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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 8 : Banking and Insurance

Chapter 073 : LICENSED LENDERS, MORTGAGE BROKERS, MORTGAGE LOAN ORIGINATORS, SALES FINANCE COMPANIES, AND LOAN SOLICITATION COMPANIES

(Cite as: 8 V.S.A. § 2236a)
  • § 2236a. Extent of assignment; service upon employer

    Under any such assignment or order for the payment of future salary, wages, commissions, or other compensation for services given as security for a loan made by any licensee under this chapter, a sum not to exceed 10 percent of the borrower's salary, wages, commissions, or other compensation for services shall be collectible from the employer of the borrower by the licensee at the time of each payment to the borrower of such salary, wages, commissions, or other compensation for services, from the time that a copy of such assignment, verified by the oath of the licensee or the licensee's agent, together with a similarly verified statement of the amount unpaid upon such loan, is served upon the employer. (Amended 2009, No. 29, § 1.)