Vermont Statutes Title 27 Sec. 1551
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Terms Used In Vermont Statutes Title 27 Sec. 1551
- 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
- State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U. See
§ 1551. Claim of another state to recover property
(a) If the Administrator knows that property held by the Administrator under this chapter is subject to a superior claim of another state, the Administrator shall:
(1) report and pay or deliver the property to the other state; or
(2) return the property to the holder so that the holder may pay or deliver the property to the other state.
(b) The Administrator is not required to enter into an agreement to transfer property to the other state under subsection (a) of this section. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)