Vermont § 1496 - Electric utility cooperatives
Full text of Vermont Vermont Statutes Online § 1496 — Electric utility cooperatives, with citation guidance and answers to common questions.
§ 1496. Electric utility cooperatives
- (a) Electric utility cooperatives organized under or otherwise subject to 30 V.S.A. chapter 81 shall report capital credits that have been retired and declared payable by the cooperative’s
board of directors, but that have not been claimed by the owner in accordance with
the provisions of this chapter. Electric utility cooperatives shall not pay or deliver
the unclaimed capital credits to the Administrator. As used in this section, “capital
credits” means those credits to a capital account of a member of an electric utility
cooperative that the cooperative is obliged to pay after operating costs and expenses
have been paid. (b) The Administrator shall provide notice of unclaimed capital credit properties reported
by electric utilities in accordance with the provisions of section 1503 of this title. In the event of a claim for a capital credit property, the Administrator shall refer
the claimant to the appropriate electric utility cooperative who shall evaluate the
claim and upon provision of satisfactory proof of ownership shall pay the claimant. (c) The electric utility cooperative shall notify the Administrator of the resolution
of all claims for unclaimed property. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
Frequently Asked Questions About Vermont § 1496
What does Vermont Statutes Online § 1496 cover?
Section 1496 ("Electric utility cooperatives") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 1496?
A common citation format is "Vermont Statutes Online § 1496" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 1496 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.