The text below is not official; please refer to the PDF for the original document and authoritative text.

PACE Reserve Fund

Friday, January 6, 2012
Banking Bulletin #35

Effective January 1, 2012, pursuant to 24 V.S.A. §3269(c) and (d), the Commissioner of the Department of Banking, Insurance, Securities and Health Care Administration has determined, until further notice, that every PACE participant will contribute 2.0 percent of the original PACE assessment to the municipality’s Reserve Fund or a Reserve Fund managed by an agent for the municipality.


                                                                                                Stephen W. Kimbell, Commissioner

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