Vermont Statutes Title 27 Sec. 1543
Terms Used In Vermont Statutes Title 27 Sec. 1543
- Administrator: means the Vermont State Treasurer. See
- 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
- 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
§ 1543. Expenses and service charges of Administrator
Before making a deposit of funds received under this chapter to the General Fund, the Administrator may deduct:
(1) expenses of disposition of property delivered to the Administrator under this chapter;
(2) costs of mailing and publication in connection with property delivered to the Administrator under this chapter;
(3) reasonable service charges;
(4) expenses incurred in examining records of or collecting property from a putative holder or holder; and
(5) property valued at $100.00 or less more than 10 years after the abandoned property was received from the holder under subchapter 6 of this chapter shall be paid by the Administrator into the Vermont Higher Education Endowment Trust Fund created by 16 V.S.A. § 2885 under authority of this subdivision. For purposes of this subdivision, the value of the abandoned property shall be that value as of the date the property was received from the holder by the Administrator. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)