§ 4672 - -Withdrawal or transfer - Vermont Statutes

§ 4672. -Withdrawal or transfer

Moneys in the reserve fund or the revenue bond reserve fund at any time in excess of such fund's required debt service reserve, whether by reason of investment or otherwise, may, subject to the terms of any contract between the bank and its bondholders or any resolution of the bank, be withdrawn at any time by the bank and transferred to any other fund or account of the bank. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970; amended 1987, No. 55, § 21, eff. May 15, 1987.)