§ 11503.
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/vt/title-8/chapter-201/11503A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 11503. Examinations by federal regulatory agencies; departmental participation
Where an examination is normally conducted by the Department jointly with a federal regulatory authority, the Commissioner, at such times as the Commissioner deems necessary or appropriate because of departmental fiscal restraints, may reduce or eliminate the Department’s participation in such examination. Where the Commissioner determines such reductions are necessary or appropriate, the Commissioner is authorized to rely on the examination report of the federal regulatory authority as the basis for exercising his or her powers and discharging his or her responsibilities under this title. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)