The Vermont Statutes Online
The Vermont Statutes Online does not include the actions of the 2024 session of the General Assembly. We expect them to be updated by November 1st.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 9 : Commerce and Trade
Chapter 004 : Interest
Subchapter 001 : Interest Generally
(Cite as: 9 V.S.A. § 48)-
§ 48. Excess insurance, proceeds
If a loan is paid before its due date as the result of the death of a borrower insured under a creditor life insurance policy and the insurance proceeds exceed the amount owing on the loan with interest, the excess shall be refunded to a beneficiary designated by the borrower, or to the estate of the insured, or applied in reduction of the debt. (Added 1967, No. 377 (Adj. Sess.), eff. March 26, 1968.)
