reglab/housing_qa huggingface dataset:
8 V.S.A. § 2707
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 81 - Gift Certificates|§ 2707. Exemption

§ 2707. Exemption|Except as provided in this section, the provisions of this chapter shall not apply to the following:  (1) a loyalty, award, or promotional gift certificate where no money or other thing of value is given in exchange for the gift certificate, provided that the gift certificate complies with section 2702a of this title; (2) the promotional value of a loyalty, award, or promotional gift certificate issued in exchange for paid value, provided that the gift certificate complies with sections 2702 and 2702a of this title; (3) a gift certificate donated to a charitable organization and used for fund-raising activities of a charitable organization, without any money or other thing of value being given in exchange for the gift certificate by the charitable organization, provided that the expiration date is clearly and legibly printed on the gift certificate; (4) prepaid calling cards issued solely to provide an access number and authorization code for prepaid calling services; (5) a season pass, a discount ski card, or a record sold for admission to any seasonal recreational activity; or (6) a payroll card account issued pursuant to and in full compliance with 21 V.S.A. § 342(c). (Added 2005, No. 39, § 1; amended 2009, No. 115 (Adj. Sess.), § 2, eff. May 21, 2010; 2011, No. 136 (Adj. Sess.), § 7, eff. May 18, 2012.)
8 V.S.A. § 2708
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 81 - Gift Certificates|§ 2708. Investigations and complaints; powers of Commissioner

§ 2708. Investigations and complaints; powers of Commissioner|If the Commissioner has reason to believe that any person has violated any of the provisions of this chapter, the Commissioner may make such investigation as the Commissioner shall deem necessary, and, to the extent necessary for this purpose, the Commissioner's authorized representative may examine such person and shall have the power to compel the production of all relevant books, records, and documents. (Added 2005, No. 39, § 1.)
8 V.S.A. § 2709
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 81 - Gift Certificates|§ 2709. Vermont Consumer Protection Act

§ 2709. Vermont Consumer Protection Act|(a) A violation of this chapter shall be deemed also a violation of the Vermont Consumer Protection Act, 9 V.S.A. chapter 63, provided that the Commissioner's determinations concerning the interpretation and administration of the provisions of this chapter and any rules adopted under this chapter shall carry a presumption of validity as to financial institutions, credit unions, and all persons licensed or required to be licensed under this title.(b) A consumer may bring a private action under this chapter or under 9 V.S.A. chapter 63 for any violation of this chapter. (Added 2005, No. 39, § 1; amended 2011, No. 109 (Adj. Sess.), § 3, eff. May 8, 2012; 2011, No. 136 (Adj. Sess.), § 1b, eff. May 18, 2012.)
8 V.S.A. § 2710
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 81 - Gift Certificates|§ 2710. Enforcement

§ 2710. Enforcement|(a) The Commissioner may enforce compliance with the requirements of this chapter with respect to financial institutions as defined in subdivision 11101(32) of this title, credit unions, and all persons and entities licensed or required to be licensed under this title.(b) The Attorney General shall cooperate and consult with the Commissioner prior to the commencement of any investigation or enforcement action with respect to any person or entity described in subsection (a) of this section.(c) Nothing contained in subsection (a) or (b) of this section shall prohibit the Commissioner and the Attorney General from bringing a joint enforcement action against any person or entity described in subsection (a) for a violation of this chapter. (Added 2005, No. 39, § 1.)
8 V.S.A. § 2711
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 81 - Gift Certificates|§ 2711. Rules

§ 2711. Rules|(a) The Commissioner may adopt such rules as are necessary to carry out the purposes of this chapter with respect to financial institutions, credit unions, and all persons and entities licensed or required to be licensed under this title.(b) The Attorney General may adopt such rules as are necessary to carry out the purposes of this chapter with respect to all persons and entities other than financial institutions, credit unions, and all persons or entities licensed or required to be licensed under this title. (Added 2005, No. 39, § 1.)
8 V.S.A. § 2751
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 83 - Debt Adjusters|§ 2751. Definitions

