§ 1491.
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/vt/title-27/chapter-18/1491A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 1491. Report required by holder
(a)A holder of property presumed abandoned and subject to the custody of the Administrator shall report in a record to the Administrator concerning the property. The Administrator may not require a holder to file a paper report.
(b)A holder may contract with a third party to make the report required under subsection
(a)of this section.
(c)Whether or not a holder contracts with a third party under subsection
(b)of this section, the holder is responsible:
(1)to the Administrator for the complete, accurate, and timely reporting of property presumed abandoned; and
(2)for paying or delivering to the Administrator property described in the report. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)