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: 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.)