reglab/housing_qa huggingface dataset:
27 V.S.A. § 1501
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1501. Notice to apparent owner by holder

§ 1501. Notice to apparent owner by holder|(a) Subject to subsection (b) of this section, the holder of property presumed abandoned shall send to the apparent owner notice by first-class U.S. mail that complies with section 1502 of this title in a format acceptable to the Administrator not more than 180 days nor less than 60 days before filing the report under section 1491 of this title if:  (1) the holder has in its records an address for the apparent owner that the holder's records do not disclose to be invalid and is sufficient to direct the delivery of first-class U.S. mail to the apparent owner; and (2) the value of the property is $50.00 or more.   (b) If an apparent owner has consented to receive electronic-mail delivery from the holder, the holder shall send the notice described in subsection (a) of this section both by first-class U.S. mail to the apparent owner's last-known mailing address and by electronic mail, unless the holder believes that the apparent owner's electronic-mail address is invalid. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1502
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1502. Contents of notice by holder

§ 1502. Contents of notice by holder|(a) Notice under section 1501 of this title must contain a heading that reads substantially as follows: "Notice. The State of Vermont requires us to notify you that your property may be transferred to the custody of the State Treasurer if you do not contact us before (insert date that is 30 days after the date of this notice).".(b) The notice under section 1501 of this title must:  (1) identify the nature and, except for property that does not have a fixed value, the value of the property that is the subject of the notice; (2) state that the property will be turned over to the Administrator; (3) state that after the property is turned over to the Administrator an apparent owner that seeks return of the property must file a claim with the Administrator; (4) state that property that is not legal tender of the United States may be sold by the Administrator; and (5) provide instructions that the apparent owner must follow to prevent the holder from reporting and paying or delivering the property to the Administrator. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1503
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1503. Notice by Administrator

§ 1503. Notice by Administrator|(a) The Administrator shall give notice to an apparent owner that property presumed abandoned and appears to be owned by the apparent owner is held by the Administrator under this chapter.(b) In providing notice under subsection (a) of this section, the Administrator shall:  (1) except as otherwise provided in subdivision (2) of this subsection, send written notice by first-class U.S. mail to each apparent owner of property valued at $50.00 or more held by the Administrator, unless the Administrator determines that a mailing by first-class U.S. mail would not be received by the apparent owner, and, in the case of a security held in an account for which the apparent owner had consented to receiving electronic mail from the holder, send notice by electronic mail if the electronic-mail address of the apparent owner is known to the Administrator instead of by first-class U.S. mail; or (2) send the notice to the apparent owner's electronic-mail address if the Administrator does not have a valid U.S. mail address for an apparent owner, but has an electronic-mail address that the Administrator does not know to be invalid.   (c) In addition to the notice under subsection (b) of this section, the Administrator may use any of the following to provide additional notice to the apparent owners:  (1) publication in a newspaper of general circulation:  (A) in the area of the State in which the last known address of a person to be named in the notice is located; (B) in the area in which the holder has its principal place of business in the State; or (C) in the area the Administrator deems to provide the best opportunity to reach the apparent owner;  (2) individual contact by regular or electronic mail, or by telephone, if the treasurer has current contact information on file; (3) any other manner and method that the treasurer considers effective for providing notice and publication.   (d) In addition to the notice under subsection (b) of this section, the Administrator shall maintain a website or database accessible by the public and electronically searchable that contains the names reported to the Administrator of all apparent owners for whom property is being held by the Administrator. The website or database maintained under this subsection must include instructions for filing with the Administrator a claim to property and a printable claim form with instructions for its use.(e) In addition to giving notice under subsection (b) of this section, publishing the information under subdivision (c)(1) of this section and maintaining the website or database under subdivision (d)(2) of this section, the Administrator may use other printed publication, telecommunication, the Internet, or other media to inform the public of the existence of unclaimed property held by the Administrator. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1504
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1504. Cooperation among State officers and agencies to locate apparent owner