§ 2751. Definitions|As used in this chapter, "debt adjustment" means making an agreement with a debtor whereby the debt adjuster agrees to distribute, supervise, coordinate, negotiate, or control the distribution of money or evidences thereof among one or more of the debtor's creditors in full or partial payment of obligations of the debtor and includes services as an intermediary between a debtor and one or more of the debtor's creditors for the purpose of obtaining concessions. Debt adjustment also includes any program or strategy in which the debt adjuster furnishes services to a debtor which includes a proposed or actual payment or schedule of payments to be made by or on behalf of the debtor and is used to pay debt owed by the debtor. For purposes of this chapter, engaging in debt adjustment in this State shall include:  (1) soliciting debt adjustment business from within this State, whether by mail, by telephone, by electronic means, or by other means regardless of whether the debtor resides within this State or outside this State; (2) soliciting debt adjustment business with an individual residing in this State, whether by mail, by telephone, by electronic means, or by other means; (3) entering into, or succeeding to, a debt adjustment contract with an individual residing in this State; or (4) providing, offering to provide, or agreeing to provide debt adjustment services directly or through others. (Added 1969, No. 204 (Adj. Sess.), eff. March 23, 1970; amended 2003, No. 81 (Adj. Sess.), § 1; 2005, No. 36, § 4, eff. June 1, 2005; 2009, No. 137 (Adj. Sess.), §§ 2, 3; 2011, No. 78 (Adj. Sess.), § 19, eff. April 2, 2012; 2019, No. 20, § 66.)
8 V.S.A. § 2752
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 83 - Debt Adjusters|§ 2752. License

§ 2752. License|No person shall engage in the business of debt adjustment except as authorized by this chapter and without first obtaining a license from the Commissioner. (Added 1969, No. 204 (Adj. Sess.), eff. March 23, 1970; amended 2003, No. 81 (Adj. Sess.), § 1; 2009, No. 137 (Adj. Sess.), § 3.)
8 V.S.A. § 2753
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 83 - Debt Adjusters|§ 2753. Application for license; additional information

§ 2753. Application for license; additional information|(a) In addition to the information required by section 2102 of this title, an application for a license under this chapter shall state or contain:  (1) A description of any debt adjustment and related services previously provided by the applicant. (2) The debt adjustment and related services that the applicant seeks to provide in this State. (3) A description of how the applicant will market its services, along with copies of all scripts, mailings, advertisements, and other marketing materials, provided that submission of these materials shall not waive any legal claim the State may have with respect to the content or use of the materials. (4) A description of the nature and amount of the fees, or the method of calculating the fees, charged to the debtor. (5) A list of the applicant's locations in this State and outside this State where the applicant proposes to engage Vermont residents in debt adjustment services. (6) A list of other states in which the applicant is licensed to engage in debt adjustment services and information concerning any bankruptcy or receivership proceedings affecting the licensee, and any license revocations, suspensions, or criminal or disciplinary action taken against the applicant in other states. (7) A blank copy of the contract the applicant intends to use. The applicant shall notify the Commissioner of all changes and amendments thereto. The terms and conditions of all contracts shall be subject to prior approval by the Commissioner. (8) The name and address of the federally insured financial institution through which the applicant maintains a separate account for the benefit of debtors.   (b) The Commissioner may waive one or more requirements of this section or permit an applicant to submit substituted information in lieu of the required information. (Added 1969, No. 204 (Adj. Sess.), eff. March 23, 1970; amended 2003, No. 81 (Adj. Sess.), § 1; 2009, No. 137 (Adj. Sess.), § 3; 2011, No. 78 (Adj. Sess.), § 20, eff. April 2, 2012; 2019, No. 20, § 67.)
8 V.S.A. § 2755
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 83 - Debt Adjusters|§ 2755. Bond required

§ 2755. Bond required|(a) Each applicant shall submit to the Commissioner, with the application for a license, a bond, in such form as the Commissioner shall direct, in the amount of $50,000.00, or such greater amount as the Commissioner may determine is required by the business circumstances of the applicant.(b) The bond shall be in a form and in accordance with such terms and conditions satisfactory to the Commissioner and payable to the State for use of the State and for the benefit of any claimant against the licensee to secure the faithful performance of the obligations of the licensee.(c) The Commissioner may require a larger bond if he or she determines, in his or her sole discretion, that a licensee has engaged in a pattern of conduct resulting in bona fide consumer complaints of misconduct and that such increased bond is necessary for the protection of consumers; or the Commissioner may increase or decrease the amount of such bond based upon the applicant's or licensee's financial condition, business plan, number of locations, and the actual or estimated aggregate amount of payments and fees paid by debtors under the debt adjustment contracts. (Added 1969, No. 204 (Adj. Sess.), eff. March 23, 1970; amended 2003, No. 81 (Adj. Sess.), § 1; 2009, No. 137 (Adj. Sess.), § 3.)
8 V.S.A. § 2757a
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 83 - Debt Adjusters|§ 2757a. Annual report; additional information

