Vermont Statutes Title 9 Sec. 206
Terms Used In Vermont Statutes Title 9 Sec. 206
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- 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.
- Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
- Lender: means any person who is in the business of making loans secured by a mortgage on real estate and to whom the debt is initially payable on the face of the loan documents. See
- Loan closing: means the time a borrower executes any loan document or becomes contractually obligated on a credit transaction, whichever occurs sooner. See
- Settlement: means the time when the settlement agent has received the loan funds, loan documents, and other documents and funds to carry out the terms of the contract between the parties, and the settlement agent reasonably determines that all conditions of such contracts have been satisfied. See
- 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.
§ 206. Consumer remedies
(a) A lender or settlement agent who violates any provision of this subchapter and causes actual damage to a consumer is subject to a civil action by the aggrieved consumer in which the consumer has the right to recover the greater of actual damages in an amount determined by the court or, except as provided in subsection (b) of this section, an amount determined by the court of not less than $250.00 nor more than $1,000.00, plus costs of the action, together with reasonable attorney’s fees.
(b) Liability under subsection (a) of this section is limited to actual damages, plus costs of the action, together with reasonable attorney’s fees, if the lender or settlement agent shows by a preponderance of the evidence that the violation was not intentional and resulted from a bona fide error notwithstanding the maintenance of procedures reasonably adopted to avoid any such error.
(c) An action may not be brought pursuant to this section more than two years after the loan closing has occurred. (Added 2001, No. 55, § 2.)