Vermont § 104 - High rate loans
Full text of Vermont Vermont Statutes Online § 104 — High rate loans, with citation guidance and answers to common questions.
§ 104. High rate loans
- (a) The Commissioner may adopt disclosure rules for loans secured by a first lien on residential
real estate in which the borrower is expected to be charged in excess of four points
or interest in excess of three percent over the rate established pursuant to 32 V.S.A. § 3108, or both, on the loan. The rules may provide for restrictions on representations
by the lender regarding the disclosures required by the rules. (b) The Commissioner shall notify all mortgage lenders of the interest rate determined
under 32 V.S.A. § 3108 annually. (c) The Commissioner may impose an administrative penalty of not more than $5,000.00 on
any person that fails to comply with the provisions of this section. The Commissioner
may order a lender to refund any discount points or other charges paid by a borrower
who has not received disclosures required by the rule. (Added 1997, No. 98 (Adj. Sess.), § 7, eff. April 16, 1998; amended 2015, No. 23, § 89.)
Frequently Asked Questions About Vermont § 104
What does Vermont Statutes Online § 104 cover?
Section 104 ("High rate loans") 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 § 104?
A common citation format is "Vermont Statutes Online § 104" (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 § 104 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.