2019 Vermont Statutes
Title 11B - Nonprofit Corporations
Chapter 14 - Dissolution
§ 14.40 Deposit with State Treasurer
§ 14.40. Deposit with State Treasurer
Assets of a dissolved corporation that should be transferred to a creditor, claimant, or member of the corporation who cannot be found or who is not competent to receive them shall be reduced to cash subject to known trust restrictions and deposited with the State Treasurer for safekeeping; provided, however, that in the State Treasurer's discretion property may be received and held in kind. When the creditor, claimant, or member furnishes satisfactory proof of entitlement to the amount deposited or property held in kind, the State Treasurer shall deliver to the creditor, member, or other person or his or her representative that amount or property. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)