§ 1504. Cooperation among State officers and agencies to locate apparent owner|Unless prohibited by law of this State other than this chapter, on request of the Administrator, each officer, agency, board, commission, division, and department of this State, any body politic and corporate created by this State for a public purpose, and each political subdivision of this State shall make its books and records available to the Administrator and cooperate with the Administrator to determine the current address of an apparent owner of property held by the Administrator under this chapter. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1511
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1511. Definition of good faith

§ 1511. Definition of good faith|In this subchapter, payment or delivery of property is made in good faith if a holder:  (1) had a reasonable basis for believing, based on the facts then known, that the property was required or permitted to be paid or delivered to the Administrator under this chapter; or (2) made payment or delivery:  (A) in response to a demand by the Administrator or Administrator's agent; or (B) under a guidance or ruling issued by the Administrator that the holder reasonably believed required or permitted the property to be paid or delivered. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1512
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1512. Dormancy charge

§ 1512. Dormancy charge|(a) A holder may deduct a dormancy charge from property required to be paid or delivered to the Administrator if:  (1) a valid contract between the holder and the apparent owner authorizes imposition of the charge for the apparent owner's failure to claim the property within a specified time; and (2) the holder regularly imposes the charge and regularly does not reverse or otherwise cancel the charge.   (b) The amount of the deduction under subsection (a) is limited to an amount that is not unconscionable considering all relevant factors, including the marginal transactional costs incurred by the holder in maintaining the apparent owner's property and any services received by the apparent owner. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1513
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1513. Payment or delivery of property to Administrator

§ 1513. Payment or delivery of property to Administrator|(a) Except as otherwise provided in this section, on filing a report under section 1491 of this title, the holder shall pay or deliver to the Administrator the property described in the report.(b) If property in a report under section 1491 of this title is an automatically renewable deposit and a penalty or forfeiture in the payment of interest would result from paying the deposit to the Administrator at the time of the report, the date for payment of the property to the Administrator is extended until a penalty or forfeiture no longer would result from payment, if the holder informs the Administrator of the extended date.(c) Tangible property in a safe-deposit box may not be delivered to the Administrator until 120 days after filing the report under section 1491 of this title.(d) If property reported to the Administrator under section 1491 of this title is a security, the Administrator may:  (1) make an endorsement, instruction, or entitlement order on behalf of the apparent owner to invoke the duty of the issuer, its transfer agent, or the securities intermediary to transfer the security; or (2) dispose of the security under section 1532 of this title.   (e) If the holder of property reported to the Administrator under section 1491 of this title is the issuer of a certificated security, the Administrator may obtain a replacement certificate in physical or book-entry form under 9A V.S.A. § 8-405. An indemnity bond is not required.(f) The Administrator shall establish procedures for the registration, issuance, method of delivery, transfer, and maintenance of securities delivered to the Administrator by a holder.(g) An issuer, holder, and transfer agent or other person acting under this section under instructions of and on behalf of the issuer or holder is not liable to the apparent owner for, and must be indemnified by the State against, a claim arising with respect to property after the property has been delivered to the Administrator.(h) A holder is not required to deliver to the Administrator a security identified by the holder as a non-freely transferable security. If the Administrator or holder determines that a security is no longer a non-freely transferable security, the holder shall deliver the security on the next regular date prescribed for delivery of securities under this chapter. The holder shall make a determination annually whether a security identified in a report filed under section 1491 of this title as a non-freely transferable security is no longer a non-freely transferable security. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1514
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1514. Effect of payment or delivery of property to Administrator

§ 1514. Effect of payment or delivery of property to Administrator|On payment or delivery of property to the Administrator under this chapter, the Administrator as agent for the State assumes custody and responsibility for safekeeping the property. A holder that pays or delivers property to the Administrator in good faith and substantially complies with sections 1501 and 1502 of this title is relieved of liability arising thereafter with respect to payment or delivery of the property to the Administrator. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1516
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1516. Property removed from safe-deposit box

