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
006
:
TAKING CUSTODY OF PROPERTY BY ADMINISTRATOR
(Cite as: 27 V.S.A. § 1512)
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§ 1512. Dormancy charge
(a) A holder may deduct a dormancy charge from property required to be paid or delivered
to the Administrator if:
(1) a valid contract between the holder and the apparent owner authorizes imposition of
the charge for the apparent owner’s failure to claim the property within a specified
time; and
(2) the holder regularly imposes the charge and regularly does not reverse or otherwise
cancel the charge.
(b) The amount of the deduction under subsection (a) is limited to an amount that is not
unconscionable considering all relevant factors, including the marginal transactional
costs incurred by the holder in maintaining the apparent owner’s property and any
services received by the apparent owner. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)