(a) The provisions of subchapters 1 through 4 of this chapter apply to Vermont financial institutions. The provisions of subchapters 2, 3, and 4 of this chapter shall also apply to independent trust companies organized and regulated under chapter 77 of this title as if they were financial institutions.

(b) The provisions of subchapter 5 of this chapter shall apply to state financial institutions doing business in this State. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)