Compliance with Federal Laws and Regulations

V.S.A. tit. 8, ch. 200, subch. 6

in effect

8 V.S.A. § 10601 Application

10601. Application This subchapter shall apply to any person licensed, chartered, or otherwise authorized, or required to be licensed, chartered, or otherwise authorized, under Part 2, 4, or 5 of this title. Added 2005, No. 18, § 1; amended 2015, No. 128 (Adj. Sess.), § F.2, eff. May 24, 2016; 2025, No. 142 (Adj. Sess.), § 29, eff. July 1, 2026.

8 V.S.A. § 10602 Compliance with federal laws and regulations

10602. Compliance with federal laws and regulations (a) All persons subject to this subchapter shall comply with all applicable requirements of the Truth in Lending Act of 1968, Pub. L. No. 90-321, Title I and Regulation Z, 12 C.F.R. Part 1026; the Real Estate Settlement Procedures Act of 1974, Pub. L. No. 93-533 and Regulation X, 12 C.F.R. Part 1024; and the Bank Secrecy Act of 1970, Pub. L. No. 91-508 and 31 C.F.R. Chapter X, as now or hereafter amended. (b) The Commissioner may make such investigations and examinations to enforce the provisions of this subchapter as the Commissioner deems necessary or appropriate and may take any appropriate actions against any person whom the Commissioner has reason to believe has violated or is in violation of this subchapter. Added 2005, No. 18, § 1; amended 2011, No. 21, § 2, eff. May 11, 2011; 2019, No. 20, § 103.

8 V.S.A. § 10603 Penalty

10603. Penalty The Commissioner, in addition to using any other power exercisable by the Commissioner under this title, may: (1) impose an administrative penalty of not more than $1,000.00 for each violation upon any person who violates or participates in a violation of any law or regulation described in this subchapter; (2) impose an administrative penalty in an amount greater than the amount prescribed in subdivision (1) of this section if a greater amount is prescribed in the federal law or regulation violated; (3) order any person to make restitution to any person injured as a result of any violation of this subchapter; and (4) order any person to cease violating this subchapter. Added 2005, No. 18, § 1.

Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/chapter/08/200Fetched: 10/21/2026