The Court shall thereupon issue a notice to the treasurer and executive officer of such Vermont financial institution to appear at a time and place therein named and show cause why a receiver should not be appointed. If sufficient cause is not shown, the Court shall appoint a receiver to take charge of the property and effects of the financial institution, who shall be subject to the Superior Court. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)