Vermont § 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.)