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Can you summarize 8 VTST Chapter 222?
Banking and Insurance > Powers
Short Summary
The provided legal document content covers various aspects related to Vermont credit unions. It outlines the general powers and abilities of Vermont credit unions, including making contracts, offering financial services, lending funds, and establishing credit union service organizations. The document also applies certain provisions of the Vermont Statutes to credit unions, such as those related to trust deposits, joint fiduciary accounts, real estate loans, and safe deposit boxes. It further governs member business loans, participation in loans to credit union members, and the establishment, operation, and regulation of Credit Union Service Organizations (CUSOs) in Vermont. The document does not mention any specific exemptions or penalties related to these provisions.
Whom does it apply to?
Vermont credit unions, financial institutions as defined in subdivision 11101(32) of the Vermont Statutes, credit union members, credit union organizations, other state or federally chartered credit unions, and other federally insured financial institutions.
What does it govern?
The legal document outlines the general powers and abilities of Vermont credit unions, the application of certain provisions of the Vermont Statutes to credit unions, real estate loans, member business loans, participation in loans to credit union members, safe deposit boxes for credit unions, and the establishment, operation, and regulation of Credit Union Service Organizations (CUSOs) in Vermont.
What are exemptions?
No specific exemptions are mentioned in the provided legal document content.
What are the Penalties?
No specific penalties are mentioned in the provided legal document content.
Jurisdiction
Vermont