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Searching 2023-2024 Session

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.)