Terms Used In Vermont Statutes > Title 27 > Chapter 18 - Unclaimed Property

• ABLE account: means an account established by an eligible individual, owned by the eligible individual, and maintained under the Vermont ABLE Savings Program. See
• Administrator: means the Vermont State Treasurer. See
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Allegation: something that someone says happened.
• Annual meeting: when applied to towns shall mean the annual town meeting in March or an adjournment thereof. See
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Apparent owner: means a person whose name appears on the records of a holder as the owner of property held, issued, or owing by the holder. See
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Balance bill: means to charge to or collect from a Medicare or General Assistance beneficiary any amount in excess of the reasonable charge for that service as determined by the U. See
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Business association: means a corporation; joint stock company; investment company other than an investment company registered under the Investment Company Act of 1940, as may be amended, 15 U. See
• Commissioner: means the Commissioner of Disabilities, Aging, and Independent Living. See
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Confidential information: means records, reports, and information that are confidential under section 1612 of this title. See
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department: means the Department of Disabilities, Aging, and Independent Living. See
• Designated beneficiary: means the eligible individual who establishes an ABLE account under this chapter and is the owner of the account. See
• Disability certification: means a certification to the satisfaction of the Secretary by the individual or the parent or guardian of the individual that:

• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Domestic: when applied to a corporation, company, association, or copartnership shall mean organized under the laws of this State; "foreign" when so applied, shall mean organized under the laws of another state, government, or country. See
• Domicile: means :

• Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See
• Electronic mail: means a communication by electronic means that is automatically retained and stored and may be readily accessed or retrieved. See
• Eligible individual: means :

• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• 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.
• Executor: A male person named in a will to carry out the decedent
• Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
• Fiduciary: A trustee, executor, or administrator.
• Financial organization: means a savings and loan association, building and loan association, savings bank, industrial bank, bank, banking organization, or credit union. See
• Financial organization: means an organization that is authorized to do business in this State and that is:

• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Fraud: Intentional deception resulting in injury to another.
• Game-related digital content: means digital content that exists only in an electronic game or electronic-game platform. See
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Gift card: means :

• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.
• 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
• home- and community-based services: includes all home-based services and Enhanced Residential Care. See
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Insurance company: means an association, corporation, or fraternal or mutual-benefit organization, whether or not for profit, engaged in the business of providing life endowments, annuities, or insurance, including accident, burial, casualty, credit-life, contract-performance, dental, disability, fidelity, fire, health, hospitalization, illness, life, malpractice, marine, mortgage, surety, wage-protection, and workers' compensation insurance. See
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Long-term care: means services and supports received by an individual in a long-term care facility or provided to an individual through the Choices for Care program contained within Vermont's Global Commitment to Health Section 1115 demonstration. See
• Long-term care facility: means a residential care home, an assisted living residence or nursing home as defined by section 7102 of this title, or any other similar adult care home that is licensed or required to be licensed pursuant to chapter 71 of this title. See
• Loyalty card: means a record given without direct monetary consideration under an award, reward, benefit, loyalty, incentive, rebate, or promotional program that may be used or redeemed only to obtain goods or services or a discount on goods or services. See
• Medicaid: means the medical assistance program authorized under chapter 19 of this title. See
• Medicare: means the health insurance programs authorized under Title XVIII of the Social Security Act. See
• Medicare beneficiary: means a person who is a beneficiary of health insurance under Title XVIII of the Social Security Act. See
• Mineral: means gas, oil, coal, oil shale, other gaseous liquid or solid hydrocarbon, cement material, sand and gravel, road material, building stone, chemical raw material, gemstone, fissionable and nonfissionable ores, colloidal and other clay, steam and other geothermal resources, and any other substance defined as a mineral by law of this State other than this chapter. See
• Mineral proceeds: means an amount payable for extraction, production, or sale of minerals, or, on the abandonment of the amount, an amount that becomes payable after abandonment. See
• Money order: means a payment order for a specified amount of money. See
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Municipal bond: means a bond or evidence of indebtedness issued by a municipality or other political subdivision of a state. See
• Municipality: shall include a city, town, town school district, incorporated school or fire district or incorporated village, and all other governmental incorporated units. See
• Net card value: means the original purchase price or original issued value of a stored-value card, plus amounts added to the original price or value, minus amounts used and any service charge, fee, or dormancy charge permitted by law. See
• Non-freely transferable security: means a security that cannot be delivered to the Administrator by the Depository Trust Clearing Corporation or similar custodian of securities providing post-trade clearing and settlement services to financial markets or cannot be delivered because there is no agent to effect transfer. See
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Office: means the Office of the State Long-Term Care Ombudsman. See
• Older person: means an individual who is 60 years of age or older. See
• Ombudsman: means the individual selected from among individuals with expertise and experience in the fields of long-term care and advocacy who heads the Office of the State Long-Term Care Ombudsman and is responsible personally, or through representatives of the Office, to fulfill the functions, responsibilities, and duties set forth in 45 C. See
• Oversight: Committee review of the activities of a Federal agency or program.
• 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
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Payroll card: means a record that evidences a payroll-card account as defined in Regulation E, 12 C. See
• Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
• Person: means an individual, estate, business association, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. See
• personal information: means :

• Personal property: All property that is not real property.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
• Probate: Proving a will
• 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
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• 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
• real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• 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
• representatives of the Office: means the employees or volunteers designated by the State Long-Term Care Ombudsman to carry out the duties of the Office, regardless of whether supervision is provided by the Ombudsman, his or her designee, or an agency hosting a local Ombudsman entity designated by the Ombudsman. See
• Resident: means an older person or an individual with disabilities who is 18 years of age or older who resides in a long-term care facility or receives long-term care through the Choices for Care program contained within Vermont's Global Commitment to Health Section 1115 demonstration. See
• Resident representative: means any of the following:

• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• road: shall include bridges thereon and their approaches. See
• said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See
• Savings: means the difference remaining at the conclusion of each fiscal year between the amount of funds appropriated for Choices for Care and the sum of expended and obligated funds, less an amount equal to one percent of that fiscal year's total Choices for Care expenditure. See
• Secretary: means the Secretary of the U. See
• Security: means :

• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
• State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U. See
• Statute: A law passed by a legislature.
• Stored-value card: means a record evidencing a promise made for consideration by the seller or issuer of the record that goods, services, or money will be provided to the owner of the record to the value or amount shown in the record. See
• Subpoena: A command to a witness to appear and give testimony.
• Summons: Another word for subpoena used by the criminal justice system.
• sworn: shall include affirmed. See
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See
• Trustee: A person or institution holding and administering property in trust.
• Utility: means a person that owns or operates for public use a plant, equipment, real property, franchise, or license for the following public services:

• Village: shall mean an incorporated village. See
• Virtual currency: means a digital representation of value used as a medium of exchange, unit of account, or store of value that does not have legal tender status recognized by the United States. See
• Willful interference: means an individual's action taken or failure to act in an intentional attempt to prevent, interfere with, or impede the Ombudsman or a representative of the Office from performing any of his or her functions, responsibilities, or duties. See
• Worthless security: means a security whose cost of liquidation and delivery to the Administrator would exceed the value of the security on the date a report is due under this chapter. See