Vermont § 513 - § 9—513.

§ 513. § 9—513.

• Termination statement (a) A secured party shall cause the secured party of record for a financing statement
  to file a termination statement for the financing statement if the financing statement
  covers consumer goods and: (1) there is no obligation secured by the collateral covered by the financing statement
  and no commitment to make an advance, incur an obligation, or otherwise give value;
  or (2) the debtor did not authorize the filing of the initial financing statement. (b) To comply with subsection (a) of this section, a secured party shall cause the secured
  party of record to file the termination statement: (1) within one month after there is no obligation secured by the collateral covered by
  the financing statement and no commitment to make an advance, incur an obligation,
  or otherwise give value; or (2) if earlier, within 20 days after the secured party receives a signed demand from a
  debtor. (c) In cases not governed by subsection (a) of this section, within 20 days after a secured
  party receives a signed demand from a debtor, the secured party shall cause the secured
  party of record for a financing statement to send to the debtor a termination statement
  for the financing statement or file the termination statement in the filing office
  if: (1) except in the case of a financing statement covering accounts or chattel paper that
  has been sold or goods that are the subject of a consignment, there is no obligation
  secured by the collateral covered by the financing statement and no commitment to
  make an advance, incur an obligation, or otherwise give value; (2) the financing statement covers accounts or chattel paper that has been sold but as
  to which the account debtor or other person obligated has discharged its obligation; (3) the financing statement covers goods that were the subject of a consignment to the
  debtor but are not in the debtor’s possession; or (4) the debtor did not authorize the filing of the initial financing statement. (d) Except as otherwise provided in section 9—510 of this title, upon the filing of a termination statement with the filing office, the financing
  statement to which the termination statement relates ceases to be effective. Except
  as otherwise provided in section 9—510 of this title, for purposes of subsections 9—519(g), 9—522(a), and 9—523(c) of this title, the filing with the filing office of a termination statement, relating to a financing
  statement that indicates that the debtor is a transmitting utility, also causes the
  effectiveness of the financing statement to lapse. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001; amended 2001, No. 46, § 6; 2025, No. 17, § 9, eff. July 1, 2025.)