Vermont Statutes Title 20 Sec. 542
Terms Used In Vermont Statutes Title 20 Sec. 542
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Personal property: All property that is not real property.
- real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 542. Acquisition, maintenance, and disposal of property for National Guard use
In the name of the State, the Board shall be responsible for the real estate and personal property of the National Guard. The Board may acquire or purchase, maintain, and dispose of by sale or otherwise real estate and personal property. Upon determination by the Board that real estate is to be disposed of, the disposal shall be at fair market value, and the proceeds shall be allocated to future capital construction acts. (Amended 1969, No. 261 (Adj. Sess.), § 5, eff. April 7, 1970; 1973, No. 223 (Adj. Sess.), § 6, eff. April 4, 1974; 2007, No. 200 (Adj. Sess.), § 51, eff. June 9, 2008; 2013, No. 51, § 44, eff. May 29, 2013; 2021, No. 10, § 22.)