The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
§ 2151. Nature and form of assignment
An assignment of property, including choses in action, by a debtor for the benefit
of creditors shall be in writing and signed by the debtor. If real estate is assigned,
it shall be by deed, executed and recorded in the same manner as a conveyance of real
estate. Such assignment shall be for the benefit of all the creditors of the assignor
in proportion to their respective claims. An assignment shall not be valid against
a creditor of the assignor if the assignee is a creditor or interested in the provisions
of the assignment.
§ 2152. Schedule; list of creditors
Assignments shall be specific and accompanied by a full inventory or schedule of the
property assigned, including choses in action, and with a list of the creditors to
be benefited by the assignment and the sums due each one as near as may be.
§ 2153. Copy of assignment to be filed
The assignor and assignee shall file in the clerk’s office in the county where the
assignor resides, and also where the property assigned is situated at the time of
making such assignment, a copy of the assignment and inventory, including choses in
action, and of the list of creditors to be benefited by the assignment, to remain
on file for the use and inspection of persons interested.
§ 2154. Assignee’s bond
The assignee shall execute to the Superior Court for the unit in which the assignor
resides a bond with sureties to the satisfaction of such court and conditioned for
the faithful performance of such trust. The assignee shall execute such bond at the
time of making such assignment, and the same may be prosecuted by parties aggrieved
as provided in 14 V.S.A. chapter 101, relative to bonds governed by that chapter. (Amended 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974; 2009, No. 154 (Adj. Sess.), § 60.)
§ 2155. Failure to file copy of assignment or to execute bond
Unless such copies are filed as directed in section 2153 of this title and such bond is executed as directed in section 2154 of this title, the property so assigned shall be liable to trustee process and to attachment and
execution at the suit of the creditors of the assignor, as if an assignment had not
been made.
§ 2156. Assignee’s duties
The assignee shall proceed with reasonable dispatch in the discharge of his or her
trust to the completion of the same. When completed, he or she shall file with the
clerk of such Superior Court a copy of the settlement of his or her trust account
showing in detail how he or she has administered the trust, which account shall be
verified by the oath of the assignee as a true and just account, and the same shall
remain on file in such office for the inspection of the creditors of the assignor. (Amended 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974.)
§ 2157. Application to Superior judge for settlement of account by assignee
If, in the opinion of a creditor of the assignor named in the assignment, the assignee
neglects to settle his or her trust and file a copy of his or her account with the
county clerk for an unreasonable length of time, such creditor may apply to a Superior
judge for an order upon the assignee to settle the same and file with the clerk of
such court a copy of his or her trust account verified by oath within such time as
the Superior judge deems proper.
§ 2158. Powers of Superior judge
The Superior judge may hear such application upon notice being given to the assignee,
make necessary orders in the premises, and allow or refuse costs upon such application
and hearing as he or she thinks equitable. He or she shall enforce the orders made
by him or her according to the usages of a Superior Court and proceed against the
assignee for a disobedience to the order of the Superior judge as for a contempt.