Vermont Statutes Title 27 Sec. 1485
Terms Used In Vermont Statutes Title 27 Sec. 1485
- Administrator: means the Vermont State Treasurer. See
- Apparent owner: means a person whose name appears on the records of a holder as the owner of property held, issued, or owing by the holder. See
- Domicile: means :
- Holder: means a person obligated to hold for the account of, or to deliver or pay to, the owner, property subject to this chapter. See
- Person: means an individual, estate, business association, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. See
- Property: means tangible property described in section 1465 of this title or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality. See
- State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U. See
§ 1485. Custody if transaction took place in this State
Except as in section 1482, 1483, or 1484 of this title, the Administrator may take custody of property presumed abandoned whether located in this State or another state if:
(1) the transaction out of which the property arose took place in this State;
(2) the holder is domiciled in a state that does not provide for the custodial taking of the property, except that if the property is specifically exempt from custodial taking under the law of the state of the holder’s domicile, the property is not subject to the custody of the Administrator; and
(3) the last-known address of the apparent owner or other person entitled to the property is unknown or in a state that does not provide for the custodial taking of the property, except that if the property is specifically exempt from custodial taking under the law of the state of the last-known address, the property is not subject to the custody of the Administrator. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)