§ 1516. Property removed from safe-deposit box|Property removed from a safe-deposit box and delivered under this chapter to the Administrator under this chapter is subject to the holder's right to reimbursement for the cost of opening the box and a lien or contract providing reimbursement to the holder for unpaid rent charges for the box. The Administrator shall reimburse the holder from the proceeds remaining after deducting the expense incurred by the Administrator in selling the property. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1517
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1517. Crediting income or gain to owner's account

§ 1517. Crediting income or gain to owner's account|If property other than money is delivered to the Administrator, the owner is entitled to receive from the Administrator income or gain realized or accrued on the property before the property is sold. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1518
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1518. Administrator's options as to custody

§ 1518. Administrator's options as to custody|(a) The Administrator may decline to take custody of property reported under section 1491 of this title if the Administrator determines that:  (1) the property has a value less than the estimated expenses of notice and sale of the property; or (2) taking custody of the property would be unlawful.   (b) A holder may pay or deliver property to the Administrator before the property is presumed abandoned under this chapter if the holder:  (1) sends the apparent owner of the property notice required by section 1501 of this title and provides the Administrator evidence that the holder sent such notice; (2) includes with the payment or delivery a report regarding the property conforming to section 1492 of this title; and (3) first obtains the Administrator's consent in a record to accept payment or delivery.   (c) A holder's request for the Administrator's consent under subdivision (b)(3) of this section must be in a record. If the Administrator fails to respond to the request not later than 30 days after receipt of the request, the Administrator is deemed to consent to the payment or delivery of the property and the payment or delivery is considered to have been made in good faith.(d) On payment or delivery of property under subsection (b), the property is presumed abandoned. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1519
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1519. Disposition of property having no substantial value; immunity from liability

§ 1519. Disposition of property having no substantial value; immunity from liability|(a) If the Administrator takes custody of property delivered under this chapter and later determines that the property has no substantial commercial value or that the cost of disposing of the property will exceed the value of the property, the Administrator may return the property to the holder or destroy or otherwise dispose of the property.(b) An action or proceeding may not be commenced against the State, an agency of the State, the Administrator, another officer, employee, or agent of the State, or a holder for or because of an act of the Administrator under this section, except for intentional misconduct or malfeasance. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1520
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1520. Periods of limitation and repose

§ 1520. Periods of limitation and repose|(a) Expiration, before, on, or after the effective date of this chapter, of a period of limitation on an owner's right to receive or recover property, whether specified by contract, statute, or court order, does not prevent the property from being presumed abandoned or affect the duty of a holder under this chapter to file a report or pay or deliver property to the Administrator.(b) The Administrator may not commence an action or proceeding to enforce this chapter with respect to the reporting, payment, or delivery of property more than five years after the holder filed a non-fraudulent report under section 1491 of this title with the Administrator. The parties may agree in a record to extend the limitation in this subsection.(c) The Administrator may not commence an action, proceeding, or examination with respect to a duty of a holder under this chapter more than 10 years after the duty arose. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1531
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1531. Public sale of property

§ 1531. Public sale of property|(a) Subject to section 1532 of this title, not earlier than three years after receipt of property presumed abandoned, the Administrator may sell the property.(b) Before selling property under subsection (a), the Administrator shall give notice to the public of:  (1) the date of the sale; and (2) a reasonable description of the property.   (c) A sale under subsection (a) of this section must be to the highest bidder:  (1) at public sale at a location in this State that the Administrator determines to be the most favorable market for the property; (2) on the Internet; or (3) on another forum the Administrator determines is likely to yield the highest net proceeds of sale.   (d) The Administrator may decline the highest bid at a sale under this section and reoffer the property for sale if the Administrator determines the highest bid is insufficient.(e) If a sale held under this section is to be conducted other than on the Internet, the Administrator must publish at least one notice of the sale, at least three weeks but not more than five weeks before the sale, in a newspaper of general circulation in the county in which the property is sold. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1532
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1532. Disposal of securities

