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2018 Vermont Statutes
Title 9 - Commerce and Trade
Chapter 60 - Agricultural Finance Leases
§ 2386 Option to accelerate at will
Universal Citation: 9 V.S.A. § 2386
§ 2386. Option to accelerate at will
Any term of an agricultural finance lease providing that a party or a successor in interest may accelerate payment or performance, or require collateral or additional collateral "at will" or "when he or she deems himself or herself insecure," or in words of similar import, shall be construed to mean that the party may do so only if he or she in good faith believes that the prospect of payment or performance is impaired. The burden of establishing good faith shall be on the party who exercised the power. (Added 1989, No. 284 (Adj. Sess.), § 1; amended 2011, No. 136 (Adj. Sess.), § 1, eff. May 18, 2012.)
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