{"data":{"id":"us-vt/8-v.s.a.-14109","jurisdiction":"us-vt","citation":"8 V.S.A. § 14109","heading":"Prohibited management interlocks","body":"A director or officer of a Vermont financial institution shall not at the same time be a director or officer of another financial institution engaged in the business of banking in the State of Vermont or a state contiguous to Vermont. The terms of this section shall not apply to:\n(1) a financial institution that is in liquidation, receivership, conservatorship or similar proceedings;\n(2) the Federal Reserve Bank of Boston;\n(3) a financial institution affiliated by reason of common ownership or control of at least 25 percent of the voting interests of such affiliated financial institutions; or\n(4) any other relationship otherwise permitted under interagency guidelines or regulations of federal supervisory authorities adopted from time to time, relating to management interlocks.","path":["Title 8: Banking and Insurance","Chapter 204: Powers of Financial Institutions","Subchapter 001: GENERAL POWERS"],"source_url":"https://legislature.vermont.gov/statutes/section/08/204/14109","current_through":"2025 session","vintage":"","retrieved_at":"2026-09-05T14:05:21Z","sha256":"5e8cc362c8a567227ac9874cb6b10a506664fb896bf526801f811916ae5d4bc7","source_id":"us-vt","stale":false,"prev":"us-vt/8-v.s.a.-14108","next":"us-vt/8-v.s.a.-14110"},"notice":"GroundRules: Original legal text. Not legal advice."}