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.
Subchapter
004
:
AUTHORIZED DELEGATES OF MONEY TRANSMITTERS
(Cite as: 8 V.S.A. § 2528)
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§ 2528. Private actions against authorized delegates
(a) Distinct from the Commissioner’s authority over licensees and authorized delegates,
any court in this State with jurisdiction over a private civil action brought by a
licensee against an authorized delegate shall have the ability to grant appropriate
equitable or legal relief, including prohibiting the authorized delegate from directly
or indirectly acting as an authorized delegate for any licensee in this State and
the payment of restitution, damages, or other monetary relief, if the court finds
that an authorized delegate failed to remit money in accordance with the written contract
required by subsection 2525(b) of this chapter or as otherwise directed by the licensee
or required by law.
(b) If the court issues an order prohibiting a person from acting as an authorized delegate
for any licensee pursuant to subsection (a) of this section, the licensee that brought
the action shall report the order to the Commissioner within 30 days and shall report
the order through NMLS within 90 days. (Added 2023, No. 110 (Adj. Sess.), § 42, eff. July 1, 2024.)