PocketLaw | Vermont Statutes | Powers Of Financial Institutions

Powers Of Financial Institutions

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Applicability of chapter

General organizational powers

Advertising; doing business or using name unlawfully

Capital or surplus requirements

Participation in public agencies

Expanded powers of Vermont financial institutions

Investments

Prohibited mergers and acquisitions

Prohibited management interlocks

Duties of executive officers, directors, and persons who control principal equity interests in financial institutions; officers may not receive fees

Deposit powers

Payment of deposits to administrators from another state or country

Trust deposits; payment on death of trustee

Joint deposits

Payable on death accounts

Deposits of minors; exemption from trustee process

Provisions when title to deposit is litigated

Security for deposits

Examination of accounts

Real estate trust and escrow

Claims not clearly consistent

Joint fiduciary accounts

Loan authority

Real estate loans

Bank credit cards

Card holder represented by legal counsel

Types of trust functions

National financial institutions; state financial institutions

Approval of Commissioner

Security

Powers and duties of officers

Segregation of trust funds; exception

Collective investment funds

Registration and sale of securities

Disposition of securities upon court order; liability for acts of nominee

Fiduciary investments

Failure to pay rent; removal of contents