Vermont § 14207 - Provisions when title to deposit is litigated

§ 14207. Provisions when title to deposit is litigated

• (a) Multiple claims. In actions against a financial institution by one spouse to recover for monies deposited
  by the other spouse in the latter’s own name, the depositing spouse may be a witness.
  In actions against such financial institution to recover for money on deposit, if
  there is a person, whether married or not, claiming the same fund, who is not a party
  to the action, the court, on the petition of such financial institution and on such
  notice as it considers proper to the plaintiff and such claimant, may order the proceedings
  to be amended by making such claimant a party defendant. The court shall thereupon
  hear and determine the rights and interests of the parties to such action in and to
  such fund. (b) Litigated deposits; payment into court; costs. The deposits that are the subject of such action may remain with such financial institution
  upon the same interest as other deposits of like amount, until final judgment in the
  action, and the same shall be paid by such financial institution in accordance with
  the order of the court, or the deposits may be paid into court to await the final
  determination of the action. When so paid into court, the financial institution shall
  no longer be a party to such action, and its liability for such deposit shall cease.
  The costs in such action shall be in the discretion of the court and may be charged
  upon the fund affected by the action. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2021, No. 105 (Adj. Sess.), § 295, eff. July 1, 2022.)