Vermont Statutes Title 27 Sec. 1593
Terms Used In Vermont Statutes Title 27 Sec. 1593
- Administrator: means the Vermont State Treasurer. See
- Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. 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
- 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
- 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
- State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U. See
§ 1593. Action involving another state or foreign country
(a) The Administrator may join another state or foreign country to examine and seek enforcement of this chapter against a putative holder.
(b) On request of another state or foreign country, the Vermont Attorney General may commence an action on behalf of the other state or country to enforce, in this State, the law of the other state or country against a putative holder subject to a claim by the other state or country, if the other state or country agrees to pay costs incurred by the Attorney General in the action.
(c) The Administrator may request the official authorized to enforce the unclaimed property law of another state or foreign country to commence an action to recover property in the other state or country on behalf of the Administrator. This State shall pay the costs, including reasonable attorney’s fees and expenses, incurred by the other state or foreign country in an action under this subsection.
(d) The Administrator may pursue an action on behalf of this State to recover property subject to this chapter but delivered to the custody of another state if the Administrator believes the property is subject to the custody of the Administrator.
(e) The Administrator may retain an attorney in this State, another state, or a foreign country to commence an action to recover property on behalf of the Administrator and may agree to pay attorney’s fees based in whole or in part on a fixed fee, hourly fee, or a percentage of the amount or value of property recovered in the action.
(f) Expenses incurred by this State in an action under this section may be paid from property received under this chapter or the net proceeds of the property. Expenses paid to recover property may not be deducted from the amount that is subject to a claim under this chapter by the owner. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)