Vermont Statutes Title 9 Sec. 4025
Terms Used In Vermont Statutes Title 9 Sec. 4025
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- 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
- 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.
- 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
§ 4025. Claims, enforcement
(a) In the event the company defaults in performing its obligations under this chapter, all rightful holders of trading stamps of the company shall be entitled to make claim against the bond filed under subdivision 4024(a)(2) of this title. Retailers in possession of trading stamps for issuance to their customers shall also be deemed rightful holders entitled to make a claim.
(b) If the company defaults in the performance of its obligation to redeem trading stamps, any rightful holder may file, within three months after the default, a complaint in the Washington Superior Court. Upon the filing of a complaint, the presiding judge shall, upon 14 days’ notice in writing sent by certified mail to the company, summarily hear and forthwith make a determination whether there has been a default. If the presiding judge determines that there has been a default, he or she shall give notice of the determination to the company and if the default is not corrected within 14 days, he or she shall order the clerk of the court to publish notice of the default in three consecutive publications of one or more newspapers having general circulation throughout this State and therein require that proof of all claims for redemption of the trading stamps of the company shall be filed with the court, together with the trading stamps upon which the claim is based, within three months after the date of the first publication. Promptly after the expiration of that period, the court shall determine the validity of all claims so filed. Thereupon, the court shall be paid by the surety such amount as shall be necessary to satisfy all valid claims so filed, not exceeding, however, the principal sum of the bond. Upon the failure to pay the amount demanded, the court shall notify the Attorney General who shall bring an action in a court of record, to recover the amount demanded. Upon payment or recovery of the amount demanded, the clerk of the court shall promptly thereafter make an equitable distribution of the proceeds of the bond to the claimants and shall promptly destroy the trading stamps so surrendered. (Added 1959, No. 240, § 5, eff. Sept. 1, 1959; amended 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974; 2017, No. 11, § 9.)