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. § 8-203)
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§ 8—203. Staleness as notice of defect or defense
After an act or event, other than a call that has been revoked, creating a right to
immediate performance of the principal obligation represented by a certificated security
or setting a date on or after which the security is to be presented or surrendered
for redemption or exchange, a purchaser is charged with notice of any defect in its
issue or defense of the issuer, if the act or event:
(1) requires the payment of money, the delivery of a certificated security, the registration
of transfer of an uncertificated security, or any of them on presentation or surrender
of the security certificate, the money or security is available on the date set for
payment or exchange, and the purchaser takes the security more than one year after
that date; or
(2) is not covered by subdivision (1) of this section and the purchaser takes the security
more than two years after the date set for surrender or presentation or the date on
which performance became due. (Added 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)