reglab/housing_qa huggingface dataset:
9 V.S.A. § 103
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 4 - Interest|§ 103. Residential real estate loans

§ 103. Residential real estate loans|(a) For any fixed-rate loan, secured by a lien against real estate, used or to be used by the borrower as a residence, the rate of interest and other terms of the loan shall be for the duration of the loan at no more than the rate and terms established in the commitment letter for the loan by the lender, whether or not conditioned on future actions or events, and not the date of execution or closing of the transaction, unless specifically disclosed to and agreed to by the borrower on the date the commitment letter issues. The provisions of section 50 of this title shall apply to any violation of this section.(b) For any variable-rate loan, secured by a lien against real estate used or to be used by the borrower as a residence, the lender shall disclose any introductory discount or similar reduction from the index or other measure fixing the rate or other terms of the loan at the time the loan commitment letter issues. Any subsequent adjustment above the initial amount discounted, not disclosed as provided in this subsection, shall have no legal force and effect.(c) The Commissioner of Financial Regulation may adopt rules specifying the form, content, and timing of commitment letters required by this section. The Commissioner may order any person to make restitution to any person injured as a result of a violation of this subchapter and may impose an administrative penalty of up to $1,000.00 for a violation of this subchapter. The Commissioner may order any person to cease violating this subchapter. (Added 1985, No. 131 (Adj. Sess.); amended 1997, No. 98 (Adj. Sess.), § 6, eff. April 16, 1998; 2015, No. 23, § 88.)
9 V.S.A. § 104
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 4 - Interest|§ 104. High rate loans

§ 104. High rate loans|(a) The Commissioner may adopt disclosure rules for loans secured by a first lien on residential real estate in which the borrower is expected to be charged in excess of four points or interest in excess of three percent over the rate established pursuant to 32 V.S.A. § 3108, or both, on the loan. The rules may provide for restrictions on representations by the lender regarding the disclosures required by the rules.(b) The Commissioner shall notify all mortgage lenders of the interest rate determined under 32 V.S.A. § 3108 annually.(c) The Commissioner may impose an administrative penalty of not more than $5,000.00 on any person that fails to comply with the provisions of this section. The Commissioner may order a lender to refund any discount points or other charges paid by a borrower who has not received disclosures required by the rule. (Added 1997, No. 98 (Adj. Sess.), § 7, eff. April 16, 1998; amended 2015, No. 23, § 89.)
9 V.S.A. § 201
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 4 - Interest|§ 201. Definitions

§ 201. Definitions|As used in this subchapter:  (1) "Disbursement of loan funds" means the delivery of the loan funds by the lender to the settlement agent in one or more of the following forms:  (A) cash; (B) wired funds or electronic transfer; (C) certified check; (D) checks issued by a governmental entity or instrumentality; (E) cashier's check, teller's check, or any transfer of funds by check or otherwise that is fully collected and unconditionally available to the settlement agent; (F) checks or other drafts issued by a state-chartered or federally chartered financial institution; checks or other drafts issued by a state-chartered or federally chartered credit union; and (G) checks issued by an insurance company licensed in the State of Vermont.  (2) "Disbursement of the settlement proceeds" means the payment of all proceeds of the transaction by the settlement agent to the persons or accounts designated to receive the proceeds. (3) "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. (4) "Loan closing" means the time a borrower executes any loan document or becomes contractually obligated on a credit transaction, whichever occurs sooner. (5) "Loan documents" means the note evidencing the debt due the lender, the mortgage securing the debt due the lender, and any other documents required by the lender to be executed by the borrower as part of the transaction. (6) "Loan funds" means the proceeds of the loan to be disbursed by the lender to others at closing. (7) "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. "Parties," as used in this subdivision, means the seller, purchaser, borrower, lender, and settlement agent. (8) "Settlement agent" means the person responsible for conducting the settlement and disbursement of the settlement proceeds, and includes an individual, corporation, partnership, or other entity conducting the settlement and disbursement of the settlement proceeds. The lender may be the settlement agent. (Added 2001, No. 55, § 2.)
9 V.S.A. § 202
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 4 - Interest|§ 202. Applicability

§ 202. Applicability|This subchapter applies only to transactions involving loans made by lenders, which loans are secured by a first lien on owner-occupied one-to-four-unit residential real estate, including first and second homes. (Added 2001, No. 55, § 2.)
9 V.S.A. § 203
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 4 - Interest|§ 203. Duty of lender

