Vermont § 312 - § 3—312.

§ 312. § 3—312.

• Lost, destroyed, or stolen cashier’s check, teller’s check, or certified check (a) In this section: (1) “Check” means a cashier’s check, teller’s check, or certified check. (2) “Claimant” means a person who claims the right to receive the amount of a cashier’s
  check, teller’s check, or certified check that was lost, destroyed, or stolen. (3) “Declaration of loss” means a written statement, made under penalty of perjury, to
  the effect that (i) the declarer lost possession of a check, (ii) the declarer is
  the drawer or payee of the check, in the case of a certified check, or the remitter
  or payee of the check, in the case of a cashier’s check or teller’s check, (iii) the
  loss of possession was not the result of a transfer by the declarer or a lawful seizure,
  and (iv) the declarer cannot reasonably obtain possession of the check because the
  check was destroyed, its whereabouts cannot be determined, or it is in the wrongful
  possession of an unknown person or a person that cannot be found or is not amenable
  to service of process. (4) “Obligated bank” means the issuer of a cashier’s check or teller’s check or the acceptor
  of a certified check. (b) A claimant may assert a claim to the amount of a check by a communication to the obligated
  bank describing the check with reasonable certainty and requesting payment of the
  amount of the check, if (i) the claimant is the drawer or payee of a certified check
  or the remitter or payee of a cashier’s check or teller’s check, (ii) the communication
  contains or is accompanied by a declaration of loss of the claimant with respect to
  the check, (iii) the communication is received at a time and in a manner affording
  the bank a reasonable time to act on it before the check is paid, and (iv) the claimant
  provides reasonable identification if requested by the obligated bank. Delivery of
  a declaration of loss is a warranty of the truth of the statements made in the declaration.
  If a claim is asserted in compliance with this subsection, the following rules apply: (1) The claim becomes enforceable at the later of (i) the time the claim is asserted,
  or (ii) the 90th day following the date of the check, in the case of a cashier’s check
  or teller’s check, or the 90th day following the date of the acceptance, in the case
  of a certified check. (2) Until the claim becomes enforceable, it has no legal effect and the obligated bank
  may pay the check or, in the case of a teller’s check, may permit the drawee to pay
  the check. Payment to a person entitled to enforce the check discharges all liability
  of the obligated bank with respect to the check. (3) If the claim becomes enforceable before the check is presented for payment, the obligated
  bank is not obliged to pay the check. (4) When the claim becomes enforceable, the obligated bank becomes obliged to pay the
  amount of the check to the claimant if payment of the check has not been made to a
  person entitled to enforce the check. Subject to section 4—302(a)(1) of this title, payment to the claimant discharges all liability of the obligated bank with respect
  to the check. (c) If the obligated bank pays the amount of a check to a claimant under subdivision (b)(4)
  of this section and the check is presented for payment by a person having rights of
  a holder in due course, the claimant is obliged to (i) refund the payment to the obligated
  bank if the check is paid, or (ii) pay the amount of the check to the person having
  rights of a holder in due course if the check is dishonored. (d) If a claimant has the right to assert a claim under subsection (b) of this section
  and is also a person entitled to enforce a cashier’s check, teller’s check, or certified
  check which is lost, destroyed, or stolen, the claimant may assert rights with respect
  to the check either under this section or section 3—309 of this title. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)