Vermont Statutes Title 27 Sec. 1566
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Terms Used In Vermont Statutes Title 27 Sec. 1566
- Administrator: means the Vermont State Treasurer. See
- Person: means an individual, estate, business association, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. 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
§ 1566. Failure of person examined to retain records
If a person subject to examination under section 1562 of this title does not retain the records required by section 1494 of this title, the Administrator may determine the value of property due using a reasonable method of estimation based on all information available to the Administrator, including extrapolation and use of statistical sampling when appropriate and necessary, consistent with examination procedures and standards adopted under subsection 1563(a) of this title and in accord with subsection 1563(b) of this title. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)