this State and in accordance with safe and sound banking practices. The provisions of sections 18, 19, 11501, 11502, and 11503 of this title shall apply to such examinations.(b) The Commissioner may enter into contracts with any financial institution supervisory agency that has concurrent jurisdiction over a Vermont financial institution or a state financial institution maintaining a branch, agency, office, or location in this State to engage the services of such supervisory agency's examiners, or to provide the services of the Commissioner's examiners to such supervisory agency.(c) The Commissioner may enter into joint examinations or joint enforcement actions with other supervisory agencies having concurrent jurisdiction over any branch, agency, office, or location established and maintained in this State by a state financial institution or any branch, agency, office, or location located in any host state that is established and maintained by a Vermont financial institution; provided, that the Commissioner may at any time take such actions independently if the Commissioner deems such actions to be necessary or appropriate to carry out his or her responsibilities under this title or to ensure compliance with the laws of this State; but provided further, that, in the case of a financial institution that has its principal place of business in a state other than this State, the Commissioner shall recognize the exclusive authority of the home state regulator over organizational governance matters and the primary responsibility of the home state regulator with respect to safety and soundness matters. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
8 V.S.A. § 11505
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11505. Cooperative and other agreements

§ 11505. Cooperative and other agreements|(a) The Commissioner may enter into cooperative, coordinating, and information-sharing agreements with any other governmental agency, the Federal Home Loan Bank, or any organization affiliated with or representing one or more governmental agencies with respect to the periodic examination or other supervision of any activity, branch, agency, office, or location in this State of a state financial institution, or any activity or branch of a Vermont financial institution located in any host state. Such agreements may be used to resolve conflicts arising from inconsistent regulatory requirements and to specify the manner in which any application process under section 15201 or 15202 of this title shall be coordinated.(b) Agreements under this section may also be entered with nonbank regulatory agencies on matters affecting financial institutions organized or doing business in this State. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2017, No. 1, § 2, eff. Feb. 23, 2017.)
8 V.S.A. § 11602
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 201 - Supervision; Definitions|§ 11602. Power of Commissioner to impose corrective action

§ 11602. Power of Commissioner to impose corrective action|(a) The Commissioner may, in addition to any other power exercisable by the Commissioner under the provisions in this title, require a Vermont financial institution or state financial institution with a branch in this State to:  (1) maintain its accounts in accordance with such regulations as he or she may prescribe having regard to the size of the organization; (2) observe methods and standards which he or she 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 the financial institutions' investment policy or an order of the Commissioner; (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 financial institution 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; and (9) maintain adequate insurance against such other risks as the Commissioner may deem necessary and appropriate for the protection of depositors and the public.   (b) Any order of the Commissioner issued under this section shall be subject to subsection 11601(c) of this title. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)