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.
(Cite as: 8 V.S.A. § 2901)
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§ 2901. License required
(a) No person shall act as a third party loan servicer, directly or indirectly, for a
loan to a Vermont borrower without first obtaining a license under this chapter from
the Commissioner.
(b) No license shall be required of:
(1) a depository institution;
(2) a lender licensed under chapter 73 of this title that retains the servicing rights
on a loan originally closed in the lender’s name and subsequently sold in whole or
in part to a third party, provided that the provisions of sections 2916 (segregated
accounts) and 2922 (prohibited acts and practices) of this title shall apply to such
lender;
(3) a debt adjuster licensed in this State;
(4) an attorney licensed in this State when collecting a debt on behalf of a client; or
(5) bona fide nonprofit organizations, exempt from taxation under Section 501(c) of the Internal Revenue Code, that are approved by the Department of Housing and Urban Development as housing
counseling agencies, that have a physical location in Vermont, and that lend state
or federal funds.
(c) This chapter shall not apply to commercial loans. (Added 2009, No. 96 (Adj. Sess.), § 1, eff. Jan. 1, 2011.)