§ 690a - Nonprofit revolving loan funds - Vermont Statutes

§ 690a. Nonprofit revolving loan funds

(a) Any revolving loan fund lender not required to be licensed pursuant to section 2201(c)(8) of Title 8 shall register and maintain its registration with the commissioner of economic development, on forms and by policy and methods prescribed by the commissioner. The commissioner shall require such lenders to pay an annual fee of not more than $50.00 to maintain their registration.

(b) Fees collected under this section shall be credited to a special fund established and managed pursuant to chapter 7, subchapter 5 of Title 32, and shall be available to the department of economic development to offset the costs of providing those services. (Added 1995, No. 162 (Adj. Sess.), § 40, eff. Jan. 1, 1997; amended 1997, No. 59, § 32, eff. June 30, 1997.)