§ 203. Duty of lender|(a) The lender shall, at or before the loan closing, cause disbursement of loan funds to the settlement agent; however, in the case of a refinancing, or any other loan where a right of rescission applies but has not been exercised, the lender shall, prior to 2:00 p.m. Eastern Standard Time of the first business day after the expiration of the rescission period required under the federal Truth-in-Lending Act (15 U.S.C. § 1601 et seq.), cause disbursement of loan funds to the settlement agent.(b) If the lender is acting as settlement agent, the lender shall cause disbursement of the settlement proceeds at the loan closing, or, for any other loan where a right of rescission applies, the lender shall cause disbursement of the settlement proceeds on the first business day after the expiration of the rescission period.(c) The lender shall not be entitled to receive or charge any interest on the loan until disbursement of the settlement proceeds. (Added 2001, No. 55, § 2.)
9 V.S.A. § 204
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 4 - Interest|§ 204. Duty of settlement agent that is not a lender

§ 204. Duty of settlement agent that is not a lender|A settlement agent that has received the loan funds from the lender shall cause disbursement of settlement proceeds at the loan closing, or, for any other loan where a right of rescission applies, the settlement agent shall cause disbursement of the settlement proceeds on the first business day after the expiration of the rescission period. (Added 2001, No. 55, § 2.)
9 V.S.A. § 205
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 4 - Interest|§ 205. Commissioner's powers

§ 205. Commissioner's powers|(a) The Commissioner may:  (1) impose an administrative penalty of not more than $1,000.00 for each violation upon any person who violates or participates in the violation of this subchapter, or any lawful regulation or order issued thereunder; (2) order any person to make restitution to any person injured as a result of a violation of this subchapter; and (3) order any person to cease and desist in any specified conduct.   (b) The powers vested in the Commissioner by this subchapter shall be in addition to any other powers to enforce any penalties, fines, or forfeitures authorized by law. (Added 2001, No. 55, § 2.)
9 V.S.A. § 206
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 4 - Interest|§ 206. Consumer remedies

§ 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.)
9 V.S.A. § 270
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 20 - Uniform Electronic Transactions Act|§ 270. Short title

§ 270. Short title|This chapter may be cited as the Uniform Electronic Transactions Act. (Added 2003, No. 44, § 1, eff. Jan. 1, 2004.)
9 V.S.A. § 272
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 20 - Uniform Electronic Transactions Act|§ 272. Scope

§ 272. Scope|(a) Except as otherwise provided in subsections (b) and (c) of this section, this chapter applies to electronic records and electronic signatures relating to a transaction.(b) This chapter does not apply to:  (1) a transaction to the extent it is governed by a law governing the creation and execution of wills, codicils, or testamentary trusts; (2) a transaction to the extent it is governed by a state statute, regulation, or other rule of law governing adoption, divorce, or other matters of family law; (3) a transaction to the extent it is governed by the Uniform Commercial Code, other than 9A V.S.A. §§ 1-107 and 1-206, Article 2, and Article 2A; (4) court orders or notices, or official court documents, including briefs, pleadings, and other writings, required to be executed in connection with court proceedings; or (5) any notice of:  (A) the cancellation or termination of utility services (including water, heat, and power); (B) default, acceleration, repossession, foreclosure, or eviction, or the right to cure, under a credit agreement secured by, or a rental agreement for, a primary residence of an individual; (C) the cancellation or termination of health insurance or benefits or life insurance benefits (excluding annuities); (D) recall of a product, or material failure of a product, that risks endangering health or safety; or (E) a right to cancel a home solicitation sale required pursuant to section 2454 of this title;  (6) any document required to accompany any transportation or handling of hazardous materials, pesticides, or other toxic or dangerous materials.   (c) This chapter applies to an electronic record or electronic signature otherwise excluded from the application of this chapter under subsection (b) of this section to the extent that it is governed by a law other than those specified in subsection (b).(d) A transaction subject to this chapter is also subject to other applicable substantive law. (Added 2003, No. 44, § 1, eff. Jan. 1, 2004; amended 2019, No. 131 (Adj. Sess.), § 9.)
9 V.S.A. § 273
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 20 - Uniform Electronic Transactions Act|§ 273. Prospective application

§ 273. Prospective application|This chapter applies to any electronic record or electronic signature created, generated, sent, communicated, received, or stored on or after January 1, 2004. (Added 2003, No. 44, § 1, eff. Jan. 1, 2004.)
9 V.S.A. § 274
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 20 - Uniform Electronic Transactions Act|§ 274. Use of electronic records and electronic signatures; variation by agreement

