Vermont Statutes Title 8 Sec. 30703
Terms Used In Vermont Statutes Title 8 Sec. 30703
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
§ 30703. Criminal penalties
(a) It shall be a criminal offense, punishable by a fine of not more than $1,000.00 or imprisonment of not more than one year, or both, for any person to violate any existing order of the Commissioner or, after receipt of a removal order or an order assessing a penalty, to perform any duty or exercise any power of or on behalf of any credit union until the penalty has been satisfied, or otherwise satisfactorily resolved between the parties, or the removal or penalty order is vacated by the Commissioner or by a court of competent jurisdiction.
(b) It shall be a criminal offense, punishable by a fine of not more than $10,000.00 or imprisonment of not more than one year, or both, for any person to violate willfully any existing order of the Commissioner or, after receipt of a removal order or an order assessing a penalty, to perform willfully any duty or exercise any power of or on behalf of any credit union until the penalty has been satisfied, or otherwise satisfactorily resolved between the parties, or the removal or penalty order is vacated by the Commissioner or by a court of competent jurisdiction.
(c) An executive officer, director, or an appointed or elected member of a credit union committee subject to the laws of this State under this title who willfully misapplies any of the monies, funds, or credits of such credit union or any of the monies, funds, assets, or securities entrusted to the care of such credit union, or to the care or custody of such executive officer, director, or member, shall be fined not more than $100,000.00 or imprisoned not more than five years, or both. (Added 2005, No. 16, § 1, eff. July 1, 2005.)