Vermont Statutes Title 8 Sec. 31601
Terms Used In Vermont Statutes Title 8 Sec. 31601
- National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 31601. Share insurance
(a) Every credit union authorized to do business in this State under this title shall ensure its members’ shares with the National Credit Union Administration (NCUA) or the successor to that federal agency.
(b) A credit union insured under this section shall have the duty and power to comply with all statutes and regulations governing insurance of shares by the NCUA, provided that nothing contained in this section shall be construed as repealing, modifying, or impairing any powers, duties, rights, or responsibilities of the Commissioner, or the credit union so insured, under the provisions of this title. (Added 2005, No. 16, § 1, eff. July 1, 2005.)