§ 274. Use of electronic records and electronic signatures; variation by agreement|(a) This chapter does not require a record or signature to be created, generated, sent, communicated, received, stored, or otherwise processed or used by electronic means or in electronic form.(b) This chapter applies only to transactions between parties, each of which has agreed to conduct transactions by electronic means. Whether the parties agree to conduct a transaction by electronic means is determined from the context and surrounding circumstances, including the parties' conduct.(c) A party that agrees to conduct a transaction by electronic means may refuse to conduct other transactions by electronic means. This subsection may not be waived by agreement.(d) Except as otherwise provided in this chapter, the effect of any of its provisions may be varied by agreement. The presence in certain provisions of this chapter of the words "unless otherwise agreed," or words of similar import, does not imply that the effect of other provisions may not be varied by agreement.(e) Whether an electronic record or electronic signature has legal consequences is determined by this chapter and other applicable law. (Added 2003, No. 44, § 1, eff. Jan. 1, 2004.)
9 V.S.A. § 275
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 20 - Uniform Electronic Transactions Act|§ 275. Construction and application

§ 275. Construction and application|This chapter must be construed and applied:  (1) to facilitate electronic transactions consistent with other applicable law; (2) to be consistent with reasonable practices concerning electronic transactions and with the continued expansion of those practices; and (3) to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it. (Added 2003, No. 44, § 1, eff. Jan. 1, 2004.)
9 V.S.A. § 276
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 20 - Uniform Electronic Transactions Act|§ 276. Legal recognition of electronic records, electronic signatures, and electronic contracts

§ 276. Legal recognition of electronic records, electronic signatures, and electronic contracts|(a) A record or signature may not be denied legal effect or enforceability solely because it is in electronic form.(b) A contract may not be denied legal effect or enforceability solely because an electronic record was used in its formation.(c) If a law requires a record to be in writing, an electronic record satisfies the law.(d) If a law requires a signature, an electronic signature satisfies the law. (Added 2003, No. 44, § 1, eff. Jan. 1, 2004.)
9 V.S.A. § 277
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 20 - Uniform Electronic Transactions Act|§ 277. Provision of information in writing; presentation of records

§ 277. Provision of information in writing; presentation of records|(a) If parties have agreed to conduct a transaction by electronic means and a law requires a person to provide, send, or deliver information in writing to another person, the requirement is satisfied if the information is provided, sent, or delivered, as the case may be, in an electronic record capable of retention by the recipient at the time of receipt. An electronic record is not capable of retention by the recipient if the sender or its information processing system inhibits the ability of the recipient to print or store the electronic record.(b) If a law other than this chapter requires a record to be posted or displayed in a certain manner, to be sent, communicated, or transmitted by a specified method, or to contain information that is formatted in a certain manner, the following rules apply:  (1) The record must be posted or displayed in the manner specified in the other law. (2) Except as otherwise provided in subdivision (d)(2) of this section, the record must be sent, communicated, or transmitted by the method specified in the other law. (3) The record must contain the information formatted in the manner specified in the other law.   (c) If a sender inhibits the ability of a recipient to store or print an electronic record, the electronic record is not enforceable against the recipient.(d) The requirements of this section may not be varied by agreement, but:  (1) to the extent a law other than this chapter requires information to be provided, sent, or delivered in writing but permits that requirement to be varied by agreement, the requirement under subsection (a) of this section that the information be in the form of an electronic record capable of retention may also be varied by agreement; and (2) a requirement under a law other than this chapter to send, communicate, or transmit a record by first-class mail may be varied by agreement to the extent permitted by the other law. (Added 2003, No. 44, § 1, eff. Jan. 1, 2004.)
9 V.S.A. § 278
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 20 - Uniform Electronic Transactions Act|§ 278. Attribution and effect of electronic record and electronic signature

§ 278. Attribution and effect of electronic record and electronic signature|(a) An electronic record or electronic signature is attributable to a person if it was the act of the person. The act of the person may be shown in any manner, including a showing of the efficacy of any security procedure applied to determine the person to which the electronic record or electronic signature was attributable.(b) The effect of an electronic record or electronic signature attributed to a person under subsection (a) of this section is determined from the context and surrounding circumstances at the time of its creation, execution, or adoption, including the parties' agreement, if any, and otherwise as provided by law. (Added 2003, No. 44, § 1, eff. Jan. 1, 2004.)
9 V.S.A. § 279
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 20 - Uniform Electronic Transactions Act|§ 279. Effect of change or error

