The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 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.
Title 27 : Property
Chapter 018 : Unclaimed Property
Subchapter 006 : Taking Custody of Property by Administrator
(Cite as: 27 V.S.A. § 1511)-
§ 1511. Definition of good faith
In this subchapter, payment or delivery of property is made in good faith if a holder:
(1) had a reasonable basis for believing, based on the facts then known, that the property was required or permitted to be paid or delivered to the Administrator under this chapter; or
(2) made payment or delivery:
(A) in response to a demand by the Administrator or Administrator’s agent; or
(B) under a guidance or ruling issued by the Administrator that the holder reasonably believed required or permitted the property to be paid or delivered. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
