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
002
:
DEPOSITS IN GENERAL
(Cite as: 8 V.S.A. § 14207)
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§ 14207. Provisions when title to deposit is litigated
(a) Multiple claims. In actions against a financial institution by one spouse to recover for monies deposited
by the other spouse in the latter’s own name, the depositing spouse may be a witness.
In actions against such financial institution to recover for money on deposit, if
there is a person, whether married or not, claiming the same fund, who is not a party
to the action, the court, on the petition of such financial institution and on such
notice as it considers proper to the plaintiff and such claimant, may order the proceedings
to be amended by making such claimant a party defendant. The court shall thereupon
hear and determine the rights and interests of the parties to such action in and to
such fund.
(b) Litigated deposits; payment into court; costs. The deposits that are the subject of such action may remain with such financial institution
upon the same interest as other deposits of like amount, until final judgment in the
action, and the same shall be paid by such financial institution in accordance with
the order of the court, or the deposits may be paid into court to await the final
determination of the action. When so paid into court, the financial institution shall
no longer be a party to such action, and its liability for such deposit shall cease.
The costs in such action shall be in the discretion of the court and may be charged
upon the fund affected by the action. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2021, No. 105 (Adj. Sess.), § 295, eff. July 1, 2022.)