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: 9A V.S.A. § 7-601)
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§ 7—601. Lost, stolen, or destroyed documents of title
(a) If a document of title is lost, stolen, or destroyed, a court may order delivery of
the goods or issuance of a substitute document and the bailee may without liability
to any person comply with the order. If the document was negotiable, a court may not
order delivery of the goods or issuance of a substitute document without the claimant’s
posting security unless it finds that any person that may suffer loss as a result
of nonsurrender of possession or control of the document is adequately protected against
the loss. If the document was nonnegotiable, the court may require security. The court
may also order payment of the bailee’s reasonable costs and attorney’s fees in any
action under this subsection.
(b) A bailee that, without a court order, delivers goods to a person claiming under a
missing negotiable document of title is liable to any person injured thereby. If the
delivery is not in good faith, the bailee is liable for conversion. Delivery in good
faith is not conversion if the claimant posts security with the bailee in an amount
at least double the value of the goods at the time of posting to indemnify any person
injured by the delivery which files a notice of claim within one year after the delivery. (Added 2015, No. 51, § B.3, eff. June 3, 2015.)