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

(S.227)

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


www.leg.state.vt.us