Vermont § 503 - § 3—503.

§ 503. § 3—503.

• Notice of dishonor (a) The obligation of an indorser stated in section 3—415(a) of this title and the obligation of a drawer stated in section 3—414(d) of this title may not be enforced unless (i) the indorser or drawer is given notice of dishonor
  of the instrument complying with this section or (ii) notice of dishonor is excused
  under section 3—504(b) of this title. (b) Notice of dishonor may be given by any person; may be given by any commercially reasonable
  means, including an oral, written, or electronic communication; and is sufficient
  if it reasonably identifies the instrument and indicates that the instrument has been
  dishonored or has not been paid or accepted. Return of an instrument given to a bank
  for collection is sufficient notice of dishonor. (c) Subject to section 3—504(c) of this title, with respect to an instrument taken for collection by a collecting bank, notice
  of dishonor must be given (i) by the bank before midnight of the next banking day
  following the banking day on which the bank receives notice of dishonor of the instrument,
  or (ii) by any other person within 30 days following the day on which the person receives
  notice of dishonor. With respect to any other instrument, notice of dishonor must
  be given within 30 days following the day on which dishonor occurs. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)