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Searching 2019-2020 Session

The Vermont Statutes Online


Title 11B : Nonprofit Corporations

Chapter 014 : DISSOLUTION

Subchapter 004 : MISCELLANEOUS

(Cite as: 11B V.S.A. § 14.40)
  • § 14.40. Deposit with State Treasurer

    Assets of a dissolved corporation that should be transferred to a creditor, claimant, or member of the corporation who cannot be found or who is not competent to receive them shall be reduced to cash subject to known trust restrictions and deposited with the State Treasurer for safekeeping; provided, however, that in the State Treasurer's discretion property may be received and held in kind. When the creditor, claimant, or member furnishes satisfactory proof of entitlement to the amount deposited or property held in kind, the State Treasurer shall deliver to the creditor, member, or other person or his or her representative that amount or property. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)