§ 2757a. Annual report; additional information|In addition to the information required by section 2120 of this title, the annual report shall state or contain:  (1) the number of new debt adjustment contracts entered into with Vermont residents during the preceding year, the number of Vermont residents that have completed the debt adjustment contract during the preceding year, the number of Vermont residents that have cancelled their debt adjustment contract during the preceding year, and the licensee's total number of debt adjustment contracts with Vermont residents; and (2) a list of the locations in this State and outside this State where the licensee engages in debt adjustment activities with Vermont residents. (Added 2003, No. 81 (Adj. Sess.), § 1; amended 2009, No. 137 (Adj. Sess.), § 3; 2019, No. 20, § 71.)
8 V.S.A. § 2759
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 83 - Debt Adjusters|§ 2759. Contract with debtor

§ 2759. Contract with debtor|(a) Prior to taking any fee or receiving any compensation, either directly or indirectly, or payment of any sum of money by the debtor, each licensee shall make a written contract between the licensee and the debtor, which contract shall be in such form and shall contain such conditions as the Commissioner shall have approved in writing prior to the use of such contract, and the licensee shall immediately furnish the debtor with a true copy of the contract.(b) In addition to such other items as the Commissioner may require, the contract shall:  (1) fully disclose all services to be provided; (2) fully disclose all fees to be charged to the debtor; (3) disclose that debt adjustment plans are not suitable for all debtors; (4) if applicable, disclose that creditors may compensate the licensee; (5) if applicable, disclose that secured debt is not covered by the contract; and (6) disclose a list of debts covered by the contract and the interest rate of those debts at the time. (Added 1969, No. 204 (Adj. Sess.), eff. March 23, 1970; amended 2003, No. 81 (Adj. Sess.), § 1; 2009, No. 137 (Adj. Sess.), § 3.)
8 V.S.A. § 2759b
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 83 - Debt Adjusters|§ 2759b. Cancellation of contract

§ 2759b. Cancellation of contract|A debtor may cancel a debt adjustment contract at any time without a cancellation premium or penalty. (Added 2003, No. 81 (Adj. Sess.), § 1; amended 2009, No. 137 (Adj. Sess.), § 3.)
8 V.S.A. § 2759c
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 83 - Debt Adjusters|§ 2759c. Periodic statements to debtor

§ 2759c. Periodic statements to debtor|Periodically, but not less frequently than quarterly, the licensee shall provide the debtor with a statement showing the payments made by the debtor, how such payments have been distributed, and for each debt covered by the contract:  (1) the beginning amount of such debt; (2) the current amount due on such debt; and (3) the basic terms of such debt. (Added 2003, No. 81 (Adj. Sess.), § 1; amended 2009, No. 137 (Adj. Sess.), § 3.)
8 V.S.A. § 2760
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 83 - Debt Adjusters|§ 2760. Separate bank account for the benefit of creditors; books and records

§ 2760. Separate bank account for the benefit of creditors; books and records|(a) Each licensee shall maintain a separate federally insured bank account for the benefit of debtors in which all payments received from debtors for the benefit of creditors shall be deposited and in which all payments shall remain until a remittance is made to either a debtor or a creditor.(b) Every licensee shall keep, and use in its business, books, accounts, and records which will enable the Commissioner to determine whether such licensee is complying with the provisions of this chapter and with the regulations of the Commissioner. Every licensee shall preserve such books, accounts, and records for at least seven years after making the final entry on any transaction recorded therein. The items specified in this subsection may be maintained in any form of record as permitted in subsection 11301(c) of this title. (Added 1969, No. 204 (Adj. Sess.), eff. March 23, 1970; amended 2003, No. 81 (Adj. Sess.), § 1; 2009, No. 137 (Adj. Sess.), § 3.)
8 V.S.A. § 2760a
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 83 - Debt Adjusters|§ 2760a. Timely payments to creditors

