Vermont § 1512 - Dormancy charge

Full text of Vermont Vermont Statutes Online § 1512 — Dormancy charge, with citation guidance and answers to common questions.

§ 1512. Dormancy charge

  • (a) A holder may deduct a dormancy charge from property required to be paid or delivered
    to the Administrator if: (1) a valid contract between the holder and the apparent owner authorizes imposition of
    the charge for the apparent owner’s failure to claim the property within a specified
    time; and (2) the holder regularly imposes the charge and regularly does not reverse or otherwise
    cancel the charge. (b) The amount of the deduction under subsection (a) is limited to an amount that is not
    unconscionable considering all relevant factors, including the marginal transactional
    costs incurred by the holder in maintaining the apparent owner’s property and any
    services received by the apparent owner. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)

Related Vermont Legal Topics

Frequently Asked Questions About Vermont § 1512

What does Vermont Statutes Online § 1512 cover?

Section 1512 ("Dormancy charge") 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 § 1512?

A common citation format is "Vermont Statutes Online § 1512" (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 § 1512 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.