Pension loans

08 V.S.A. ch. 073, § 2245, under Chapter 073: Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies.

08 V.S.A. ch. 073, § 2245

§ 2245. Pension loans

Any person who engages in the business of offering consideration in exchange for a secured interest in all or part of pension proceeds in the possession of a participant, beneficiary, or member of a pension plan, program, or system shall be deemed to be engaged in the business of making loans pursuant to subdivision 2201(a)(1) of this chapter and shall be subject to 9 V.S.A. chapters 4 and 63. (Added 2013, No. 109 (Adj. Sess.), § 2.)