§ 2760a. Timely payments to creditors|Licensees shall make payments to creditors in a timely manner at least once every 30 days in accordance with the contract between the licensee and the debtor. (Added 2003, No. 81 (Adj. Sess.), § 1; amended 2009, No. 137 (Adj. Sess.), § 3.)
8 V.S.A. § 2760c
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 83 - Debt Adjusters|§ 2760c. Financial privacy

§ 2760c. Financial privacy|The licensee shall be subject to and shall comply with subchapter 2 of chapter 200 of this title and any rules or regulations adopted in connection therewith. (Added 2003, No. 81 (Adj. Sess.), § 1; amended 2009, No. 137 (Adj. Sess.), § 3.)
8 V.S.A. § 2761
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 83 - Debt Adjusters|§ 2761. Examinations

§ 2761. Examinations|The Commissioner shall examine or cause to be examined, with or without notice, the condition and affairs of each licensee under this chapter at least once every three years and otherwise as required or determined by the Commissioner. (Added 1969, No. 204 (Adj. Sess.), eff. March 23, 1970; amended 1979, No. 157 (Adj. Sess.), § 7; 1999, No. 153 (Adj. Sess.), § 26, eff. Jan. 1, 2001; 2003, No. 81 (Adj. Sess.), § 1; 2009, No. 137 (Adj. Sess.), § 3; 2011, No. 78 (Adj. Sess.), § 21, eff. April 2, 2012; 2019, No. 20, § 75.)
8 V.S.A. § 2762
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 83 - Debt Adjusters|§ 2762. Fee of licensee

§ 2762. Fee of licensee|The fee charged by the licensee shall be agreed upon in advance. The fee retained shall in no case exceed a $50.00 initial set up fee plus 10 percent of any payment received by the licensee from the debtor for the purpose of distribution to creditors. (Added 1969, No. 204 (Adj. Sess.), eff. March 23, 1970; amended 2003, No. 81 (Adj. Sess.), § 1; 2009, No. 137 (Adj. Sess.), § 3.)
8 V.S.A. § 2763
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 83 - Debt Adjusters|§ 2763. Exceptions

§ 2763. Exceptions|The provisions of this chapter shall not apply to the following:  (1) any attorney admitted to the practice of law in this State, when engaged in such practice; (2) any financial institution as defined in subdivision 11101(32) of this title or a lender licensed under chapter 73 of this title, which performs debt adjustment in the regular course of its principal business; (3) any person acting pursuant to any law of this State or of the United States or acting under the order of a court; (4) any bona fide nonprofit religious, fraternal, or cooperative organization offering debt adjustment services exclusively for members; (5) any employee of a licensee when acting in the regular course of his or her employment; and (6) a certified public accountant licensed in this State, when services are rendered in the course of his or her practice as a certified public accountant. (Added 1969, No. 204 (Adj. Sess.), eff. March 23, 1970; amended 2003, No. 81 (Adj. Sess.), § 1; 2009, No. 137 (Adj. Sess.), § 3.)
8 V.S.A. § 2764
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 83 - Debt Adjusters|§ 2764. Private right of action and consumer protection act

§ 2764. Private right of action and consumer protection act|(a) A consumer may bring a private action against a licensee or any person that should have been licensed under this chapter for restitution because of a violation of this chapter.(b) The powers vested in the Commissioner by this chapter shall be in addition to any other powers or rights of consumers or the Attorney General or others under any other applicable law or rule, including without limitation the Vermont Consumer Protection Act and any applicable rules issued in connection therewith, provided that the Commissioner's determinations concerning the interpretation and administration of the provisions of this chapter and any rules adopted thereunder shall carry a presumption of validity. (Added 1969, No. 204 (Adj. Sess.), eff. March 23, 1970; amended 1995, No. 167 (Adj. Sess.), § 21; 2003, No. 81 (Adj. Sess.), § 1; 2009, No. 137 (Adj. Sess.), § 3; 2011, No. 109 (Adj. Sess.), § 3, eff. May 8, 2012; 2011, No. 136 (Adj. Sess.), § 1b, eff. May 18, 2012; 2019, No. 20, § 76.)
8 V.S.A. § 2900
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 85 - Loan Servicers|§ 2900. Definitions

