Vermont Statutes Title 27 Sec. 1572
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Terms Used In Vermont Statutes Title 27 Sec. 1572
- 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
- Putative holder: means a person believed by the Administrator to be a holder, until the person pays or delivers to the Administrator property subject to this chapter or the Administrator or a court makes a final determination that the person is or is not a holder. 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
§ 1572. Determination of liability for unreported reportable property
If the Administrator determines from an examination conducted under section 1562 of this title that a putative holder failed or refused to pay or deliver to the Administrator property that is reportable under this chapter, the Administrator shall issue a determination of the putative holder‘s liability to pay or deliver and give notice in a record to the putative holder of the determination. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)