§ 1532. Disposal of securities|(a) The Administrator may not sell or otherwise liquidate a security until three years after the Administrator receives the security and gives the apparent owner notice under section 1503 of this title that the Administrator holds the security.(b) The Administrator may not sell a security listed on an established stock exchange for less than the price prevailing on the exchange at the time of sale. The Administrator may sell a security not listed on an established exchange by any commercially reasonable method. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1533
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1533. Recovery of securities or value by owner

§ 1533. Recovery of securities or value by owner|(a) If the Administrator sells a security before the expiration of six years after delivery of the security to the Administrator, an apparent owner that files a valid claim under this chapter of ownership of the security before the six-year period expires is entitled, at the option of the Administrator, to receive:  (1) replacement of the security; or (2) the market value of the security at the time the claim is filed, plus dividends, interest, and other increments on the security up to the time the claim is paid.   (b) Replacement of the security or calculation of market value under subsection (a) must take into account a stock split, reverse stock split, stock dividend, or similar corporate action.(c) A person that makes a valid claim under this chapter of ownership of a security after expiration of six years after delivery of the security to the Administrator is entitled to receive:  (1) the security the holder delivered to the Administrator, if it is in the custody of the Administrator, plus dividends, interest, and other increments on the security up to the time the Administrator delivers the security to the person; or (2) the net proceeds of the sale of the security, plus dividends, interest, and other increments on the security up to the time the security was sold. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1534
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1534. Purchaser owns property after sale

§ 1534. Purchaser owns property after sale|A purchaser of property at a sale conducted by the Administrator under this chapter takes the property free of all claims of the owner, a previous holder, or a person claiming through the owner or holder. The Administrator shall execute documents necessary to complete the transfer of ownership to the purchaser. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1535
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1535. Military medal or decoration

§ 1535. Military medal or decoration|(a) The Administrator may not sell a medal or decoration awarded for military service in the U.S. Armed Forces.(b) The Administrator, with the consent of the respective organization under subdivision (1) of this subsection, agency under subdivision (2) of this subsection, or entity under subdivision (3) of this subsection, may deliver a medal or decoration described in subsection (a) to be held in custody for the owner to:  (1) a military veterans organization qualified under the Internal Revenue Code, as may be amended, 26 U.S.C. § 501(c)(19); (2) the agency that awarded the medal or decoration; or (3) a governmental entity.   (c) On delivery under subsection (b) of this section, the Administrator is not responsible for safekeeping the medal or decoration. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1541
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1541. Deposit of funds by Administrator

§ 1541. Deposit of funds by Administrator|(a) All funds received under this chapter, including the proceeds from the sale of unclaimed property under subchapter 7 of this chapter, shall forthwith be received by the Administrator, except that the Administrator shall retain in a separate fund an amount not exceeding $100,000.00 or 55 percent of the funds received during the previous year, whichever is greater, from which he or she shall make prompt payment of claims duly allowed by him or her as provided in this section.(b) The Administrator shall maintain an account with an amount of funds the Administrator reasonably estimates is sufficient to pay claims allowed under this chapter. If the aggregate amount of claims by owners allowed at any time exceeds the amount held in the account, an excess claim must be paid by the Administrator. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
27 V.S.A. § 1542
2021 Vermont Statutes|Title 27 - Property|Chapter 18 - Unclaimed Property|§ 1542. Administrator to retain records of property

§ 1542. Administrator to retain records of property|The Administrator shall:  (1) record and retain the name and last-known address of each person shown on a report filed under section 1491 of this title to be the apparent owner of property delivered to the Administrator; (2) record and retain the name and last-known address of each insured or annuitant and beneficiary shown on the report; (3) for each policy of insurance or annuity contract listed in the report of an insurance company, record and retain the policy or account number, the name of the company, and the amount due or paid; and (4) for each apparent owner listed in the report, record and retain the name of the holder that filed the report and the amount due or paid. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)