View the complete text of this act
ACT SUMMARY 2007-2008

SUMMARY OF THE 2008 ACTS AND RESOLVES View the complete text of this act

ACT NO. 159


Angel Investors

This act adds an exemption to the licensure requirement under 8 V.S.A. § 2201 for making a commercial loan. Specifically, the act allows a person to make an unsecured commercial loan without a license if the loan is expressly subordinate to the prior payment of all senior indebtedness of a commercial borrower, whether the senior indebtedness exists prior to or after the unsecured loan.

Effective Date: May 20, 2008.

Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont