Vermont Statutes Title 27 Sec. 1563
Terms Used In Vermont Statutes Title 27 Sec. 1563
- 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
- Person: means an individual, estate, business association, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. 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
§ 1563. Rules for conducting examination
(a) The Administrator shall adopt rules governing procedures and standards for an examination under section 1562 of this title, including rules for use of an estimation, extrapolation, and statistical sampling in conducting an examination.
(b) An examination under section 1562 of this title must be performed under rules adopted under subsection (a) of this section and with generally accepted examination practices and standards applicable to an unclaimed-property examination.
(c) If a person subject to examination under section 1562 of this title has filed the reports required under sections 1491 and 1561 of this title and has retained the records required by section 1494 of this title, the following rules apply:
(1) The examination must include a review of the person’s records.
(2) The examination may not be based on an estimate unless the person expressly consents in a record to the use of an estimate.
(3) The person conducting the examination shall consider the evidence presented in good faith by the person in preparing the findings of the examination under section 1567 of this title. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)