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.
Subchapter
002
:
ASSESSMENT OF DAMAGES CAUSED BY FLOATING LUMBER
(Cite as: 25 V.S.A. § 245)
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§ 245. Bond of foreign corporation
A foreign corporation, before driving or floating any logs, lumber, or other timber
in any stream in this State, shall file in the Office of the Secretary of State for
the benefit of the owners of land adjoining any stream used by such corporation, a
good and sufficient bond to be approved by the Secretary and in such sum as he or
she directs. Such bond shall be given to the Secretary as trustee of the corporation,
for each and all of the riparian owners, and shall be conditioned for the payment
of all damages and compensation awarded by the Commission and any judgment rendered
by any court from which an appeal has not been taken. Upon breach of the condition
of such bond, the Secretary, upon application by a riparian owner whose award by the
Commission or judgment remains unpaid for more than 30 days, shall institute proceedings
thereon in his or her name as trustee for the benefit of all landowners to whom such
corporation may be indebted, as hereinbefore provided, at the time such proceedings
shall be instituted. (Amended 1959, No. 329 (Adj. Sess.), § 39(b), eff. March 1, 1961.)