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Searching 2021-2022 Session

The Vermont Statutes Online


Title 9 : Commerce and Trade


(Cite as: 9 V.S.A. § 2386)
  • § 2386. Option to accelerate at will

    Any term of an agricultural finance lease providing that a party or a successor in interest may accelerate payment or performance, or require collateral or additional collateral "at will" or "when he or she deems himself or herself insecure," or in words of similar import, shall be construed to mean that the party may do so only if he or she in good faith believes that the prospect of payment or performance is impaired. The burden of establishing good faith shall be on the party who exercised the power. (Added 1989, No. 284 (Adj. Sess.), § 1; amended 2011, No. 136 (Adj. Sess.), § 1, eff. May 18, 2012.)