§ 19311 - Order to discontinue unauthorized practices - Vermont Statutes

§ 19311. Order to discontinue unauthorized practices

Whenever it appears to the commissioner from the examination made by him or her, or from any report made to him or her, that a Vermont financial institution has committed a violation of its charter or of law, or is conducting its business and affairs in an unsafe or unauthorized manner, or that it or any of its officers have failed to comply with all the rules, restrictions and conditions provided by law, including the rules and requirements of the commissioner made in conformity to law, the commissioner shall, by a written order delivered to the treasurer of such organization and the offending officer or officers, direct such organization and such officer or officers to discontinue such illegal, unsafe or unauthorized practices or conduct, and to proceed in strict conformity with the requirements of law. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)