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Vermont CU Bill Heads to Commerce Committee for Mark Up

MONTPELIER, Vt. - Members of the Vermont House Commerce Committee are scheduled to meet April 2 to review the proposed bill that would recodify the state's credit union statute and determine whether components will be passed or dropped, and if additional items will be added. The recodified statute seeks to...

By Staff Writer | Updated on April 06, 2004

MONTPELIER, Vt. – Members of the Vermont House Commerce Committee are scheduled to meet April 2 to review the proposed bill that would recodify the state’s credit union statute and determine whether components will be passed or dropped, and if additional items will be added. The recodified statute seeks to bring parity between state and federal charters, as well as clarifies regulator authorities and modernizes financial statutes. Once the committee bill is finalized, it will go before the Vermont House Ways and Means Committee. Despite the scheduled end of the legislative session in mid-May, Vermont Credit Union League President Joe Bergeron anticipates that a final resolution may be near. “Once a proposal is passed through its original committee, it frequently moves very quickly,” he said.

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