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2020 Vermont Statutes
Title 27 - Property
Chapter 18 - Unclaimed Property
§ 1511. Definition of good faith
Universal Citation: 27 V.S.A. § 1511.
§ 1511. Definition of good faith
In this subchapter, payment or delivery of property is made in good faith if a holder:
(1) had a reasonable basis for believing, based on the facts then known, that the property was required or permitted to be paid or delivered to the Administrator under this chapter; or
(2) made payment or delivery:
(A) in response to a demand by the Administrator or Administrator's agent; or
(B) under a guidance or ruling issued by the Administrator that the holder reasonably believed required or permitted the property to be paid or delivered. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)
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