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. § 1520)
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§ 1520. Periods of limitation and repose
(a) Expiration, before, on, or after January 1, 2021, of a period of limitation on an
owner’s right to receive or recover property, whether specified by contract, statute,
or court order, does not prevent the property from being presumed abandoned or affect
the duty of a holder under this chapter to file a report or pay or deliver property
to the Administrator.
(b) The Administrator may not commence an action or proceeding to enforce this chapter
with respect to the reporting, payment, or delivery of property more than five years
after the holder filed a non-fraudulent report under section 1491 of this title with the Administrator. The parties may agree in a record to extend the limitation
in this subsection.
(c) The Administrator may not commence an action, proceeding, or examination with respect
to a duty of a holder under this chapter more than 10 years after the duty arose. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)