§ 279. Effect of change or error|If a change or error in an electronic record occurs in a transmission between parties to a transaction, the following rules apply:  (1) If the parties have agreed to use a security procedure to detect changes or errors and one party has conformed to the procedure, but the other party has not, and the nonconforming party would have detected the change or error had that party also conformed, the conforming party may avoid the effect of the changed or erroneous electronic record. (2) In an automated transaction involving an individual, the individual may avoid the effect of an electronic record that resulted from an error made by the individual or on the part of the individual in dealing with the electronic agent of another person if the electronic agent did not provide an opportunity for the prevention or correction of the error and, at the time the individual learns of the error, the individual:  (A) promptly notifies the other person of the error and that the individual did not intend to be bound by the electronic record received by the other person; (B) takes reasonable steps, including steps that conform to the other person's reasonable instructions, to return to the other person or, if instructed by the other person, to destroy the consideration received, if any, as a result of the erroneous electronic record; and (C) has not used or received any benefit or value from the consideration, if any, received from the other person.  (3) If neither subdivision (1) nor (2) of this section applies, the change or error has the effect provided by other law, including the law of mistake, and the parties' contract, if any. (4) Subdivisions (2) and (3) of this section may not be varied by agreement. (Added 2003, No. 44, § 1, eff. Jan. 1, 2004.)
9 V.S.A. § 280
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 20 - Uniform Electronic Transactions Act|§ 280. Notarization and acknowledgment

§ 280. Notarization and acknowledgment|If a law requires a signature or record to be notarized, acknowledged, verified, or made under oath, the requirement is satisfied if the electronic signature of the person authorized to perform those acts, together with all other information required to be included by other applicable law, is attached to or logically associated with the signature or record. (Added 2003, No. 44, § 1, eff. Jan. 1, 2004.)
9 V.S.A. § 281
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 20 - Uniform Electronic Transactions Act|§ 281. Retention of electronic records; originals

§ 281. Retention of electronic records; originals|(a) If a law requires that a record be retained, the requirement is satisfied by retaining an electronic record of the information in the record that:  (1) accurately reflects the information set forth in the record at the time and after it was first generated in its final form as an electronic record or otherwise; and (2) remains accessible to all persons who are entitled to access by statute, regulation, or rule of law, for the period required by such statute, regulation, or rule of law, in a form that is capable of being accurately reproduced for later reference, whether by transmission, printing, or otherwise.   (b) A requirement to retain a record in accordance with subsection (a) of this section does not apply to any information, the sole purpose of which is to enable the record to be sent, communicated, or received.(c) A person may satisfy subsection (a) of this section by using the services of another person if the requirements of that subsection are satisfied.(d) If a law requires a record to be presented or retained in its original form, or provides consequences if the record is not presented or retained in its original form, that law is satisfied by an electronic record retained in accordance with subsection (a) of this section.(e) If a law requires retention of a check, that requirement is satisfied by retention of an electronic record of the information on the front and back of the check in accordance with subsection (a) of this section.(f) A record retained as an electronic record in accordance with subsection (a) of this section satisfies a law requiring a person to retain a record for evidentiary, audit, or like purposes, unless a law enacted after January 1, 2004 specifically prohibits the use of an electronic record for the specified purpose.(g) This section does not preclude a governmental agency of this State from specifying additional requirements for the retention of a record subject to the agency's jurisdiction. (Added 2003, No. 44, § 1, eff. Jan. 1, 2004.)
9 V.S.A. § 282
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 20 - Uniform Electronic Transactions Act|§ 282. Admissibility in evidence

§ 282. Admissibility in evidence|In a proceeding, evidence of a record or signature may not be excluded solely because it is in electronic form. (Added 2003, No. 44, § 1, eff. Jan. 1, 2004.)
9 V.S.A. § 283
2021 Vermont Statutes|Title 9 - Commerce and Trade|Chapter 20 - Uniform Electronic Transactions Act|§ 283. Automated transaction

§ 283. Automated transaction|In an automated transaction, the following rules apply:  (1) A contract may be formed by the interaction of electronic agents of the parties, even if no individual was aware of or reviewed the electronic agents' actions or the resulting terms and agreements. (2) A contract may be formed by the interaction of an electronic agent and an individual, acting on the individual's own behalf or for another person, including by an interaction in which the individual performs actions that the individual is free to refuse to perform and which the individual knows or has reason to know will cause the electronic agent to complete the transaction or performance. (3) The terms of the contract are determined by the substantive law applicable to it. (Added 2003, No. 44, § 1, eff. Jan. 1, 2004.)