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. § 14211)
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§ 14211. Claims not clearly consistent
If any claim not clearly consistent with the terms of any applicable authority on
file with a financial institution is made to any deposit, safe deposit box, property
held in safekeeping, security, obligation, or other property in the financial institution’s
possession or control, in whole or in part, by any person, including any depositor,
individual, or group of individuals, whether or not authorized to draw on or exercise
any right or control with respect to the property, the financial institution is not
required to recognize the claim without one of the following:
(1) a court order, issued by a court of competent jurisdiction and served on the financial
institution, enjoining or restraining the financial institution from taking any action
with respect to the property or instructing the financial institution to pay the balance
of the account, provide access to the safe deposit box, or deliver the property as
provided in the order; or
(2) a bond in the form and amount and with sureties satisfactory to the financial institution,
indemnifying the financial institution against any liabilities, loss, and expenses
it might incur because of its recognition of the claim or because of its refusal,
due to the claim, to honor or recognize any right with respect to the property. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)