§ 2900. Definitions|As used in this chapter:  (1) "Loan" means a residential mortgage loan. (2) "Servicing" means receiving a scheduled periodic payment from a borrower pursuant to the terms of a loan, including amounts for escrow accounts, and making the payments to the owner of the loan or other third party of principal and interest and other payments with respect to the amounts received from the borrower as may be required pursuant to the terms of the servicing loan document or servicing contract. In the case of a home equity conversion mortgage or a reverse mortgage, servicing includes making payment to the borrower. (3) "Third party loan servicer" means a person who engages in the business of servicing a loan, directly or indirectly, owed or due or asserted to be owed or due another. (Added 2009, No. 96 (Adj. Sess.), § 1, eff. Jan. 1, 2011; amended 2011, No. 78 (Adj. Sess.), § 2, eff. April 2, 2012; 2019, No. 20, § 81.)
8 V.S.A. § 2901
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 85 - Loan Servicers|§ 2901. License required

§ 2901. License required|(a) No person shall act as a third party loan servicer, directly or indirectly, for a loan to a Vermont borrower without first obtaining a license under this chapter from the Commissioner.(b) No license shall be required of:  (1) a depository institution; (2) a lender licensed under chapter 73 of this title that retains the servicing rights on a loan originally closed in the lender's name and subsequently sold in whole or in part to a third party, provided that the provisions of sections 2916 (segregated accounts) and 2922 (prohibited acts and practices) of this title shall apply to such lender; (3) a debt adjuster licensed in this State; (4) an attorney licensed in this State when collecting a debt on behalf of a client; or (5) bona fide nonprofit organizations, exempt from taxation under Section 501(c) of the Internal Revenue Code, that are approved by the Department of Housing and Urban Development as housing counseling agencies, that have a physical location in Vermont, and that lend state or federal funds.   (c) This chapter shall not apply to commercial loans. (Added 2009, No. 96 (Adj. Sess.), § 1, eff. Jan. 1, 2011.)
8 V.S.A. § 2903
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 85 - Loan Servicers|§ 2903. Bond

§ 2903. Bond|(a) Prior to issuance of a license, the applicant shall file with the Commissioner and shall keep in force thereafter for as long as the license remains in effect, a bond in a form and substance to be approved by the Commissioner in which the applicant shall be the obligor, in the amount of $100,000.00 or in such sum as the Commissioner may require. The aggregate liability for any and all claims on any bond shall in no event exceed the sum thereof. No surety obligation on a bond shall be terminated unless at least 60 days' prior written notice is given by the surety to the obligor and the Commissioner. When one person is issued licenses to conduct the licensed activity at more than one office, the Commissioner may accept a single bond covering all such offices. The bond shall run to the State for the use of the State and of any person or persons who may have a cause of action against the obligor of such bond under the provisions of this chapter. Such bond shall be conditioned that the obligor will faithfully conform to and abide by the provisions of this chapter and of all rules and regulations lawfully made by the Commissioner hereunder, and will pay to the State and to any such person or persons any and all monies that may become due or owing to the State or to such person or persons from such obligor under and by virtue of the provisions of this chapter.(b) When an action is commenced on a licensee's bond, the Commissioner may require the filing of a new bond. Immediately upon recovery upon any action on the bond, the licensee shall file a new bond.(c) Notwithstanding subsections (a) and (b) of this section, the Commissioner may waive or modify the requirement for or the amount of a bond or accept other appropriate means of ensuring the financial responsibility of a licensee. (Added 2009, No. 96 (Adj. Sess.), § 1, eff. Jan. 1, 2011.)
8 V.S.A. § 2907
2021 Vermont Statutes|Title 8 - Banking and Insurance|Chapter 85 - Loan Servicers|§ 2907. Additional bond

§ 2907. Additional bond|If the Commissioner finds at any time that a licensee's bond is insecure, exhausted, insufficient, or otherwise doubtful, the Commissioner shall require one or more additional bonds meeting the standards set forth in section 2903 of this chapter. The licensee shall file the bond within 10 days of the Commissioner's written demand to do so. (Added 2009, No. 96 (Adj. Sess.), § 1, eff. Jan. 1, 2011.)