Vermont Bill Would Rewrite CUStatute

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MONTPELIER, Vt. - (02/11/04) -- State lawmakers introduced a creditunion reform bill this week that would clarify the parityprovisions in the state statute and allow Vermont's 32 statechartered credit unions to make member business loans for the firsttime. The bill is almost identical to the one that died in lastyear's legislature. The measure would also allow state charters tobranch interstate for the first time. The bill was drafted by thestate's banking commissioner.

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