Vermont Statutes Title 27 Sec. 1554
Terms Used In Vermont Statutes Title 27 Sec. 1554
- Administrator: means the Vermont State Treasurer. See
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Owner: means a person that has a legal, beneficial, or equitable interest in property subject to this chapter or the person's legal representative when acting on behalf of the owner. 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
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See
§ 1554. When Administrator must honor claim for property
(a) The Administrator shall pay or deliver property to a claimant under subsection 1553(a) of this title if the Administrator receives evidence sufficient to establish to the satisfaction of the Administrator that the claimant is the owner of the property.
(b) Not later than 90 days after a claim is filed under subsection 903(a), the Administrator shall allow or deny the claim and give the claimant notice in a record of the decision.
(c) If the claim is denied under subsection (b) of this section:
(1) the Administrator shall inform the claimant of the reason for the denial and specify what additional evidence, if any, is required for the claim to be allowed;
(2) the claimant may file an amended claim with the Administrator or commence an action under section 1556 of this title; and
(3) the Administrator shall consider an amended claim filed under subdivision (2) of this subsection as an initial claim.
(d) If the Administrator does not take action on a claim during the 90-day period following the filing of a claim under subsection 1553(a) of this title, the claim is deemed denied. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)